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The global economic activity will be more strongly affected by a pandemic with high infection rates rather than high virulence rates, all else being equal. At the regional level, regions with a higher degree of economic integration with the...

Organizers of the Offshore Technology Conference announced that the event has been postponed to the third quarter of 2020. The group is working to confirm new dates for the event in August or September. Event organizers said in a statement...

The volatile nature of the oil market is now becoming more evident than ever to new producer Guyana where production got underway just last December at ExxonMobil’s giant Liza field. Declining demand and prices mean producers around the world...

(Reuters) - Venezuela’s oil company PDVSA was last week offering discounts of up to $23 per barrel on its flagship crude, traders said, as a collapse in global oil prices puts more pressure on the state-run firm, already reeling...

Apache Corporation (NYSE, Nasdaq: APA) said on Thursday that multiple actions are being taken in response to the current oil price environment. The company reduced its 2020 capital investment plan to a range of $1.0 billion to $1.2 billion from a previous range of $1.6...

President and CEO of oilfield services company TOTALTEC, Lars Mangal, says if Guyana is to truly benefit from what he calls the closing window of opportunity due to the rise of renewable energy, oil production must be ramped up...

UK-based Tullow Oil has confirmed that it will drill the Goliathberg-Voltzberg North prospect at Suriname’s Block 47 this year. The prospect lies approximately 260 kilometres off the coast of the country in 1,900 metres of water and is one of...

(Reuters) - Mexico's peso was set for its worst day in 3-1/2 years on Monday and Colombia's peso slumped to a record low as the currencies of major crude oil exporters were hammered after oil lost a third of its value. Oil...

ExxonMobil’s 4th proposed development project offshore the South American country of Guyana will produce approximately 150,000 - 190,000 barrels of oil per day (bpd), pushing total production at the Stabroek block to 750,000 bpd. This latest development, once approved,...

The total capital and operational expenditure of exploration and production companies (E&Ps) is now likely to be cut by $100 billion in 2020 and another $150 billion in 2021 if oil prices remain at a $30 level, a Rystad...