News

Following discussions over the last 24-hours between the newly elected Presidents of Guyana and Suriname, the two leaders announced on Sunday their intent to strengthen bilateral relations between the two South American countries that will see strategic collaboration in...

The Guyana-Suriname basin has been the subject of much discussion since US oil major ExxonMobil made its world class Liza discovery in 2015 at the prolific Stabroek Block. Appraisal drilling showed Liza contained 800 million to 1.4 billion barrels...

(Reuters) - The world’s five largest oil companies collectively cut the value of their assets by nearly $50 billion in the second quarter, and slashed production rates as the coronavirus pandemic caused a drastic fall in fuel prices and...

(MercoPress) Brazilian oil exports more than doubled in July to 8.19 million tons, compared to 3.76 million tons shipped in July 2019, according to data released by the Foreign Trade Secretariat, Secex. The volume was the second highest in 2020,...

President of Guyana Dr Mohamed Irfaan Ali says his government will ensure transparency and accountability in the oil and gas sector, citing the phenomenal growth projections of the International Financial Institutions for the South American country this year. Dr. Ali...

Frontera Energy said on Thursday it is highly optimistic about newly detected drill prospects on the offshore block it shares with CGX Energy in Guyana and is eager to move ahead with drilling when analysis on a recently concluded...

Venezuelan state-run oil firm PDVSA has begun offering to ship its own oil, figuring in the costs in crude supply deals to help customers who have struggled to hire vessels to carry the country’s oil due to U.S. sanctions,...

Crude oil futures were marginally higher in mid-morning Asian trade Aug. 7 as optimism over a better-than-expected US jobs report and pledged compensation cuts by Iraq buoyed the market despite the growing COVID-19 case counts worldwide, S&P Global Platts...

(Reuters) - BP is preparing to sell a large chunk of its oil and gas assets even if crude prices bounce back from the COVID-19 crash because it wants to invest more in renewable energy, three sources familiar with...

US oil major ExxonMobil is projected to expend around US$50 billion in project sanctioning over the next 10 years for its offshore development activities in Guyana, according to Norway-based energy research and business intelligence company, Rystad Energy. Of the 16...