Featured

More than half of the world’s planned licensing rounds are likely to be cancelled this year due to the combined effect of the COVID-19 pandemic and the ongoing oil price war, a Rystad Energy impact analysis forecasts. New licensed...

(Bloomberg) Global oil demand is being destroyed as the coronavirus forces people around the world to remain indoors and avoid all unnecessary travel. Currently, between a third and a half of the world’s population are in lockdown, meaning few people...

In a report released this month on the impact of COVID-19 on the Caribbean region, the Inter-American Development Bank (IDB) said the pandemic coupled with low oil prices and Guyana’s elections conflict are expected to have deep implications for...

While Guyana’s Gross Domestic Product (GDP) is projected to grow by 51.7 percent in 2020 and 8.7 percent in 2021, the still incomplete national election outcome, the current low oil price market and the ongoing battle with the COVID-19...

After a 4-day marathon of global meetings and arduous and sometimes frustrating negotiations involving the U.S., Mexican, and Russian Presidents as well as the Crown Prince of Saudi Arabia, the OPEC+ group agreed to collectively cut production in May...

US-based international industrial service company Baker Hughes announced on Monday its financial update in response to the significant decline in oil and gas prices and the COVID-19 pandemic. In addition to taking critical steps to reduce the spread and...

Italian-based engineering company Saipem says that the death which occurred on Friday on board the Saipem FDS ship, currently located in the port district of Waalhaven in Rotterdam, happened due to natural causes, as confirmed by the investigations of...

(S&P Global) On the precipice of a production boom that could transform its struggling economy, Guyana has attracted the drill bits of some of the largest international oil companies in recent years. Now, amid a collapse in global oil demand...

Foreign workers in Singapore will be temporarily housed in two floating accommodation facilities from this week in a bid to contain the coronavirus spread, The Straits Times said in a report on Sunday. The Maritime and Port Authority of Singapore...

(BBC) OPEC producers and allies have agreed a record oil deal that will slash global output by about 10% after a slump in demand caused by coronavirus lockdowns. The deal, agreed on Sunday via video conference, is the largest cut...