News

United States Secretary of State Michael Pompeo said on Tuesday the US stands ready to work with the Guyana Elections Commission (GECOM) and observer groups on a full recount of the votes cast in the March 2 elections which...

ExxonMobil said Tuesday it is reducing its 2020 capital spending by 30 percent and lowering cash operating expenses by 15 percent in response to low commodity prices resulting from oversupply and demand weakness from the COVID-19 pandemic. Capital investments for...

If OPEC does not act, lack of storage will begin to force shut-in of crude oil production at some locations around the world since oil demand will be unlikely to recover substantially in the coming weeks, according to a...

Norwegian multinational oil, gas and renewable energy company Equinor and co-venturers Progress Resources USA Ltd and Repsol E&P USA Inc. have encountered oil in the Monument exploration well in the US Gulf of Mexico. Equinor said on Monday the Monument...

The spread of coronavirus, drop in commodity prices, tighter external funding conditions and falling domestic financial asset prices will weaken economic growth in Latin America substantially this year, Fitch Ratings says. This follows several years of persistently weak economic...

(Bloomberg) -- The few gasoline stations still open in Caracas are manned by armed soldiers, and those waiting to fill their vehicles in day-long lines are only security personnel and designated medical and food suppliers. Under coronavirus quarantine like most...

(Reuters) - Oil rose on Tuesday amid hope that the world’s biggest producers of crude will agree to cut output as the coronavirus pandemic crushes demand, even as analysts warn a global recession may be deeper than expected and...

(Market Watch) Oil futures ended lower on Monday, with the U.S. benchmark posting a loss of 8% after a key meeting of major crude producers, including Saudi Arabia and Russia, was tentatively shifted to Thursday, amid rising tensions between...

(CNBC) Russia and Saudi Arabia are “very, very close” to a deal on oil production cuts, according to the chief executive of Russia’s sovereign wealth fund RDIF. “I think the whole market understands that this deal is important, and it will bring lots of stability,...

Dutch engineering company Fugro said on Monday it is taking appropriate measures during the COVID-19 pandemic to keep its employees, partners and clients safe and healthy while ensuring service delivery. Current market conditions have forced the company to implement...