Exxonmobil News

18 Mar 2020

Lankhorst Deepwater Mooring Lines for Liza Unity FPSO

SBM Offshore Liza Unity FPSO. Photo credit: SBM Offshore.

Lankhorst Offshore reports it has been awarded a contract by SBM Offshore to supply the deepwater mooring lines for the Liza Unity Floating Production Storage and Offloading (FPSO) for ExxonMobil’s Liza oil field offshore Guyana, South America. This follows the deployment of Lankhorst mooring lines for the Liza Destiny FPSO mooring system also in the Liza field.The Liza Unity FPSO, based on SBM Offshore’s Fast4Ward FPSO design, will be spread moored at a water depth of 1,600m with 20 Cabral 512 deepwater mooring lines with a minimum breaking strength of 12,300 kN.

16 Feb 2020

Oil Firms to Spend $53Bn at Stabroek Block

Image: Rystad Energy

Global oil firms are preparing to spend more than $53 billion in Guyana’s coveted Stabroek Block during the coming decade.According to Rystad Energy research, recent discoveries in the Guyana-Suriname basin have proven a wider petroleum system and may cause an upgrade in resource estimates, drawing extra attention to upcoming wells.It said that with more than 8 billion barrels of recoverable oil discovered in Stabroek thus far, companies are set to boost their capital expenditure for the area…

11 Feb 2020

Upstream Sector Leads O&A M&A in 2019

Graph: GlobalData

A latest research revealed that the upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating some high-value transactions during the process.According to GlobalData's theme report, ‘M&A in Oil and Gas – 2020’, the acquisition of Anadarko Petroleum by Occidental Petroleum in April 2019 for a purchase consideration of US$57bn was the highlight of oil and gas M&A activity last year, says GlobalData, a leading data and analytics company.Ravindra Puranik…

23 Dec 2019

Antwerp Port Achieves Record for 7th Year

Image: Port of Antwerp

The Port of Antwerp has seen significant growth for the seventh year in a row, with freight volume up 1.3% to 238 million tonnes. Although some segments are under pressure, the port says it is making progress both economically and in sustainability and mobility.Container freight, in particular, gained market share (up from 27.5% to 28.2%), while the dry bulk segment for its part saw its total volume expand by 3.4%.In breakbulk on the other hand, with steel as the main product…

29 Nov 2019

Qatar Eyes LNG Top Spot

Pic: Qatar Petroleum

Qatar is eyeing liquefied natural gas (LNG) top spot as it primes 64% output boost, said Wood Mackenzie.Qatar Petroleum (QP) announced that it will boost output from Qatar LNG by 64% - from 77 million tonnes per annum (tpa) at present to 126 million tpa by 2027 – following a successful appraisal of the North Field’s onshore extension, near Ras Laffan Industrial City.Liam Kelleher, from  Wood Mackenzie’s gas and LNG team said: “QP had already been targeting an increase to 110 million tpa…

18 Nov 2019

Oil Majors to Raise $27Bln in Selling Spree

Pic: Rystad Energy

Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total of $27.5 billion, according to Rystad Energy’s latest assessment.These companies are actively shedding mature assets on a massive scale in a bid to finance higher-yielding investments elsewhere, with the added benefit of pleasing shareholders who are calling for stricter capital discipline.“The expected transactions mean some of the majors are poised to exit certain regions…

06 Nov 2019

GasLog Sees Tighter LNG Shipping Market

Pic: GasLog

GasLog, an international owner, operator and manager of liquefied natural gas (LNG) carriers, is predicting a tighter LNG shipping market, as increasing United States LNG output combines with a seasonal uptick in demand for gas, resulting in rising demand for shipping and higher utilization of the global fleet.These underlying trends in the LNG commodity and shipping markets point towards a structurally tighter market through 2020 and into 2021.As of October 28, 2019, the LNG fleet and orderbook (excluding floating storage and regasification units (FSRUs) and vessels with capacity below 100…

31 Oct 2019

Oil and Gas Industry Adopts VR

Pic: GlobalData

The oil and gas industry is witnessing wide-scale deployment of virtual reality (VR) technology across its value chain, according to GlobalData.According to the report, ‘Virtual Reality in Oil & Gas’, VR is finding its way into upstream, midstream and downstream sectors with applications in the simulation of new processes, analysis of project designs, reviewing of maintenance requirements and planning disaster responses.Ravindra Puranik, Oil and Gas Analyst at GlobalData, said: “Over time…

30 Oct 2019

Mobilgard for Plug-In Hybrid Vessel

Photo: ExxonMobil

ExxonMobil is supplying Mobilgard ADL 40 engine oil for Color Hybrid, Color Line’s latest addition to its fleet of ferries. The vessel is the world’s largest plug-in battery hybrid ship and was recently named ‘ship of the year 2019’ by Nor-Shipping.The vessel, which is already in service between Sandefjord, Norway, and Strömstad, Sweden, is capable of carrying 2,000 passengers and 500 cars. It combines four conventional Rolls-Royce Bergen B33:45L in-line diesel engines with electric…

