Exxonmobil News

07 Jan 2019

PGS Updates on Seismic Acquisition Contract in South America

Ramform Atlas. Image: PGS

Norwegian seismic player Petroleum Geo-Services ASA (PGS) updated on changes of the contract for the 3D survey in South America announced November 14, 2018.The vessels Ramform Atlas and Ramform Tethys mobilized early December 2018 for this survey. The contract had an estimated total duration of approximately 13 vessel months and an estimated value in excess of $75 million, the marine geophysical company said.Due to unresolved issues affecting the survey, both vessels have been on paid standby from December 23…

02 Jan 2019

Consortium Bags Commitments for Rovuma LNG Project

LNG ship. Image: ExxonMobil

Area 4 co-venture participants -ExxonMobil, Eni, China National Petroleum Corporation (CNPC), Empresa Nacional de Hidrocarbonetos, Kogas and Galp - have secured liquefied natural gas (LNG) offtake commitments from affiliated buyer entities of the partnersA press release from ExxonMobil hailed this as a key milestone enabling the participants to rapidly move toward a final investment decision in 2019 on the first phase of the Rovuma LNG projectThose commitments are subject to the conclusion of fully-termed agreements…

24 Dec 2018

Venezuela Navy intercepts ExxonMobil Oil Explore Ship

The Venezuela's navy on Saturday "intercepted" a ship exploring for oil on behalf of Exxon Mobil Corp. in Guyanese waters, neighboring Guyana's foreign ministry said in a statement, in the latest incident in a century-old border dispute.A series of offshore oil discoveries in recent years have given Guyana the potential to become one of Latin America's largest producers. In OPEC member Venezuela, by contrast, crude output has tumbled to its lowest levels in nearly 70 years amid an economic crisis.The Ramform Tethys vessel, which belongs to Norwegian company Petroleum Geo-Services (PGS) and was conducting seismic survey work on behalf of Exxon…

20 Dec 2018

ExxonMobil Drops USD 25 bln Canadian LNG Project

Facility concept – image is for illustrative purposes only. Image:  Exxon Mobil Corporation

U.S. oil major Exxon Mobil Corp. has withdrawn its environmental assessment application for a $25-billion LNG export facility on the B.C. coast it proposed in 2015. No reasons given for withdrawing from environmental review process.“After careful review, ExxonMobil Canada and Imperial Oil Resources have withdrawn the WCC LNG project from the B.C. Environmental Assessment process,” a notice on WCC LNG website says. It also says that its websie will only be available until the end…

16 Dec 2018

Qatar to Invest USD 20 bln in US Energy Sector

Saad al-Kaabi, President & CEO. Photo: Saad Sherida Al-Kaabi

Peninsular Arab country Qatar has said that it plans to invest more than $20 billion in the US energy sector over the next five years.According to a report in Reuters, minister of state for energy affairs of the energy-rich Qatar Saad Sherida Al-Kaabi, who is also the  President & CEO of Qatar Petroleum, said he is looking to invest in US oil and gas sectors as well as unconventional resources.The report quoted Saad as saying: “North of USD20 billion will be invested over the…

04 Dec 2018

Rising Ship Supply Eases LNG Charter Rates

File Image: a fully laden LNG tanker transits the Med in this recent image. Credit: Robert Murphy

Limited availability drove LNG shipping rates to highs; but prices now falling as more ship supply becomes available.Inflated spot charter rates for liquefied natural gas (LNG) tankers are easing as more ships becoming available, which could help increase LNG trade if Asian demand rises in coming months.LNG charter rates are a key component of spot LNG trade, dictating the way the super-cooled gas is transported. Charter rates usually follow the price of LNG, which has fallen since September due to sluggish demand from Asian buyers.Rates have remained high for most of this year…

29 Nov 2018

Maersk Rosyth Completes 1,000 Voyages with ExxonMobil

Maersk Rosyth. Photo: Maersk Tankers

Maersk Rosyth, the Handysize vessel, has been on time charter with an ExxonMobil marine affiliate for 15 years and has recently completed her 1,000th voyage, demonstrating Maersk Tankers' long-term relationship with the customer."A voyage Maersk Rosyth has done 1,000 times over the past 15 years, Rotterdam to Port Jerome and back, as part of a time charter agreement between an ExxonMobil affiliate and Maersk Tankers," said a press statement from the oil tanker company.A time charter agreement commenced in 1999 and since then…

21 Nov 2018

SBM Orders Second Fast4Ward FPSO Hull

The contract signing ceremony took place at SWS shipyard on November 21, 2018, with representatives from SBM Offshore, including Bruno Chabas (CEO), Bernard van Leggelo (China Managing Director) and Srdjan Cenic (General Manager China), as well as Lei Fanpei, Chairman of board of CSSC and Wang Qi, Chairman of board of SWS. (Photo: SBM Offshore)

