article thumbnail

The Next Petro State? Suriname's Path to Oil Prosperity

OilPrice

Guyana’s offshore story began in earnest with ExxonMobil’s Liza-1 discovery in 2015, followed by first oil in 2019. What remains unclear is how far and how fast Suriname can go, and whether it intends to follow Guyana's high-volume path or chart a more calibrated trajectory. Today, production…

Oil 250
article thumbnail

OPEC+ Is Hunting for Market Share

OilPrice

Leaving Price Targets in the Past, OPEC+ Is Hunting for Market Share The upcoming OPEC+ meeting, initially planned for July 6 but subsequently moved a day earlier citing the Muslim holy day of Ashura, is set to see another expedited 411,000 b/d output increase as the oil group seeks to regain market share.

Oil 166
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Canada’s oil sands transformed into one of North America’s lowest-cost plays

Oil & Gas 360º

(BOE Report) – Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. tariff threats.

Oil 130
article thumbnail

Exxon vs. Chevron battle sets stage for oil industry’s race for prize assets: Bousso

Oil & Gas 360º

(BOE Report) – LONDON, July 18 – The high-stakes clash between Exxon Mobil and Chevron over a prized South American oilfield may be a sign of what’s to come in the oil and gas industry as competition for a shrinking pool of prime assets heats up. Chevron is set to finalize its $53 billion acquisition of U.S. energy sector.

Oil 130
article thumbnail

Chevron wins Exxon case but loses time, oil and billions

Oil & Gas 360º

oil producer managed to delay the tie-up by over a year, costing its rival billions in lost Guyana oil revenue and slowing integration. The offshore oilfield holds more than 11 billion barrels of oil and is one of the fastest-growing oil production regions in the world.

Casing 130
article thumbnail

Global LNG production will drive supply surge in 2026, says IEA

Oil & Gas 360º

(World Oil) – Global supply of liquefied natural gas is set to surge the most since 2019 next year, primarily driven by production additions in North America, the International Energy Agency said. The increase in supply will accelerate to 7%, or 40 billion cubic meters a year in 2026, following a 5.5%

article thumbnail

Venezuela’s PDVSA oil sales abroad hit $17.5 billion in 2024 as exports jump

Oil & Gas 360º

(Investing) – Venezuelan state-run PDVSA’s oil sales abroad in 2024 stood at $17.52 Venezuela has some of the world’s largest reserves of oil, but its crude output remains at a fraction of what it was a decade ago after a lack of investment, mismanagement at PDVSA and U.S. sanctions on Venezuela’s energy industry since 2019.

Oil 130