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BP halves dividend after record loss, speeds up reinvention

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(Reuters) – BP cut its dividend for the first time in a decade after a record $6.7 billion second quarter loss when the coronavirus crisis hammered fuel demand and it sought to win over investors by speeding up its...
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Venezuela’s oil exports stagnant in July at below 400,000 bpd – data

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(Reuters) - Venezuela exported about 388,100 barrels per day of crude and fuel in July, almost unchanged versus the previous month, as U.S. sanctions on PDVSA continued limiting sales, according to Refinitiv Eikon and internal data from the state-run...
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Oil edges lower on oversupply concerns as OPEC+ set to raise output

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(Reuters) - Oil prices fell on Monday on concerns about oversupply as OPEC and its allies, together known as OPEC+, are due to pull back from production cuts in August while an increase in COVID-19 cases worldwide raised fears...
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Results from Redtail-1 drill campaign expected this month – Neil Chapman

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Results from the Redtail-1 prospect located some 103 nautical miles off the coast of Guyana at the Stabroek block is expected this month, according to ExxonMobil Senior Vice President, Neil Chapman. The drillship Noble Don Taylor moved to the Redtail-1...
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Guyana’s economic take-off tied to development of multi-billion-barrel oil resources

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Guyana’s positive economic outlook even in face of the coronavirus pandemic is based on the development of several billion barrels of discovered oil resources and the impact this is expected to have on the economy. Should these resources remain...
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UPDATED: Irfaan Ali sworn in as Guyana’s 9th Executive President

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Guyana's General and Regional Elections held on March 2, 2020 finally concluded on Sunday with the Guyana Elections Commission (GECOM) declaring the opposition People’s Progressive Party Civic (PPP/C) as having received the majority of votes and its candidate Dr....
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Second royalty payment pushes Guyana’s oil revenue above US$98 million

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Guyana’s second royalty payment from oil produced and sold in Q2 2020 now pushes the total revenue the country has received since oil production began last December to more than US$98 million. Finance Minister, Winston Jordan, has confirmed that the...
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Magazine celebrating achievements of women to be launched soon in Guyana

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Guyana’s first Women’s Chamber has partnered with Creative Marketing Company (CMC) to produce its first edition of ‘Women in Focus’, a publication aimed at inspiring women and promoting their achievements. The Women’s Chamber of Commerce and Industry Guyana (WCCIG) was...
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U.S. defense firm joins creditors seeking to enforce Venezuela judgments

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(Reuters) - U.S. defense contractor Huntington Ingalls Industries Inc has joined a long line of creditors seeking to enforce a judgment against heavily indebted OPEC member Venezuela, court documents filed on Friday showed. Huntington Ingalls’ shipbuilding unit earlier this year...
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OPEC July oil output surges as Gulf voluntary cuts end: survey

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(Reuters) - OPEC oil output has risen by over 1 million barrels per day (bpd) in July as Saudi Arabia and other Gulf members ended their voluntary extra supply curbs on top of an OPEC-led deal, and other members...
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Staatsolie approves commercial field for Sloanea-1 gas discovery in Suriname’s Block 52

Staatsolie Maatschappij Suriname N.V. has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname....

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