News

(Bloomberg) Brent crude topped $50 a barrel last week for the first time since March, a milestone for an oil market that’s been grinding its way back out of a deep slump for months. Things aren’t back to normal yet,...

Kosmos Energy said Friday it has closed the previously announced transaction with B.V. Dordtsche Petroleum Maatschappij, a wholly-owned subsidiary of Royal Dutch Shell PLC (LSE: RDSA), to farm down interests in Suriname, Sao Tome & Principe and Namibia for approximately $95 million, plus future contingent payments of...

A drill-stem test operation is set to get underway at the Redtail-1 well site located 103 nautical miles off the coast of Guyana at the Stabroek block. Redtail-1 is ExxonMobil’s 18 discovery on the block, announced in September. The well...

Covering an area 1.2 million acres (4,749 square kilometers), Block 52 is located approximately 75 miles offshore north of Suriname’s capital city, Paramaribo, and represents the first discovery ever made by U.S. oil major ExxonMobil, offshore the South American...

Oil and gas demand growth is expected to be exceptional next year as the coronavirus vaccine takes hold and OPEC+ looks to constrain supply. In fact, U.K. based consultancy group Wood Mackenzie believes that by the end of 2021,...

(S&P Global Platts) Brazil's National Energy Policy Council, or CNPE, dealt a sharp blow to the country's offshore exploration and production program by removing 32 high potential but environmentally sensitive offshore blocks from the upcoming 17th bid round during...

(Reuters) -Venezuela’s Oil Minister Tareck El Aissami said on Friday that authorities had disrupted a plan to attack the country’s 146,000-barrel-per-day (bpd) El Palito refinery and had arrested two suspects in the plot. El Aissami alleged, without providing evidence, that...

Warnings about a looming oil and gas supply gap continue to increase with a new report pointing out that the oil and gas industry will have to overcome its pandemic-induced retrenchment and boost investment by at least 25% annually...

European Union Ambassador to Guyana Mr. Fernando Ponz Canto has joined the call for the South American country to diversify the economy and ensure that it does not become reliant on just the oil and gas sector. He made these...

While the plans of the People’s Progressive Party/Civic (PPP/C) administration to pursue regulatory reform for the oil sector while simultaneously improving the energy grid is indeed commendable, U.S. Ambassador to Guyana, Sarah-Ann Lynch, is of the view that diversification...