News

Developing nations’ oil and gas income will fall by 50% to 85% this year to a more than two-decade low if current market conditions persist, the International Energy Agency and OPEC said in a rare joint statement on Monday,...

The International Court of Justice (ICJ), the principal judicial organ of the United Nations, has indicated that the oral proceedings scheduled to begin on March 23, 2020 concerning the Arbitral Award of October 3, 1899 (Guyana v. Venezuela) have...

Saudi Arabia kicked off an oil price war with Russia at a time when the world is dealing with the coronavirus outbreak decimating supply chains, inducing panic buying and grounding flights, as reported by Al Jazeera on March 15....

CEO of Hess Corporation John Hess said the fallout from the current oil price war between Russia and Saudi Arabia could lead to a worldwide economic recession and a reduction of US oil production in 2021. Hess was on March...

A team from regional body CARICOM is expected to arrive in Guyana on Sunday to supervise a full recount of votes in coming days. Following the March 2 election, the tabulation of votes by the Guyana Elections Commission (GECOM)...

(S&P Global) ExxonMobil on Thursday lowered its 2020 total oil and gas production estimate about 7% to 3.9 million boe/d, which includes slowing operations slightly in the Permian Basin, based on both lower oil prices. In the West Texas/New Mexico...

Organizers of the Offshore Technology Conference announced that the event has been postponed to the third quarter of 2020. The group is working to confirm new dates for the event in August or September. Event organizers said in a statement...

The volatile nature of the oil market is now becoming more evident than ever to new producer Guyana where production got underway just last December at ExxonMobil’s giant Liza field. Declining demand and prices mean producers around the world...

(Reuters) - Venezuela’s oil company PDVSA was last week offering discounts of up to $23 per barrel on its flagship crude, traders said, as a collapse in global oil prices puts more pressure on the state-run firm, already reeling...

Apache Corporation (NYSE, Nasdaq: APA) said on Thursday that multiple actions are being taken in response to the current oil price environment. The company reduced its 2020 capital investment plan to a range of $1.0 billion to $1.2 billion from a previous range of $1.6...