Venezuela

Saipem has launched offshore operations in Suriname, while Repsol is expanding exploration efforts in Venezuela and partnering with MOL Group and TPAO in the Mediterranean. Petronas, Shell, and Murphy Oil reported new discoveries in Suriname, Namibia, and Côte d’Ivoire, respectively, as Occidental acquired a stake offshore Trinidad and Tobago and BP began gas producti…

Five agreements target more than 11 Tcf of offshore gas and include flare-reduction technology.

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…

An asset swap with PDVSA helps consolidate the supermajor’s heavy-oil operations in the country.

The supermajors are seeking new US licenses to develop cross-border natural gas fields.

SPE President Jennifer Miskimins lent her expertise to Science Friday’s conversation about Venezuelan oil, explaining the reality of what it would take to extract and refine it.

US oil executives say large-scale investment in Venezuela will depend on governance reforms and sustainable legal protections.

Following a US military operation to arrest Venezuela’s president, analysts say there is no easy fix for the country’s beleaguered upstream sector.

Updates about global exploration and production activities and developments.

Shell has tapped the contractor to conduct engineering, procurement, construction, and installation work on the large gas field offshore Trinidad and Tobago.