Going deep: ExxonMobil has struck oil again. As FuelFix.com reports, the company announced today that it has made a second oil discovery off the coast of Guyana, in another reservoir 10 miles northwest of the large Liza field it discovered in 2015. ExxonMobil’s affiliate in the Latin American country found 95 feet of oil-soaked sandstone, called the Payara discovery, after it drilled some 3.4 miles below the earth. ExxonMobil estimates its Liza field has 100 million to 150 million barrels of oil equivalent, and the company is weighing whether the new Payara field could be developed in conjunction with the Liza field. Some analysts expect ExxonMobil to reach its final investment decision on the Liza field this year. Read the full story.
Jobs galore: Amazon plans to create more than 100,000 full-time jobs in the U.S. by mid-2018, becoming the largest company to promise job creation during President-elect Donald Trump’s first term, The Wall Street Journal reports. The additional jobs would swell Amazon’s U.S. workforce, which comprised 180,000 workers last year. Many of the new jobs will be at already announced warehouses under construction in Texas, California, Florida, New Jersey and elsewhere, the Seattle-based company says. Some of the new jobs would be in areas such as cloud technology, machine learning and advanced logistics, Amazon CEO Jeff Bezos says. Read the full story.
Bigger budget: Global energy company Hess Corp. says it is boosting its production and exploration budget to $2.25 billion this year, an increase of $350 million or 20% over last year’s budget, FuelFix.com reports. Several exploration and production companies have already announced that they expected to increase spending after the two-year downturn that plagued the oil and gas sector. New York-based Hess, which has operations in the Gulf, is one of the first to announce its increased budget this year. The company expects production to increase 8% to 12% over the year as it ramps up drilling. Read the full story.