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Oil tankers carrying enough crude to satisfy 20 per cent of the world’s daily consumption are gathered off California’s coast with nowhere to go as fuel demand collapses, Bloomberg said in a report on Tuesday. Almost three dozen ships —...

The revenue from Guyana’s first oil cargo of 1 million barrels of Liza crude has been deposited into the Natural Resource Fund account held by the Bank of Guyana at the Federal Reserve Bank of New York. The Ministry of...

The International Court of Justice (ICJ) announced on Thursday that it is continuing to perform its functions despite the containment measures put in place around the world to halt the spread of COVID-19. The ICJ said through the use of...

As the global population puts the breaks on ground transportation thanks to lockdowns, road fuels – which make up about half of the world’s oil demand – has become the segment most impacted by the COVID-19 pandemic. Among road...

Tullow Oil announced on Thursday that Total has agreed to buy its entire stake in their joint onshore oil fields in Uganda for $575 million as part of its target to raise $1 billion this year to tackle its...

The Covid-19 pandemic has ravaged global oil demand and, coupled with the extremely low price levels brought on by the wide supply surplus, is likely to cause the largest monthly drop in fracking activity ever recorded in the US,...

Royal Dutch Shell has postponed decisions on whether to go ahead with two large oil and gas developments in the Gulf of Mexico and North Sea after oil prices collapsed due to the coronavirus crisis, a company source told...

US President Donald Trump said Wednesday that he has ordered the Navy to “shoot down and destroy” any Iranian gunboats that harass U.S. ships, a directive that comes a week after the Navy reported a group of Iranian boats made...

(MarketWatch) The Trump administration on Tuesday ordered Chevron Corp. to “wind down” operations in Venezuela by Dec. 1, barring the California-based oil giant in the meantime from drilling or exporting, as the U.S. increases pressure on President Nicolás Maduro...

As the coronavirus pandemic continues to crush oil demand globally, the oversupply of crude is placing a growing strain on storage capacity. In the US this resulted in the May contract for U.S. West Texas Intermediate (WTI) futures tumbling into negative territory...