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With close to US$100 million sitting in its Natural Resources Fund (NRF) account at the Federal Reserve Bank of New York, new oil producer Guyana has already began earning interest on some of that revenue even as the global...

South America’s newest oil producer, Guyana, is one step closer to hiring a firm to market its share of Liza Crude. The Department of Energy (DE) had issued an invitation for Expression of Interest in February 2020 which saw 34...

Total and its partners have announced the start-up of the Floating Production Storage and Offloading (FPSO) P-70 of the Iara cluster (Block BM-S-11A), located in the deepwater Santos Basin pre-salt offshore Brazil. With a productive capacity of 150,000 barrels...

India’s largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry, Bloomberg said in a report on Thursday. Reliance Industries Ltd, which runs the biggest refinery in the world in Jamnagar...

(Reuters) - After U.S. crude futures took an historic plunge into negative territory in April, the two top oil price reporting agencies said on Thursday they will start new benchmarks reflecting the price of Gulf Coast-traded crude on tankers,...

A Rystad Energy assessment of the temporary tax relief package for the petroleum industry that Norway recently approved reveals that the move will improve exploration and production companies’ short-term liquidity and reduce breakeven prices for future development projects by...

Since Guyana was told back in 2017 that setting up an oil refinery was too risky and will not be economically viable, the industry has been hit with severe challenges, some unforeseen, making such a prospect even less feasible...

The coronavirus has now spread to 190 countries with more than 9 million confirmed cases and more than 470,000 deaths. The highest official case counts are in the US, Brazil, Russia, India, UK, Peru, Chile, Spain, Italy, and Iran....

(Reuters) - Tankers carrying nearly two months’ worth of Venezuelan oil output are stuck at sea as global refiners shun the nation’s crude to avoid falling foul of U.S. sanctions, according to industry sources, PDVSA documents and shipping data. Washington...

By Wazim Mowla | First published in Global Americans on June 11, 2020 It’s been more than three months since Guyana’s national and regional elections and the country is close to having a winner formally declared—after a transparent and credible...