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(Bloomberg) --Venezuela’s fall from oil superpower to failing producer can be illustrated in one image: a single drilling rig working the world’s largest oil reserves. As fields across the nation shut amid a relentless U.S. campaign to cut Venezuela off...

BP’s plan to writedown up to $17.5 billion in its second-quarter earnings will have major implications in the near to long-term. So says Luke Parker, vice president, corporate analysis at consultancy group Wood Mackenzie. “In the near-term, the impact of...

(Reuters) - Oil demand is recovering from the greatest fall in its history in 2020, the International Energy Agency (IEA) said on Tuesday, but a drop in flying due to the coronavirus means the world will not return to...

Oil majors and National Oil Companies have been left with no choice but to re-assess exploration spend in 2020 as the price of oil plummeted forcing shut-ins and lay-offs across the industry where conventional exploration spend had been set...

Oil is the world’s primary source of energy. The need to minimize the environmental impact of extracting this crucial resource has long engaged the attention of nations around the world. Many countries, including Guyana, have signed onto the Paris...

(Reuters) - Brazil’s Petroleo Brasileiro SA has told shippers it will not hire any tankers that have visited Venezuela in the past 12 months, the state-controlled oil company said on Friday, signaling adherence to U.S. sanctions on the Latin...

(Reuters) – BP will take a writedown of up to $17.5 billion in its second-quarter earnings after sharply lowering its long-term oil and gas price outlook as it now expects a faster transition away from fossil fuels. The earnings are...

The Iwokrama International Centre (IIC) said in a press release on Friday it has received an additional GY$50 million from ExxonMobil Guyana toward the implementation of a five-year science strategy that will also fund key investments to help protect...

Production forecasts are a workmanlike description of the forecasting and reporting activities which must be performed by the operator under the lifting agreement. The lifters will require adequate notice of the expected quantity and timing of their entitlements; typically,...

(Reuters) - A federal judge in Texas set aside a $1.4 billion default judgment against a former Venezuelan oil minister, ruling he was not properly notified of the lawsuit, but said the U.S. company that alleged fraud and bribery...