ExxonMobil, Hess mark seventh oil discovery off Guyana

ExxonMobil Corp. affiliate Esso Exploration & Production Guyana Ltd. encountered 65 ft of high-quality, oil-bearing sandstone following drilling at the Pacora-1 well offshore Guyana. The well was drilled to 18,363 ft in 6,781 ft of water. The oil discovery marks the seventh on the Stabroek block for the company. Drilling commenced on Jan. 29.  […]

ONGC launches Bokaro coalbed methane development

India’s Oil & Natural Gas Corp. is targeting 2 million cu m/day from three coalbed methane blocks in Jharkhand state. The operator spudded the BE No. 95 development well on Feb. 25, launching a field development plan to drill 30 years within the following year. Source: News

Chennai Petroleum commissions RUP project at Manali refinery

Chennai Petroleum Corp. Ltd., a partly owned subsidiary of Indian Oil Corp. Ltd., has fully started up its long-planned residue upgradation project (RUP) at its 10.5 million-tonne/year Manali refinery in Tamil Nadu, India.  Source: News

OMV selling upstream interests in Pakistan

OMV has agreed to sell its exploration and production interests in Pakistan to Dragon Prime Hong Kong Ltd., Hong Kong, for €157 million, subject to adjustments.  Source: News

EIA: US crude oil inventories up 3 million bbl

US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 3 million bbl for the week ended February 23 from the previous week, the US Energy Information Administration said. Source: News