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The United States Department of Treasury’s Office of Foreign Assets Control on Monday June 2, 2020, designated four companies for operating in the oil sector of the Venezuelan economy. Additionally, OFAC identified four vessels as blocked property. “Department of Treasury...

SBM Offshore is looking to fill several more positions for its activities in Guyana where it operates the Liza Destiny Floating Production Storage and Offloading (FPSO) oil production complex at the Stabroek Block. The company said in a new advertisement...

(AJazeera) Iran has said it will continue fuel shipments to Venezuela if Caracas requests more supplies, despite criticism from the United States of trade between the two nations, both under US sanctions. "Iran practices its free trade rights with Venezuela,...

Steve Greenlee, President of ExxonMobil Upstream Business Development Company, has elected to retire on July 1 after more than 38 years of service. Exxon Mobil Corporation said Monday its board of directors has appointed Linda DuCharme as president of ExxonMobil...

Qatar Petroleum said on Monday it has entered into three agreements to reserve LNG ship construction capacity in the Republic of Korea to be utilized for Qatar Petroleum’s future LNG carrier fleet requirements, including those for the ongoing expansion...

(Bloomberg) The oil market took an initially neutral view on OPEC+ deliberations that could result in the producers group announcing a short extension to unprecedented output curbs. Futures in New York were virtually unchanged near $35 a barrel. The Organization of Petroleum...

The prolific Stabroek Block offshore Guyana has been described as the ‘block that keeps giving’ with 16 discoveries to date delivering more than 8 billion barrels of oil equivalent resources. Now, all eyes are on the adjacent Canje Block...

The delay in the commencement of the next session of Parliament in Guyana is affecting the hiring of an Independent Administrator which will play a key role in compiling the country’s second report for submission to the International Secretariat...

The earliest known oil wells were drilled in China in 347 CE. These wells had depths of up to about 240 metres (790 ft) and were drilled using bits attached to bamboo poles. The oil was burned to evaporate brine and produce salt. By the 10th century, extensive bamboo pipelines connected oil...

Large institutional investors decreased their net holdings in many of the world's largest integrated oil and gas majors in the first three months of the year as measures to curb the spread of COVID-19 crushed petroleum demand, crashed oil...