OPEC+ members have collectively agreed to implement additional voluntary crude production cuts totaling approximately 2.2MM b/d in response to challenges in the oil market.
December 03, 2023
The South American major oil producer’s impending membership in the OPEC+ coalition, without mandatory production quotas, bears implications and potential impacts on the global oil market.
December 03, 2023
The Venezuelan government is making final preparations for a Dec. 3 referendum to address its longstanding dispute with Guyana over the oil-rich Essequibo territory.
December 03, 2023
Malaysia's state-owned energy firm, in collaboration with its petroleum-arrangement contractors, has marked a significant achievement in 2023 with 19 exploration discoveries and two exploration-appraisal successes in Malaysia's Sarawak Basin, Northwest Sabah Basin, and Malay Basin.
December 03, 2023
Guyana has taken its long-standing territorial dispute with Venezuela to the International Court of Justice, seeking an order to halt Venezuela's planned referendum on the oil-rich Essequibo region.
November 26, 2023
Iran anticipates an increase in oil production to 3.6MM b/d by Mar. 2024, up from the current 3.3MM b/d.
November 26, 2023
The continent is anticipated to experience a gradual decline in oil production in 2024, according to insights from the African Energy Chamber.
November 26, 2023
The country is poised to establish a new annual oil production record in 2023, with Oct. marking the highest oil production month in the country's history.
November 19, 2023
The South American leading oil producer has proudly announced that its platform vessel P-71 has reached its peak production level, hitting an impressive milestone of 150K b/d in the pre-salt layer of the Santos Basin.
November 19, 2023
Colombia's leading oil company, Ecopetrol SA, reported a historic achievement in reaching its highest production levels since the fourth quarter of 2015.
November 19, 2023
