(Bloomberg) --Big Oil emerged from first-quarter earnings battered and bruised, but things are only going to get uglier.
Major oil and gas producers from Norway to the U.S. saw profit plunge in the opening three months of the year. Exxon...
The great oil glut of 2020 may have already peaked in the world’s biggest crude importer, Bloomberg said in a report on Monday.
Crude inventories in China have shrunk in recent weeks after rising to record levels, according to analysts...
(Platts) The US oil and gas rig count fell 34 to a total of 398 in the week ended May 6, as Permian basin drilling activity continued to decline, rig data provider Enervus said Thursday.
Oil rigs again led the...
Canadian-based CGX Energy Inc., operator at the Demerara and Corentyne Blocks offshore Guyana, has been left with no choice but to make adjustments to its 2020 drilling plans due to the effects of the COVID-19 pandemic.
In its latest financial...
Dril-Quip Inc. and TRINPET Guyana Inc. have entered into a License and Services Agreement that includes the construction of a state-of-the-art tubular fabrication, maintenance and storage facility in Georgetown, Guyana.
OilNOW understands the project is scheduled to commence this year with...
The swift oil price crash caused by the COVID-19 pandemic will reduce the combined free cash flow of FPSO fields, which have produced above three quarters of their original resources at just $2.20 per barrel this year. This is...
The effects of the COVID-19 pandemic on the oil industry should help Guyana, South America’s newest oil producer, to understand a most valuable lesson — avoid heavy dependence on oil alone and diversify the economy at all costs. This...
Since the discovery of large volumes of oil offshore Guyana, and now becoming a producer, the ability to balance this with the country’s low carbon agenda has long engaged the attention of environmentalists, some of whom believe the two...
(Bloomberg) -- Hess Corp. is chartering a trio of supertankers to hold more than half of its North Dakota crude production as rapidly filling storage forces some drillers to curtail output.
The U.S. oil explorer said it has enlisted three...
Apache Corporation and Total S.A have spudded their third well offshore the South American country of Suriname. The two companies each hold 50% interest in Block 58 where they have made 2 discoveries to date.
In the second half of...
