India’s largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry, Bloomberg said in a report on Thursday.
Reliance Industries Ltd, which runs the biggest refinery in the world in Jamnagar...
(Reuters) - After U.S. crude futures took an historic plunge into negative territory in April, the two top oil price reporting agencies said on Thursday they will start new benchmarks reflecting the price of Gulf Coast-traded crude on tankers,...
A Rystad Energy assessment of the temporary tax relief package for the petroleum industry that Norway recently approved reveals that the move will improve exploration and production companies’ short-term liquidity and reduce breakeven prices for future development projects by...
Since Guyana was told back in 2017 that setting up an oil refinery was too risky and will not be economically viable, the industry has been hit with severe challenges, some unforeseen, making such a prospect even less feasible...
(Reuters) - Tankers carrying nearly two months’ worth of Venezuelan oil output are stuck at sea as global refiners shun the nation’s crude to avoid falling foul of U.S. sanctions, according to industry sources, PDVSA documents and shipping data.
Washington...
By Wazim Mowla | First published in Global Americans on June 11, 2020
It’s been more than three months since Guyana’s national and regional elections and the country is close to having a winner formally declared—after a transparent and credible...
The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms, Reuters said in a report...
The Covid-19 pandemic has landed a lasting blow to both oil and gas markets. Global oil production has absorbed the lion’s share of the impact, but natural gas output, which was previously set to grow, is also set to...
(Reuters) - Oil prices fell on Wednesday, reversing the previous session’s surge as worries about a second wave of the coronavirus pandemic outweighed support from a gradual reopening of global economies.
Brent crude, which on Tuesday rose to its highest...
Suriname's president Desi Bouterse has conceded defeat in the emerging oil producer's 25 May parliamentary elections, two days after the country's electoral council declared the official results, Argus Media said in a report on Monday.
This clears the way for...
