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Following the publication of the upstream industry’s first quarter results, a Rystad Energy analysis reveals a gloomier investment-budget picture than previously thought. Global spending is now forecasted to reach $383 billion this year, the lowest level in 15 years...

Optimism over a swift and steady economic rebound from crushing pandemic lockdowns have helped global oil prices stage a dizzying rebound from near two-decade lows in April, S&P Global said in a report on Thursday. Nearly all the oil demand...

More than US$35 million has been deposited into Guyana’s Natural Resource Fund (NRF) account representing payment for its second one-million-barrel oil cargo lifted in May. This brings the total revenue collected so far from profit oil and royalty to...

The 120,000 barrels per day Liza Destiny FPSO producing oil at the Stabroek Block offshore Guyana was designed to ensure there is no routine flaring in the daily operations of the vessel. Operating processes during production operations include safely flowing...

By Economist - Bobby Gossai, Jr. The National Recount exercise following the March 2, 2020, General and Regional Elections took thirty-three days and the preliminary tabulations from the Guyana Elections Commission (GECOM) have shown that the People’s Progressive Party –...

Following a slowdown in drill operations offshore Guyana due to COVID-19 related measures, ExxonMobil is now back to full drill capacity at the 6.6 million acres Stabroek Block where it has so far discovered more than 8 billion barrels...

A change in government in South America’s newest oil producing nation Guyana is not expected to have an adverse effect on the country’s emerging oil and gas sector since both of the major political parties are seen as pro-investment,...

(Reuters) - Oil tankers that were sailing toward Venezuela have turned around and others have left the country’s waters as the United States considers blacklisting dozens of ships for transporting Venezuelan oil, according to shipping data and industry sources. The...

(Bloomberg) - The Trump administration is preparing sanctions on as many as 50 oil and fuel tankers as part of an effort to cut off trade between Iran and Venezuela, according to a person familiar with the matter. The sanctions...

The forced oil production shutdowns and the extension of the generous OPEC+ voluntary cuts into July will not only balance the Covid-19-hit global crude and condensate demand, but are deep enough to create a monthly deficit starting from June...