The largest oil producer in South America anticipates continued growth in oil and natural gas production in 2024, primarily driven by offshore field developments and the deployment of new floating production, storage, and offloading vessels (FPSOs).
January 07, 2024
State-owned Petroecuador has announced a significant milestone, reaching a new production peak of 404.29K b/d, or 413.241K boe/d when factoring in natural gas production.
December 31, 2023
Venezuela's President Maduro's deployment of over 5,600 armed forces personnel in response to the UK's naval actions near Guyana has escalated the long-standing territorial dispute between the two nations.
December 31, 2023
The Mideast producer, amid existing sanctions, reports a notable surge in its oil and gas exports.
December 31, 2023
In a historic move, the administration has significantly reduced the number of oil and gas lease sales on the US outer continental shelf (OCS), slashing the initially proposed 47 down to a mere three in the final oil and gas leasing program for 2024–29.
December 25, 2023
Angola, Africa's second-largest oil producer, has decided to exit OPEC after 16 years of membership, citing a lack of benefits and relevance.
December 25, 2023
Producers in this region are facing a critical juncture as they navigate a challenging landscape in 2024.
December 25, 2023
Namibia's Southwest African Coastal Basin, once dismissed as an
December 25, 2023
The market is witnessing a seismic shift in dynamics, notably driven by the US, which achieved a record-breaking oil production of over 13MM b/d in Sept., surpassing all other nations.
December 23, 2023
In recent exploratory ventures, Petrobras, alongside Shell, Chevron, and CNOOC, secured rights to explore 44 deep-water areas in Brazil's Pelotas basin, previously untapped for oil operations.
December 17, 2023