29 Oct 2019

ExxonMobil Talks With Teekay Ahead of IMO 2020

The International Maritime Organization (IMO) has mandated a global 0.50% cap on the maximum level of sulphur in marine fuel. This new cap represents a significant reduction – down from the current 3.50% limit – and presents the marine industry with compliance challenges.Starting from January 1, 2020, vessel operators will need to use a compliant fuel, or have a scrubber fitted if they wish to continue burning high-sulphur fuel oil. This ruling does not affect Emission Control Areas (ECAs), where a 0.10% sulphur fuel is still required.ExxonMobil anticipates that the vast majority of the industry will choose a low-sulphur fuel to meet the new IMO 2020 cap. However, there is no single route to compliance.

25 Oct 2019

Qilak LNG, ExxonMobil Pact on Gas Supply

Image courtesy: Qilak LNG

Alaska-based Qilak LNG announced that a Heads of Agreement (HOA) has been entered into with ExxonMobil Alaska Production regarding the potential supply of natural gas from the Point Thomson field to Qilak LNG's proposed Alaska North Slope liquefied natural gas (LNG) export project (Qilak LNG 1 Project).According to the Lloyds Energy company, which was formed to identify and develop Arctic LNG projects in North America,  the he HOA foresees ExxonMobil providing at least 560 million standard cubic feet per day (mmscfd) of natural gas to Phase 1 of the Qilak LNG 1 Project…

15 Oct 2019

Mozambique LNG Project Moves Ahead

Image: Mozambique LNG project

With a second Final Investment Decision (FID) in just 2 years, Mozambique has officially positioned itself as a key player in the global gas and LNG market for years to come.The latest FID on the US$20 billion Mozambique LNG project, makes it the largest sanction ever in sub-Saharan Africa oil and gas.Described by His Excellency President Nyusi as “one of the most important and transformational projects in the country’s history”, Mozambique LNG is set to be a game-changer for this East African nation of 31 million people.According to Wood Mac…

13 Oct 2019

SHI Wins Two LNGCs Orders from MISC

Pic: Samsung Heavy Industries(SHI)

South Korean shipbuilder Samsung Heavy Industries (SHI) announced that it had secured orders for two 174,000-cbm LNG carriers from MISC Berhad (MISC), a global provider of energy related maritime solutions and services.The 174,000 cbm LNG carriers were ordered under a KRW 485.3 billion (USD 406.2 million) deal, according to an SHI stock exchange announcement. The units are scheduled for delivery by the end of the first quarter of 2023.The LNG carriers will be used by ExxonMobil to transport its global LNG production…

10 Oct 2019

MISC Secures ExxonMobil LNG Tanker Contract

Photo: MISC

MISC Berhad (MISC) through its wholly-owned subsidiaries have secured agreements with Exxon Mobil Corporation’s wholly-owned subsidiary, SeaRiver Maritime LLC (SeaRiver) for the time charter contracts of two Liquefied Natural Gas (LNG) carriers.Each of the LNG carriers will respectively serve the transportation needs of ExxonMobil’s worldwide LNG portfolio on a 15-year charter contract.Prior to this, MISC, through the same subsidiaries have also signed an agreement with Samsung Heavy Industries Co., Ltd. (SHI) for the construction of the LNG carriers in Korea.

09 Oct 2019

Mozambique Awards Rovuma LNG Project Gig

Pierre Bechelany (center), Fluor's president of Pipelines & LNG, signs contract. (Photo: Business Wire)

Mozambique Rovuma Venture (MRV) has awarded an engineering, procurement, and construction contract to a consortium of Fluor, JGC, and TechnipFMC for its Mozambique Rovuma LNG Phase 1 project in Cabo Delgado, Mozambique.MRV, a joint-venture composed of Eni, ExxonMobil and CNPC, holds a 70% interest in the exploration and production concession of Area 4, with Galp, Kogas and Empresa Nacional de Hidrocarbonetos (ENH) each holding a 10% interest.The Rovuma LNG Project will produce…

02 Oct 2019

Cepsa, Exxonmobil Renew Marine Lubricant Pact

Pamela Skaufel, of Exxon Mobil, and Niurka Sancho, of Cepsa, during the signing of the agreement renewal. Photo: Cepsa

Spanish multinational oil and gas company Compañía Española de Petróleos (Cepsa) has renewed its agreement with ExxonMobil for the manufacture, distribution and supply of Mobil-brand marine lubricants in more than 130 ports in Spain, Portugal and Gibraltar.Cepsa produces MobilGard lubricants at its plant in San Roque (Cadiz). The company serves as an official distributor in the Iberian market for a variety of marine vessels, including ocean-going vessels, coastal navigation vessels…

