News

(Reuters) - Venezuela’s state-run Petroleos de Venezuela has boosted crude blending and upgrading to their highest levels in six months, according to company documents seen by Reuters on Wednesday, as exports rise despite strict U.S. sanctions. The upgraders are...

As exploration and production activities ramp-up offshore the South American country of Guyana, US oil major ExxonMobil plans to reduce staffing levels across a number of its European affiliates as part of an extensive global review outlined during the...

Noble Corporation announced Thursday that the ultra-deepwater drillship Noble Tom Madden has been awarded approximately 6.5 years of additional contract term under the Commercial Enabling Agreement (CEA) with ExxonMobil for work offshore Guyana.  The Noble Tom Madden was previously contracted until Mid-February 2024 and the additional...

Prime Minister of the South American country of Guyana Brigadier (ret’d) Mark Phillips says the Government is targeting a 50 percent reduction in the cost of energy in five years as it remains committed to providing stable and reliable...

Lawyers representing Guyana’s former Minister of Natural Resources and the Environment, Robert Persaud, have issued a letter to former Presidential Advisor on Petroleum, Dr. Jan Mangal, requesting that he immediately retracts ‘false and defamatory’ statements on the award of...

Wells that once tapped the world’s largest crude reserves are abandoned or left to flare toxic gases that cast an orange glow over depressed oil towns in Venezuela, the New York Times said in a recent report. Refineries that once...

Improving the ease of doing business in the new oil producing country of Guyana is on the radar of the new government as it looks to expand investments in oil and gas as well as other sectors of the...

(S&P Global) Brazil's Supreme Court maintained 2018 regulations that allowed state-led oil company Petrobras to sell exploration and production assets, in a majority decision handed down Oct. 2. This decision gave the company its second consecutive court victory in support...

The world’s largest owner of deep-water oil rigs, Transocean, could soon be forced to file for bankruptcy after measures it took to stave off this very possibility, seem to be backfiring.   While on contract with ExxonMobil, Transocean drill ship,...

(Bloomberg) --Premier Oil Plc will be acquired by Chrysaor Holdings Ltd. in a reverse takeover, creating the largest listed independent oil and gas producer in the UK North Sea. The deal marks the end of the road for one of...