News

Guyana is preparing for its next major step in offshore oil production with the Uaru development, ExxonMobil’s upcoming project in the Stabroek Block. Rather than opening a new frontier, Uaru deepens production in an already proven basin. The project is...

PARAMARIBO, SURINAME – Suriname’s oil and gas sector is set for a pivotal 2026 as it transitions from exploration promise toward project delivery and commercial decisions. With offshore developments advancing and several key milestones due this year, industry stakeholders,...

United States Energy Secretary Chris Wright has disclosed plans to leverage control over Venezuela’s oil exports and revenue generated by the Spanish-speaking nation.  In a January 7 press conference in Washington, Wright said the move is central to the U.S....

Exxon Mobil has cautioned that any return to Venezuela’s oil sector will depend on major legal reforms and a detailed technical assessment of the country’s assets. Exxon’s Chairman and Chief Executive Officer, Darren Wood, has stressed that the country remains...

Suriname’s offshore GranMorgu oil project is progressing as planned, with overall development now 25% complete, according to Staatsolie. The update was released by the state oil firm on December 30. Staatsolie said construction of the floating production, storage and offloading...

Guyana is emerging as one of the world’s most strategically positioned oil producers. Expanding offshore reserves and easing geopolitical pressures are strengthening its position as a long-term energy powerhouse, according to Canadian energy strategist Steven Rowles. Speaking on BNN Bloomberg...

Chevron is positioning itself for rapid growth in Venezuela as the United States signals support for renewed investment following the country’s political transition, with US President Donald Trump urging major oil companies to pour US$100 billion into expanding Venezuelan...

Guyana’s crude oil grades have fallen to their lowest levels since the COVID-19 pandemic era, with prices dipping below US$60 per barrel in recent weeks, even as ExxonMobil’s fast-growing output and low breakevens keep the oil competitive. Data published on...

Oil production from Guyana’s Uaru field is expected to rise steadily after start-up, strengthening offshore supply over the medium term, according to S&P Global Energy CERA.  “…production at the ultra-deepwater Uaru field is estimated to begin in July at nearly...

ExxonMobil said market conditions and planned activities are expected to materially affect its fourth quarter 2025 results compared with the third quarter. This is according to a Form 8-K filing with the U.S. Securities and Exchange Commission on January...