Markets

The country has granted approval for the development of the Rosebank oil and gas project in the North Sea, representing a significant investment of $3.8 billion by operator Equinor and partner Ithaca Energy.

The developing world with burgeoning populations and evolving economies is voicing their reluctance to adhere to the International Energy Agency's (IEA) recommendation of curbing new upstream oil developments to achieve net-zero emissions by 2050.

The South American producer is contemplating the possibility of commencing oil exploration activities in the environmentally sensitive Equatorial Margin offshore area, which encompasses the Foz do Amazonas, Pará-Maranhão, and Barreirinhas basins.

Venezuela has strongly criticized Guyana's recent offshore oil bidding round, asserting that companies seeking up to eight blocks in the region will not have the rights to explore these maritime areas.

French energy major is embarking on an ambitious offshore oil project in Block 58, situated off the coast of Suriname.

A recent announcement from Rystad Energy has highlighted the thriving state of the North Sea oil and gas industry.

The actions by OPEC+ member countries have sent ripples through the global oil market, particularly affecting the availability and pricing of medium and heavy sour grades of crude oil.

The outlook for U.S. oil production has become a subject of debate within the industry, as varying opinions emerge about whether it is approaching a peak or if growth will persist.

The South American country’s oil and gas production soared to unprecedented heights in July, marking a significant milestone for the country's energy industry.

Guyana, a small South American nation with a population of approximately 800,000, is poised to become a significant player in the global oil supply landscape.