Australian miner BHP Group Ltd. said May 5 it had achieved first oil production from its Ruby project offshore Trinidad and Tobago.
The development consists of oil and gas production wells and is expected to produce 16,000 gross barrels of oil per day after completion, the company said in a statement.
The project is among a portfolio of petroleum projects owned by the world’s largest listed miner that includes the Bass Strait operation offshore Australia, that it co-owns with a unit of oil giant Exxon Mobil Corp.
BHP, which owns a 68.46% stake in the Ruby project, said it is expected to be completed by third-quarter 2021.
Recommended Reading
What a Trump Win Would Mean for Oil Prices and Stocks
2024-08-23 - A second Trump administration might move the price needle on oil slightly, but OPEC would retain the upper hand in any outcome.
Paisie: Geopolitics, Economic News Rattle Oil Markets
2024-08-21 - Demand is expected to outstrip supply in third-quarter 2024, with prices in the $80s.
DC Appeals Court Shoots Down White House’s Pipeline Safety Rules
2024-08-20 - The Interstate Natural Gas Association of America brought the suit against five new regulations, claiming the new rules did not provide enough benefits to justify the costs associated with implementation.
Belcher: How Overturning the Chevron Deference Will Impact Energy Regs
2024-08-20 - The decision will enable the industry to challenge an array of federal regulatory actions.
Mexico Energy Forum: Election Impacts on US-Mexico Energy Trade
2024-08-15 - Mexico Energy Forum President Roberto Salinas León shared his thoughts with Oil and Gas Investor on a number of themes related to recent elections in Mexico.