News

The South American country of Guyana has joined the league of petroleum producing nations with the official start of oil production at the Liza Phase 1 Development, announced on Friday December 20 by President David Granger, who proclaimed the...

The prolific Stabroek Block offshore Guyana and neighbouring Brazil’s Santos Basin will add millions of barrels of oil to global production by 2025, industry analyst Wood Mackenzie said in a recent report. The consultancy group said a challenging few years during...

A dark cloud of capacity constraints is casting a shadow over the oilfield service industry heading into 2020, mirroring the sharp growth in the number of new projects being brought forward by oil and gas operators. About 250 new...

(Reuters) - The captain of a Vietnamese oil tanker has been jailed for over five years in Singapore for his role in a scheme that saw around $150 million of oil stolen from Shell’s biggest refinery over several years. Doan...

Former Minister of Energy of Trinidad and Tobago Kevin Ramnarine believes that three recent discoveries of oil or natural gas in South Eastern Trinidad are a significant development and proves that land-based oil production can possibly be resuscitated in...

Canada’s federal government has approved a new offshore exploration drilling project proposed by the China National Offshore Oil Corporation (CNOOC) set to begin in the Flemish Pass Basin — about 400 kilometres east of Newfoundland and Labrador, CBC said...

ExxonMobil and the Government of Guyana are examining ways in which a financing facility could be established to provide much-needed capital to small and micro enterprise in the South American country. Speaking at a dinner hosted by the Guyana Manufacturing...

US oil major ExxonMobil’s record 14 discoveries in Guyana which amount to more than 6 billion barrels of oil resource has placed the small South American country at the top of the list for prospective offshore regions in the...

(Bloomberg) President Nicolas Maduro of Venezuela, dismissed as a goner after the U.S. put its weight behind his political rival and crippled his government with sanctions, is offering an unorthodox payback to Wall Street creditors as part of a...

(Reuters) - Oil prices remained atop three-month peaks on Thursday, extending a robust streak that began a week ago, as thawing trade relations between the United States and China supported global markets. Brent crude futures edged up 8 cents to...