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Rystad Energy cautiously revises Venezuela’s crude output growth amid sanction concerns

OilNOW -
Rystad Energy has adjusted its expectations for Venezuela's short-term crude output growth, expressing reservations about the nation's production trajectory given the current global oil market dynamics. Despite earlier predictions of a 200,000 barrels per day (b/d) expansion following the...
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After multiple delays, CGX prepares for Q2 start-up of cargo operations at Berbice port

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CGX is preparing to finally initiate cargo operations at the Berbice Deep Water Port (BDWP), with a targeted start in the second quarter of 2024, the company said in recent financial statements.  This follows multiple delays of work on the...
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Analyst sees new Canadian pipeline stirring up competition with Guyana barrels on U.S. West Coast

OilNOW -
As the Canadian Trans Mountain pipeline expansion project nears completion, likely in Q2 2024, an analyst from S&P Global Commodity Insights forecasts a shift in the dynamics of crude oil imports into the U.S. West Coast. This suggests a...
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Guyana is one of four incremental oil producers in the world – S&P 

Shikema Dey -
Factors affecting the global oil market have been plenty but prices have remained fairly balanced, said Carlos Pascual, Senior Vice President for Global Energy and International Affairs at S&P Global Commodity Insights. That is because of “strong oil balances”...
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TotalEnergies, QatarEnergy move to acquire stakes in South Africa’s 3B/4B

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TotalEnergies and QatarEnergy have inked an agreement to acquire participating interests in Block 3B/4B, offshore South Africa. This move sees the partners taking over stakes from Africa Oil South Africa, Azinam (a subsidiary of Eco Atlantic Oil and Gas),...
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SBM Offshore Guyana in search of more trainee technicians 

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SBM Offshore Guyana is paving the way for aspiring technicians by launching its Trainee Technician Programme for 2024. The initiative aims to cultivate a new generation of skilled professionals adept in safety protocols and technical competencies crucial for maintenance...
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July 28 set for Venezuela’s elections but Opposition ban still in place 

Shikema Dey -
 Elections are scheduled to be held in Venezuela on July 28, 2024 - the day that would have been Hugo Chavez's 70th birthday - to choose a president for a six-year term beginning on 10 January 2025. While this...
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Guyana is in Exxon’s top three deepwater developments around the world – Upstream President 

Shikema Dey -
ExxonMobil has placed Guyana in the ranks of its top three deepwater developments around the world, according to the President of its Upstream Company, Liam Mallon.  But in a few years, with the way producing is heading, its rank can...
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Petrobras achieves second-highest net income in history

OilNOW -
Petrobras, the Brazilian state-owned oil giant, has reported a net income of BRL 124.6 billion in 2023, marking its second-highest financial performance in history. Accompanying this figure are what Petrobras termed record-breaking results in  earnings before interest, taxes, depreciation, and...
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CNOOC discovers major light oil field in Kaiping South, China

OilNOW -
CNOOC Limited said it has made a major oilfield discovery at the Kaiping South field in the deep-water deep-play of the South China Sea, which adds over a hundred million tons of oil equivalent proved in-place volume. The Kaiping South...
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TechnipFMC reports strong Q3 2025 results driven by subsea growth

TechnipFMC has delivered another solid quarter, reporting total revenue of US$2.65 billion for the third quarter of 2025. Net...

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