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Crude oil futures ticked up during midmorning trade in Asia on December 30 as bullish data from the American Petroleum Institute (API) boosted market sentiment, even as new cases of the mutant coronavirus strain surfaced around the world, S&P...

Oil companies operating in Brazil have long complained about delays getting drilling permits and environmental impact reports approved by the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA). Just recently, S&P Global Platts reported that Brazil’s National Energy...

President of Guyana, Dr Irfaan Ali is urging Guyanese living in Canada to return home to invest as he signaled his Government’s commitment to ensuring an enabling environment for economic prosperity. Mr. Ali made the appeal at the weekend during...

(Reuters) Even as global prices end the year at about $51 a barrel, near the average for 2015-2017, it masks a year of volatility. In April, U.S. crude plunged deep into negative territory and Brent dropped below $20 per...

(Bloomberg) A brief rally in crude oil deflated Monday as investors ignored a broader market surge that pushed equities to an all-time high and focused instead on looming new supply from OPEC+. Futures in New York were little changed in...

(Arab News) Saudi Arabia state oil company Saudi Aramco has discovered four new oil and gas fields in different locations around the country, the Kingdom’s energy minister said on Sunday, according to a Saudi Press Agency report. The fields were...

(Reuters) - Oil prices edged higher on Monday after U.S. President Donald Trump signed a $2.3 trillion coronavirus aid and spending package, although lingering worries about near-term demand weighed on the market. Brent crude futures added 12 cents, or 0.2%,...

December 2019 saw the introduction of oil production in Guyana resulting in the goods trade balance moving from a deficit of US$627 million or 12.1% of GDP in the first half of 2019 to a surplus of US$143 million...

Guyana has earned over US$180 million from oil exports this year. The country lifted its fourth and final cargo for 2020 earlier this month from the Liza Destiny FPSO representing its share of oil being produced by ExxonMobil at...

The FPSO (Floating Production Storage and Offloading) system is used extensively by oil companies for the purpose of storing oil from the oil rigs in the middle of the ocean and in the high seas. It is one of...