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The International Monetary Fund (IMF) says commodity exporters in South America will face all round lower export revenues as a result of the COVID-19 pandemic both from the drop in prices and reduction in export volumes, especially to China, Europe...

Suriname’s first major offshore oil discovery at the Maka Central-1 field in Block 58 could move to production in 5 to 6 years and expectations are high that multiple projects could come on stream within the same period. Reports indicate...

(S&P Global) Brazilian state-led oil company Petrobras slashed administrative staff by at least 50%, including at operations units such as refineries and production facilities, amid expanding efforts across Latin America's biggest country to limit social contact and avoid dissemination...

(Tribune Business) An oil explorer has delayed the drilling of its first well in Bahamian waters until late May/early June to ensure the coronavirus crisis does not cost it “millions of dollars”. Simon Potter, the Bahamas Petroleum Company’s (BPC) chief...

Bristow Helicopters has successfully repatriated offshore workers in the oil and gas industry with suspected cases of the novel coronavirus – COVID-19 – using three specially-configured former search and rescue aircraft. Three suspected COVID-19 cases have been flown from offshore...

CNOOC Limited announced on Friday the appointment of Hu Guangjie as Executive Director and President. The company said Xu Keqiang has resigned as the President and he remains as an Executive Director and the Chief Executive Officer of the Company. CNOOC...

(Bloomberg) -- Venezuela’s government is shutting fuel stations nationwide to ration dwindling gasoline inventories as a quarantine designed to stop the coronavirus paralyzes the country, seven people said. Just a few dozen of Petroleos de Venezuela SA’s 1,800 gas stations...

(Wood Mackenzie Analysis) The coronavirus outbreak has derailed OPEC+, thrown the oil market into turmoil and sent an already unloved sector into freefall, setting in motion a chain of events that led to the biggest fall in the oil price...

Crude oil is an important source of energy and used in domestic as well as transport and industrial sector widely. This is the reason it is considered as the crucial and important factor of economic development of the country....

The largest oil supply surplus the world has ever seen in a single quarter is about to hit the global market from April, creating an imbalance of around 10 million barrels per day (bpd). An exclusive Rystad Energy analysis...