SBM Offshore signed a contract Wednesday for a second hull in its planned series of Fast4Ward floating production, storage and offloading units (FPSO) with Chinese shipyard Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd. (SWS).The order, which coincides with a keel laying ceremony for SBM's first Fast4Ward hull at the Shanghai shipyard, has been made before any engineering, procurement and construction (EPC) contract for the second hull. The Dutch company cited "continuing…

20 Nov 2018

Total Signs MoU on LNG Project

Image: Total

Total and its partners ExxonMobil and Oil Search have signed a Memorandum of Understanding (MoU) with the Independent State of Papua New Guinea defining the key terms of the Gas Agreement for the Papua LNG Project.According to a press release from Total the MoU was signed in Port Moresby, in presence of Peter O’Neill, Prime Minister of Papua New Guinea, and Patrick Pouyanné, Chairman and CEO of Total. The proposed Gas Agreement is expected to be finalized by Q1 2019.Total is the operator of the Elk and Antelope onshore fields and is the largest shareholder in PRL-15 with a 31.1% interest…

02 Nov 2018

Marad Taps Buono as USMMA Superintendent

Jack Buona, Superintendent of the U.S. Merchant Marine Academy

Maritime Administrator Mark Buzby has announced Jack Buono as the new superintendent for the U.S. Merchant Marine Academy.Buono will take command at the Academy on November 9, having most recently served as President and CEO of ExxonMobil’s shipping subsidiary, SeaRiver Maritime, Inc.“As a Kings Point graduate who spent his entire career in maritime leadership roles, Mr. Buono will help educate and inspire the next generation of maritime cadets,” said Maritime Administrator Mark H. Buzby.Following his graduation from the U.S. Merchant Marine Academy, Buono worked his way up from a U.S.

02 Nov 2018

ExxonMobil Rolls-out New Antwerp Unit to Produce Marine Fuel

Image: ExxonMobil

ExxonMobil has started operations of a new unit at its Antwerp refinery in Belgium to convert heavy, higher-sulfur residual oils into high-value transportation fuels such as marine gasoil and diesel.The new 50,000 barrel-per-day unit expands the refinery’s capacity to meet demand for cleaner transportation fuels throughout northwest Europe. The company’s investment in the new coker will also help meet anticipated demand for lower-sulfur fuel oil to comply with new standards to…

25 Oct 2018

US, Russian Energy Majors Join to Push LNG in India, Japan

Pic: ExxonMobil

Russia's energy major Rosneft and US ExxonMobil plan to build a liquefied natural gas (LNG) plant in a consortium with Indian and Japanese partners, spreading the estimated $15 billion cost, Reuters reported.The report said that  the LNG production project will come up in partnership with Japan’s SODECO and India’s ONGC Videsh.All four companies are partners in the Sakhalin-1 fields from which the requisite gas for the facility will be drawn, however Rosneft and Exxon had previously planned to build the facility without the other partners.As well as spreading the costs among more stakeholders…

18 Oct 2018

Eni Wins Offshore Mozambique Block

Image: Eni

Italian oil and gas major Eni has signed in Maputo the contract for the exclusive exploration and development rights of the offshore block A5-A, in the deep waters of the Northern Zambezi Basin, approximately 1,500 km to the north east of the capital Maputo.With this acquisition, Eni further strengthens its presence in Mozambique, a country that has a strategic relevance for the company, said a press release from the company.The block was awarded to Eni as a result of the participation to the 5th competitive Licensing Round launched by the Republic of Mozambique.

10 Oct 2018

Marine Lubricants Market to Reach USD 3.3 Bln by 2024

Image: Gulf Oil Marine Ltd.

The global marine lubricants market is anticipated to expand a robust CAGR of 4.17% during the forecasts period 2016 - 2024, says a study.According a recent study done by Transparency Market Research marine lubricants market which was valued US$2.3 bn is predicted to touch US$3.3 bn by the end of assessed period.On the basis of type of product, the global marine lubricants market is segregated into bio-based oil, mineral oil, and synthetic oil. Of these, the demand for mineral oil is high and is likely to remain like this during the forecast period owing to cost benefits that are provided.

