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Major offshore discoveries this year include countries as diverse as Russia, Cyprus, South Africa, Malaysia and Guyana. The majority of major discoveries so far this year have been in the offshore sector with over half being deep-water finds, VesselsValue,...

As US oil major ExxonMobil, operator at the 6.6 million acres Stabroek Block, prepares for first oil in the South American country of Guyana, the company is also ramping up its search for more hydrocarbons with a number of...

Mexican state-owned petroleum company Petróleos Mexicanos (Pemex) announced on Friday the discovery of the Sen field in Nacajuca, Tabasco, with 536 million barrels of oil equivalent. General Director of Pemex, Octavio Romero Oropeza, informed Mexican President, Andrés Manuel López Obrador that three other...

Barring unfavourable weather conditions or other factors that could result in a delay, the South American country of Guyana could now be just weeks away from producing its first barrel of oil, thereby ushering in a new era of...

SBM Offshore said Thursday it has signed contracts for the construction of the Company’s fourth and fifth hulls under its purchase program for Fast4Ward® new build multi-purpose hulls. The contracts were signed with Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd....

OPEC and allies led by Russia on Thursday agreed one of the deepest output cuts this decade to support crude prices and prevent a glut but were still debating how long the curbs would last next year. The Organization of...

According to the law firm Haynes and Boone, 50 energy companies filed for bankruptcy in the first nine months of 2019. These include 33 oil and gas producers, 15 oilfield services companies, and two midstream companies. Market Realist said in...

(Reuters) - With Mexico’s government insisting that energy companies increase oil and gas output before it auctions off more of the country’s vast reserves or offers more partnerships with state-run Pemex, firms ranging from foreign majors to local players...

South American neighbours Brazil and Guyana are experiencing unprecedented investments in oil developments that will see production from these countries ballooning in coming years to more than 2.5 million b/d by 2025. Industry analyst Wood Mackenzie says the global deepwater...

Combined oil production from non-OPEC countries such as Guyana is expected to grow at record speed in 2020, creating a headache for the Organization of the Petroleum Exporting Countries (OPEC), which is scheduled to meet this week in Vienna...