News

(Reuters) - Brazil’s state-run Petrobras sees no need for cuts in oil production, executives say, as the market for its crude remains robust in China, while domestic demand for fuel picks up amid social distancing fatigue in Latin America’s...

(Bloomberg) One of the oil market’s most obvious signs of oversupply -- millions of barrels being stored on tankers all over the world -- is showing very tentative signs of shrinking. On Thursday, North Sea oil traders offered almost 8...

US oil major ExxonMobil will be focusing heavily on development drilling at the Stabroek Block offshore Guyana in the coming months. The company has been working to ensure the safety and health of its employees and the crews working offshore...

Westmount Energy Ltd has purchased 1,350,000 common shares in JHI Associates Inc through the issue of 15,930,000 new ordinary Westmount shares which will represent approximately 12.7% of Westmount's enlarged issued share capital. The transaction prices the New Ordinary Shares...

Chevron Chairman and CEO Mike Wirth has described the petroleum industry as “ubiquitous and essential” in the fight against the COVID-19 pandemic which has now spread to 189 countries/regions with over 4.3 million confirmed cases and more than 290,000...

Dutch floater specialist SBM Offshore, while currently dealing with the challenges brought on by the COVID-19 pandemic and low oil price environment, is looking ahead to large capacity offshore developments where its state-of-the-art Fast4Ward® programme will be playing a...

US-based energy and technology company Baker Hughes is looking for a firm in Guyana to assist in the supply of warehousing space for its operations in the South American country. The “locally qualified and registered company with local experience” would...

(Reuters) - The risk of a sharp pull-back in oil prices has decreased as the rebalancing of the crude market gathers pace, Goldman Sachs said, aided by a gradual lifting of coronavirus lockdowns and a faster-than-expected fall in output. The...

ExxonMobil Guyana has spent over US$35 million or approximately 7.1 billion Guyana dollars on more than 500 local suppliers in the first quarter of this year. The company said local suppliers remain important to the success of its operations...

If Guyana is to avoid the consequences that come with being heavily dependent on oil, then it must have a focused strategy for diversifying the economy says Trinidad and Tobago-based Energy and Strategy Advisor, Anthony Paul. During a recent interview...