South America

Since the US arrested and removed Venezuelan President Nicolás Maduro on 3 January 2026, all eyes have turned toward the country’s vast oil reserves, the largest of any country. From 2005 to 2024, oil production in Venezuela fell by 70%, from 3.1 million B/D to just 0.9 million B/D. The race is on to bring production back, but aging infrastructure and expatriation pre…

Equinor generated its first revenue from the Adura joint venture with Shell, formed in late 2025, highlighting strong early cash flow from key UK fields including Mariner and Buzzard.

Opening day remarks from President Mohamed Irfaan Ali framed fossil fuels and renewables as parallel systems amid rising demand and structural supply pressures.

Saipem can begin early subsea engineering on ExxonMobil’s Longtail project in Guyana under a Limited Notice to Proceed, while the operator awaits final investment decision and government sign-off.

The multiyear contract with YPF includes electric pumping units and automated stimulation services.

Agreements create long-term frameworks to advance offshore Suriname developments, aiming to streamline project delivery, reduce costs, and accelerate field development through early integration across the project life cycle.

The chair of the SPE Georgetown Section outlines how balanced, apolitical dialogue can support development amid rapid energy expansion.

The Norwegian company has expanded its power-generating capacity in Brazil by acquiring a 230-MW onshore wind complex.

The operator developed a solution that has kept the well at stable production for over a year after treatment.

The project with ExxonMobil used closed-loop drilling and digital well-construction technologies.