03 Oct 2018

ExxonMobil Readies IMO 2020 Compliant Fuel

Pic: ExxonMobil Singapore

ExxonMobil said that all its International Maritime Organization (IMO) compliant 0.5% sulfur bunker fuels developed to date are residual grades.The oil giant  has also announced specification details and confirmed that the formulations are all compatible with each other, provided that bunkering, storage and handling best practice guidance is followed.All of ExxonMobil’s announced low sulphur compliant fuels will be residual grades and will also be compatible with each other, provided best practice guidance for bunkering…

03 Oct 2018

Singapore Funds Green Marine Fuel Program

Dr Lam Pin Min, Senior Minister of State, Ministry of Transport and Ministry of Health. Photo: Maritime and Port Authority of Singapore

Maritime and Port Authority of Singapore (MPA) has allocated about USD 3.64 million under the Green Energy Programme to support the development and use of cleaner alternative marine fuels such as biofuels and methanol. Senior Minister of State, Dr Lam Pin Min announced initiatives by Maritime and Port Authority of Singapore (MPA) said that companies can use the fund in their research and development in alternative fuels to meet future greenhouse gas emissions regulations.He said…

30 Sep 2018

Tim Kelly is the New CEO of Adriatic LNG

Tim Kelly. Photo: Adriatic LNG

Tim Kelly has replaced Suresh Jagadesan as the Managing Director of Adriatic LNG, which operates the regasification terminal located offshore from the Veneto coast.Before joining Adriatic LNG, Tim worked as the Marine Operations Manager at ExxonMobil’s gas liquefaction plant in Papua New Guinea.Tim has almost 40 years’ experience in the marine and Oil&gas sectors, starting his career in the Merchant navy. After joining ExxonMobil, he held positions of increasing responsibility…

20 Sep 2018

Chevron, ExxonMobil, Occidental Petroleum Join Oil and Gas Climate Initiative

Image: Oil and Gas Climate Initiative

The Oil and Gas Climate Initiative (OGCI) announced three new member companies that together represent 5% of global oil and gas production as it welcomed Chevron Corporation, Exxon Mobil Corporation, and Occidental Petroleum.The three new companies will become official members of OGCI as of September 24, 2018.With these additions, OGCI members now represent around 30% of global oil and gas production and supply close to 20% of global primary energy consumption. The 13 member companies represent regions including China…

13 Sep 2018

Marine Low Sulphur Fuel: Organizing the Switch

The International Maritime Organization’s (IMO) decision to implement a 0.50 percent cap on sulphur emissions has created uncertainty among vessel operators. Questions are already being asked about how to comply with the changing emissions target, what types of fuels will be available and where. However, ensuring compliance isn’t just about fuel selection; the actual switchover process from heavy fuel oil (HFO) to new, low-sulphur alternatives needs careful management. There are…

10 Sep 2018

Qatargas, PetroChina Sign 22-Years LNG Supply Deal

Photo: Qatargas

Qatargas, the world’s largest LNG producer,  has announced a long-term Sale and Purchase Agreement (SPA) with PetroChina International Company Limited, a unit of PetroChina Company Limited (PetroChina), to supply China with around 3.4 million tonnes of liquefied natural gas (LNG) per annum.Under the 22-year SPA, which ends in 2040, Qatargas will supply LNG from the Qatargas 2 project, a joint venture between Qatar Petroleum, ExxonMobil and Total, to different receiving terminals across China…

28 Aug 2018

Equinor Explores Floating Wind Turbines to Power N.Sea Oilfields

(Image: Equinor)

Norway's Equinor said on Tuesday it is considering whether to build a pioneering offshore wind farm with floating turbines to supply electricity to two North Sea oilfields as part of a strategy to curb greenhouse gas emissions.The project at the Gullfaks and Snorre oilfields would cost around 5 billion Norwegian crowns ($592 million) and could reduce Norway's emissions of carbon dioxide by more than 200,000 tonnes per year, Equinor said."This could be the first time an offshore wind farm is directly connected to oil and gas platforms," state-controlled Equinor said in a statement.

28 Aug 2018

Finland: A Hot-Bed of ICEBREAKER Technology

In 2016 the most recent Finnish icebreaker, Ib Polaris, was built at a cost of EUR123m. Arctia Ltd. received an LNG fueled double-acting PC4 class icebreaker capable of penetrating 1.8m thick level ice with a speed of 3.5 knots. Photo: Tuomas Romu and Arctia Ltd.

Finland is a traditional marine tech hub, with almost 90 company members in the Finnish Maritime Industries association. While the country has a storied maritime history across many sectors, based on geographic locale, it’s Arctic and ice marine technology is second to none, and it’s hoping the U.S. Coast Guard is taking notice.The Finnish maritime industry is hoping to get involved in developing the new icebreakers for the U.S. Coast Guard polar icebreaker program. Ulla Lainio…

22 Aug 2018

Saipem Wins $700 Mln Worth of Offshore Contracts

Photo: Saipem S.p.A.

Saipem has been awarded contracts for the second phase of the ExxonMobil led Liza development offshore Guyana.These contracts, assigned by Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of ExxonMobil, as the project operator, are in addition to those awarded to Saipem in 2017 for Liza Phase 1.Following engineering and subject to requisite government approvals, project sanction from the joint venture and an authorization to proceed with the next phase, Saipem will then perform detailed engineering…

Maritime Reporter Magazine Cover Dec 2018 - Great Ships of 2018

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