WorldOil Hess cuts CAPEX and exploration budget by $800 million, focuses on Guyana The reductions to the company’s 2020 capital budget will be primarily achieved by shifting from a six-rig program to one rig in the Bakken, which is expected to be completed by the end of May. Most discretionary exploration and offshore drilling activities, excluding Guyana, will also be deferred. Daily Brief podcast, Monday, March 2nd In today's episode, oil climbs on signs that market intervention may be near, Guyana holds an election critical to its energy future, and more. Ampelmann enters Guyana with SBM Offshore contract In a contract with SBM Offshore, the company assisted the hook-up and commissioning of their FPSO. Guyana’s election to decide who controls the nation’s oil boom Control of the world’s fastest-growing economy and its massive offshore oil fields are up for grabs Monday as Guyana votes in national elections. Tullow to slash jobs, close offices after poor Africa and Guyana results Tullow Oil will reduce its headcount in Kenya by about 40% as part of a company-wide restructuring following poor performances at its Africa and Guyana operations. ExxonMobil’s latest discovery raises Guyana recoverables above 8 billion barrels ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 billion oil equivalent barrels and made a further oil discovery northeast of the producing Liza field at the Uaru exploration well, the 16th discovery on the Stabroek Block. OPEC sees growing supply threat from rivals beyond U.S. shale OPEC’s latest forecasts suggested a weaker outlook for global oil markets this year as surging supplies from competitors from Norway to Guyana threaten the group’s efforts to defend crude prices. Hess dodges shale decline, leads SandP 500 via ‘fairy tale’ Guyana find Hess rose above the carnage in shale stocks with a more traditional approach to oil exploration – partnering in a massive offshore discovery in a frontier nation. Tullow slumps as Guyana oil find is smaller than expected The independent oil producer’s first discovery of the new year comes after a calamitous 2019 in which its stock declined 64% and the chief executive officer and exploration chief stepped down. ExxonMobil and partners discover more oil in Stabroek block offshore Guyana ExxonMobil and its partners announced another oil discovery on the Stabroek Block offshore Guyana, southeast of the Liza Field. The discovery adds to the current gross recoverable resource estimate of more than 6 Bboe.