News

Plans are gathering pace for a digital business event which will highlight opportunities to link businesses in the North East of Scotland with a newcomer on the list of oil producing countries. Building on the success of the first ever...

(Reuters) - Venezuela’s government has negotiated an agreement with Chinese banks for a grace period until the end of the year on some $19 billion in loans that are paid off with oil shipments, according to three sources in...

Even as the number of rigs drilling for oil and gas continues to collapse globally, activities offshore Guyana not only continues, but is being ramped up, particularly in the ExxonMobil-operated acreages, including Stabroek Block where the company has so...

Guyana and Suriname, with populations of approximately 780,000 and 575,000 respectively, are among the smallest countries on the South American continent, both in terms of area and inhabitants. But these two small nations have now become a big deal with...

(Bloomberg) --From Baghdad and Algiers to Caracas, many of the world’s oil capitals are experiencing a summer of discontent. It could be a glimpse of their future. Iraq has seen fatal protests as its electricity grid buckles amid searing heat,...

ExxonMobil Guyana said on Wednesday more than 2000 Guyanese are supporting its operations in the South American country, representing 55 percent of the total workforce. The company said its direct workforce grew to 155, more than 50 percent of which...

The oil market turmoil brought on by Covid-19 has led to lower-than-anticipated activity and delayed projects, forcing the industry to deploy cost-cutting measures. A Rystad Energy analysis of the top 50 oilfield service (OFS) firms show that staffing is...

(Reuters) - Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts expected, bolstering hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic. Brent crude...

Guyana can become one of the largest non-OPEC oil producers in a few years, with the potential to encroach on the markets of less competitive producers as the South American country continues to develop its industry. This is the view...

Government approval for Payara, ExxonMobil’s third development project offshore Guyana, remains on hold as the new administration seeks external assistance to further review the work that has been done so far in assessing the project. “Specifically to the Payara licence,...