News

(Reuters) A Myanmar-born U.S. perfume entrepreneur became a curiosity last year when she became the nation’s top buyer of oil-and-gas leases at the Trump administration’s federal auctions, despite having no apparent energy background. Since July, Levi Sap Nei Thang has...

With US and Canadian oil production growth tapering off, Brazil is poised to be one of the key sources of expansion over the medium term, while all eyes are on newcomer Guyana where output is on course to skyrocket...

Midsize tankers loading in the Americas could see freight rates taper down in the second quarter, as weather-related port logistic disruptions will decrease to a seasonal low and remove the main bullish factor from the otherwise pandemic-affected Aframax and...

Intense engagements with oil and gas companies in Guyana and other stakeholders in recent weeks have seen feedback on specific areas of enhance business development being received by the Ministry of Natural Resources. “The consultations are evolving with both stakeholders...

After losing 1.4 mb/d in three years, output in Venezuela may be bottoming out, the International Energy Agency (IEA) said in its newly released Oil 2021 report. US financial sanctions, poor reservoir management and chronic underinvestment cut production to...

(Reuters) - A tract of a gas pipeline in eastern Venezuela suffered an explosion on Saturday afternoon, according to a report from state oil company PDVSA seen by Reuters, an incident the country’s oil minister blamed on an attack. The...

(AP) — Saudi Arabia’s state-backed oil giant Aramco announced Sunday that its profits nearly halved in 2020 to $49 billion, a big drop that came as the coronavirus pandemic roiled global energy markets. Saudi Arabian Oil Co. released its annual...

By Jerry Haar and Deanne Butchey - OilNOW Many believe that oil is the magic bullet that will hit the bullseye of prosperity for Guyana, dramatically increasing revenue, growth and economic development (regardless of how and where that largesse is...

The vaccine distribution cycle was not expected to be perfect, but the recent spike in cases in Europe, which some are calling the third wave, is not being met with a brigade of vaccines, but with vaccine skepticism instead....

As of March 10, Guyana’s Natural Resources Fund (NRF), the country’s Sovereign Wealth Fund in which all oil revenues are being deposited, had a balance of US$267,668, 709.12. This amount represents every cent earned from oil lifts and royalties...