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
Ongoing discord within OPEC+ regarding deeper production cuts has resulted in a lackluster announcement, pressuring oil prices lower.
December 10, 2023
The recent surge in US crude oil production, reaching a record 13.2MM b/d in Sept., is posing a significant challenge to OPEC's efforts to stabilize oil prices and implement production cuts.
December 10, 2023
In a recent escalation of geopolitical tensions, Venezuelan President Nicolas Maduro's pursuit of annexing oil-rich Essequibo has placed ExxonMobil and Chevron in a precarious position.
December 10, 2023
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
