Frontera Energy has signed a crude supply deal worth up to $120mn with Chevron Products Company, including an initial $80mn prepayment and an option for additional funding.
Global crude oil production is expected to rise by 0.8 million barrels per day in 2026, with Brazil, Guyana and Argentina contributing 50% of the projected increase.
Interceptions of ships linked to Venezuelan oil are increasing, pushing shipowners to suspend operations as PDVSA struggles to recover from a cyberattack that disrupted its logistical systems.
Chinese oil group CNOOC continues its expansion strategy with a new production start-up in the Pearl River Basin, marking its ninth offshore launch in 2025.
In New York, Chevron outlines its long-term vision following the Hess integration, focusing on financial stability, spending reduction, and record production to consolidate investor confidence.
The American oil major saw its revenue decline in the third quarter, affected by lower crude prices and refining margins, despite record volumes in Guyana and the Permian Basin.
CNOOC Limited announced continued growth in oil and gas production, reaching 578.3 million barrels of oil equivalent, while maintaining cost control despite a 14.6% drop in Brent prices.
Energy services provider SLB saw its net income fall by 38% year on year in Q3 2025, even as the integration of ChampionX helped lift revenue by 4% sequentially.
Increased output from Opec+ and non-member producers is expected to create a global oil surplus as early as 2025, putting pressure on crude prices, according to the International Energy Agency.
With net output reaching 384.6 million barrels of oil equivalent, CNOOC Limited continues its expansion, strengthening both domestic and international capacities despite volatile crude oil prices.
FPSO One Guyana begins production as part of the Yellowtail development, with enhanced technical capabilities to optimise reliability and maintenance in deep waters.
The dispute over the Corentyne block licence pits Frontera Energy and CGX Energy against the Guyanese government, amid major contractual and offshore investment stakes in the oil sector.
Sierra Leone relaunches an ambitious offshore exploration campaign, using a 3D seismic survey to evaluate up to 60 potential oil blocks before opening a new licensing round as early as next October.
ExxonMobil has been named the most admired upstream exploration company in Wood Mackenzie’s latest annual survey, recognised for its performance in Guyana and its ability to open new resource frontiers.
As Venezuelan elections approach concerning the oil-rich disputed Essequibo territory, Guyana emphasizes increased vigilance, citing risks to its energy and territorial sovereignty amid Caracas' claims.
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SBM Offshore posted quarterly revenue of $1,103mn, driven by the Turnkey segment, while maintaining full-year targets and advancing the deployment of its floating units scheduled for 2025.
