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(Reuters) China's state-controlled oil company CNOOC Ltd is scheduled to load in the coming days its first cargo of crude from Guyana's offshore Liza oil project, the South American country's Director of Energy Mark Bynoe said. CNOOC has a 25%...

Guyana ended 2019 on the high note of a new oil producer and with the 16th discovery announced at the Stabroek Block off the country’s coast in January, hope for the future has been at an all time high....

The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd is what OPEC+ countries are realistically able to add next month based...

CNOOC Limited said on Monday that it has made a large-sized discovery Kenli 6-1 in Bohai Bay, which is expected to be the first large-sized oil filed in Laibei lower uplift. The Kenli 6-1 structure is located in Laibei lower...

A high-level team from regional body CARICOM which arrived in Guyana over the weekend to supervise a full recount of votes has withdrawn after a person associated with the incumbent APNU+AFC coalition party secured an injunction from the court...

Around 20% of Europe’s mid- and small-sized oilfield service companies, the vast majority of which are British or Norwegian, are set to become insolvent as the effect of the Covid-19 epidemic will hit the continent’s OFS market hard and...

TechnipFMC reported Sunday that it has put its planned separation into two companies on hold. According to a report from Rigzone, TechnipFMC noted the COVID-19 pandemic, plummeting commodity prices and greater equity market volatility have created market conditions that...

Hess Corporation announced Tuesday a revised $2.2 billion capital and exploratory budget for 2020, an $800 million reduction from the previous budget of $3.0 billion. The company also announced a new $1.0 billion three-year term loan agreement. These actions further strengthen the company’s cash position and financial...

US oil major ExxonMobil is looking to significantly reduce spending as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases, the company said Monday. “Based on this unprecedented environment, we are evaluating all appropriate steps to...

Extraordinary conditions can lead to startling outcomes. IHS Markit says that is where the oil market now finds itself—in a truly extraordinary situation in what has been a transformative week for the global industry. There has been a dizzying...