Tag: ExxonMobil

ExxonMobil took a Delayed Coker Unit into operation at its refinery in Antwerp at the start of April. The unit converts heavy, high-sulphur oil products into cleaner transport fuel like diesel and fuel oil for shipping. The new plant represents an investment of over 1 billion euros. The DCU has been created ahead of the new shipping regulations, which will come into force on 1 January 2020.

ExxonMobil announced that it made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery complements the previously announced estimated recoverable resource of approximately 5.5 billion oil-equivalent barrels on the Stabroek Block. Yellowtail-1 is the fifth discovery in the Turbot area.

ExxonMobil is discussing to create a platform that would enhance the export reach of Israel’s largest natural gas field. The oil major is negotiating with Israel’s Leviathan reservoir to establish a floating LNG vessel. This project would enable Leviathan to export to countries that cannot be reached with pipelines and avoid building expensive infrastructure to connect to LNG facilities in Egypt.

As IMO 2020 sulphur regulation approaches, ExxonMobil and WingD partner to provide ship owners and operators an integrated system for engine optimisation. Both companies announced that details from their partnership will be leveraged to develop next-generation engines and lubrications solutions.

As the world is preparing for IMO's 2020 sulphur cap fuel regulation, oil major ExxonMobil’s marine fuels outfit is innovating to be at the forefront of the emerging low sulphur market, as Forbes reports. The oil major sees the sulphur regulations as an opportunity and not as an operational problem. 

The construction of the new industrial port of Vassilikos is expected to begin operations in 2023, as Cyprus News Agency reports. The port will operate as a service centre for the oil and gas industry in Cyprus and the wider region, and its costs will be around €250 million.

ExxonMobil along with partner Qatar Petroleum completed their drilling operation of the second exploration well in the Block 10 offshore Cyprus and has made a gas discovery. The Ministry of Energy, Commerce and Industry said the well, named Glaucus-1, had been successfully completed.

A group of major oil and gas companies have joined forces to establish the first industry blockchain consortium in the United States. The move is aligned with the rising interest on blockchain technology for trade industry in recent years.

Qatar Petroleum and ExxonMobil have taken the final investment decision for developing the Golden Pass LNG export project, which is located in Sabine Pass, Texas. The LNG export project is owned by Golden Pass Products LLC, a joint venture between affiliates of Qatar Petroleum, holding the 70% and ExxonMobil, the 30%.

According to Rystad Energy’s annual exploration review, ExxonMobil is leader of the pack among the top oil and gas explorers of 2018. This is because of its significant investment in Guyana. Rystad Energy looked at the number of exploration wells, net discovered resources and the value creation from wells drilled in new prospects during 2018.