18 Sep 2019

Boskalis Unit Scores Mozambique FLNG Gig

Pic: ENI

Dutch dredging company Royal Boskalis Westminster announced that its 50%-owned associate company Smit Lamnalco is contracted by Coral FLNG to provide marine services to the first Mozambique floating liquefied natural gas (FLNG) terminal.The 10-year contract with additional extension options marks the first terminal services contract award for the Mozambique offshore LNG developments.The contract value for Smit Lamnalco amounts to approximately USD 200 million and services will…

03 Sep 2019

Singapore’s first LNG-Powered Bunker Tanker Christened

The Marine Vicky (CREDIT: Sinanju Tankers Holdings Pte Ltd)

The Vessel is on track to commence deliveries of compliant marine fuels from Q1 2020.Singapore-based bunker tanker owner and operator Sinanju Tankers Holdings (“Sinanju”) achieved a new milestone today with the launch of the republic’s inaugural LNG-powered conventional bunker tanker.The 7,990 dwt vessel was christened “Marine Vicky” by her Lady Sponsor, Ms. Quah Ley Hoon, Chief Executive of the Maritime and Port Authority of Singapore (MPA) at a launch ceremony held in Nantong, China at Keppel Nantong Shipyard, a wholly-owned subsidiary of Keppel Offshore & Marine (“Keppel O&M”).Ms.

20 Aug 2019

Marine Lubricants Market to Reach $7.15Bln by 2026

Pic: ExxonMobil

The Marine Lubricants Market, which was USD 6.14 Billion in 2018, is expected to grow CAGR of 1.9% to reach USD 7.15 Billion by 2026.According to a new report by Reports and Data the key factors driving the market are the increase in world trade, new shipbuilding abilities and dry-docking activities which tend to stimulate the market globally.The predominance of yacht and cruise ships for leisure time is also adding to the growth of the market, it said.The improvement in the shipping industries is growing very swiftly across the world that propels the growth of the marine lubricants market.

20 Aug 2019

ExxonMobil's Mobilgard 540 Cylinder Oil Available

Photo: ExxonMobil

ExxonMobil has announced its new 40BN cylinder oil, Mobilgard 540, will be available from September 2, 2019. The lubricant has been specifically formulated for use with 0.50% sulphur fuels that comply with the International Maritime Organization’s (IMO) 2020 emission regulations and meets the requirements of OEMs, MAN ES and WinGD.Mobilgard 540 will be available from launch in major ports around the world including Hong Kong, Singapore, Antwerp, Rotterdam and Amsterdam. It will also be offered at additional locations through ExxonMobil’s delivery network, in bulk and in packs.

16 Aug 2019

Gazprom Lead Oil and Gas Growth Worldwide

Graph: Rystad Energy

Russian giant Gazprom saw the most production growth among world’s exploration and production (E&P) companies during the five-year span from 2014 through 2018.It’s followed by Chinese player PetroChina Company Limited and U.S. shale company EQT Corporation ranking second and third, respectively, said energy research firm Rystad Energy.Onshore resources – whether conventional or unconventional – are a major driver of growth, it said.“Gazprom, the clear leader in production growth…

16 Aug 2019

ExxonMobil Charters Singapore's First LNG-fueled Bunker Barge

The 7,990 dwt newbuilding, soon to be christened Marine Vicky, will be the first bunker tanker for Singapore and Sinanju, to be powered mainly by LNG. (Image: Sinanju Tankers Holdings)

ExxonMobil Asia Pacific has signed a two-year time charter agreement with Singapore-based Sinanju Tankers Holdings Pte Ltd to lease Singapore's first liquefied natural gas (LNG) powered bunker tanker, Sinanju said in an statement on Friday.The 7,990 deadweight tonnage (dwt) newbuild will be the first LNG bunker tanker for Singapore and Sinanju and will deliver ExxonMobil's new Engineered Marine Fuels (EMF.5) to ocean-going vessels within Singapore port limits from the first quarter of next year.EMF.5 marine fuels are designed to comply with the International Maritime Organization's (IMO) globa

07 Aug 2019

MOL, COSCO Pact on LNG, Ethane Projects

Photo: Mitsui O.S.K. Lines

Japanese shipping company Mitsui O.S.K. Lines (MOL) and China’s Cosco Shipping Energy Transportation (CSET) have signed a memorandum of understanding to further cooperate in LNG carrier and ethane carrier projects."The MOU recognizes and further develops the joint cooperation between the two organizations, for future LNG carrier projects and Ethane carrier projects," said a press release.Over more than 10 years, MOL and CSET have established a strong and extensive partnership…

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