(By Oil & Gas 360) – A decade ago, Guyana wasn’t part of the global oil conversation. Today, it’s one of the most important new sources of supply in the world. Few countries have moved from discovery to production as quickly or as successfully. What started as a high-risk exploration play has become a case study in how modern oil development can
(Oil Price) – Venezuela has signed agreements with two U.S. energy firms to operate in the country as a growing number of international oil and gas companies are vying to return to the world’s biggest crude resource holder. The Venezuelan government of interim President Delcy Rodríguez has just signed agreements with U.S. firms Hunt Overseas Oil Company and Crossover Energy, which plan to
(Investing) – Venezuela’s oil exports increased 14% to 1.23 million barrels per day in April, marking the highest level in more than seven years, according to shipping data and documents from state company PDVSA released on Friday. The rise in exports was driven by increased sales to the United States, India and Europe. A total of 66 vessels departed from Venezuelan
(World Oil) – bp Plc and Venezuela agreed on a deal to explore for natural gas offshore as the South American country’s energy revival gathers pace following the U.S. capture of Nicolas Maduro. The memorandum of understanding between bp and Caracas establishes “potential areas for co-operation in material gas and future exploration,” bp said Wednesday in an emailed statement. Venezuela state firm
(By Oil & Gas 360) – Ecuador’s oil and gas sector sits at a familiar but increasingly urgent point: strong resource potential, declining production, and a government actively trying to bring foreign capital back into the system. What makes Ecuador different today is not the geology, but the tension between investment opportunity and political reality. With roughly 8 billion barrels
(By Oil & Gas 360) – Two countries. Two frontier basins. Two very different stages of the same story. Guyana and Namibia are now central to the next wave of global oil supply. Both have delivered major discoveries, attracted the world’s largest oil companies, and reshaped the flow of capital into frontier exploration. But beyond the surface similarities, they represent very
(By Oil & Gas 360) – Colombia’s oil and gas sector is at a turning point. It remains one of Latin America’s more established producers, with meaningful output, functioning infrastructure, and a strong national oil company. At the same time, policy direction, political uncertainty, and declining reserves are reshaping how investors view the country. What used to be a relatively straightforward upstream
(By Oil & Gas 360) – Latin America is moving back into focus for oil and gas investors. Not because it’s new, but because it offers something increasingly hard to find: resource depth, near-term production potential, and geographic diversification in a more fragmented global market. From Brazil’s deepwater fields to Guyana’s rapid rise, and from Argentina’s shale to Venezuela’s reopening,
(World Oil) – Transocean has secured a long-term contract extension with Petrobras for its ultra-deepwater drillship Deepwater Corcovado, adding approximately $445 million to the company’s backlog. The 1,156-day extension will begin in direct continuation of the rig’s current work offshore Brazil and is expected to keep the drillship contracted through November 2030. The award reflects continued demand for high-specification ultra-deepwater drilling capacity in Brazil’s
(By Oil & Gas 360) – A quiet shift is underway in global energy, and it is increasingly centered in the Americas. From U.S. shale and LNG exports to Brazil’s offshore growth and Canada’s expanding export reach, the Western Hemisphere is moving from a regional supplier to a global stabilizing force. At a time when traditional supply routes are under pressure
(Oil Price) – Just over a month since President Donald Trump’s decision to go to war with Iran, taken in the shadow of his military intervention in Venezuela, the contrast between the two is hard to ignore. One intervention is drifting into uncertainty, while the other is settling into something easily described as a success. As the world’s attention remains fixed
(World Oil) – A leading supplier of deep-water drilling rigs to Brazil’s national oil company expects the industry to favor oil and gas projects in Latin America, where geopolitical risk is lower than the Middle East. Constellation Oil Services Holding SA recently extended three offshore drilling contracts with Petrobras and is optimistic about Brazil’s exploration prospects in other deep-water regions, including
