News

Increased offshore development activity in Guyana, Brazil and Mexico supported SLB’s Latin America performance during the second quarter of 2026, with the oilfield services company reporting US$1.71 billion in regional revenue. SLB reported its second-quarter results on July 24, showing...

All offshore oil projects are designed with its final day in mind. Long before a floating production, storage and offloading (FPSO) vessel begins producing oil, operators must plan how wells will be sealed, subsea infrastructure managed, and facilities safely...

Guyana’s crude has earned a reputation for being light and sweet, making it attractive to refiners because it is easier and less expensive to process into products such as gasoline, diesel and jet fuel. Increasingly, however, another quality is...

Global oil and gas majors are expanding their exploration portfolios, but most new agreements are focused on securing future opportunities rather than committing to immediate drilling activity, according to an analysis by Westwood Global Energy Group. The analysis, published on...

Guyana President Irfaan Ali on Sunday named a five-member international Commission of Inquiry (CoI) to investigate the MV Barima tragedy. The panel includes specialists from Belize, Poland, Jamaica, and Trinidad and Tobago. It will examine the July 18 capsizing, the...

Saudi Arabia-based Advanced Energy Systems (ADES) has become the world’s largest offshore drilling rig manager, with 77 units under management by mid-2026, according to an analysis by Westwood Global Energy Group published on July 23. ADES moved into the top...

The floating production, storage and offloading (FPSO) vessels operating offshore Guyana may be the most visible part of the nation’s oil industry, but production begins thousands of feet below the ocean surface through a complex network of wells, subsea...

Guyana’s offshore oil industry moved 260 crude cargoes in 2025, carrying production from four floating production, storage and offloading (FPSO) vessels operating in the Stabroek Block to international markets. Every tanker carrying Guyana’s crude must operate within a global framework...

Eco (Atlantic) Oil & Gas and Navitas Petroleum expect to complete negotiations with the Guyana government for a new production sharing Agreement covering the Orinduik Block area in the third quarter of 2026. The agreement would allow the companies to...

Saipem has secured a contract valued at approximately US$260 million to support a long-term offshore drilling campaign for Eni Côte d’Ivoire Limited, with operations expected to begin in early 2027. The contract was awarded by Eni Côte d’Ivoire Limited, a...