The International Energy Agency (IEA) says low oil prices impact the livelihood of millions of people employed along the oil industry’s extensive value chain. The IEA said too that low prices damage the economies of weaker producing countries where...

Italian multinational oilfield services company Saipem said on Thursday it can no longer offer guidance for 2020 due to unpredictable market conditions brought on by the coronavirus pandemic and plummeting oil prices. Saipem said it recorded a loss in...

Guyana's economic prospects remain bright in face of the COVID-19 pandemic and falling oil prices. The one potential pitfall continues to be the unresolved elections held on March 2 for which a winner still cannot be determined. Allegations of...

While the sale of crude from the Liza Field in Guyana and in neighbouring Trinidad and Tobago (T&T) has not shared the same fate as US oil, former Energy Minister of Trinidad and Tobago, Kevin Ramnarine, says the Caribbean...

(Reuters) - Guyana has attracted interest from several oil trading companies for a contract to serve as the marketing agent for the government’s share of the country’s crude, despite a plunge in global prices, four people familiar with the...

Offshore drilling contractor Transocean is reporting that it has received a contract termination for its drill ship Discoverer India which has been operating in Egypt. This is according to Transocean’s latest Quarterly Fleet Status Report dated April 16, 2020. The...

Guyana is listed among just a handful of countries in the world where oil production is expected to grow this year despite the decline in prices and challenging market conditions being fueled by the COVID-19 pandemic. Non-OPEC liquids production growth...

There have been 126 confirmed cases of the coronavirus among oil and gas workers in Brazil, including 74 people who were recently on offshore oil platforms, regulator ANP told Reuters on Tuesday, exposing an outbreak far worse than previously...

Italian multinational oilfield services company Saipem said on Wednesday the growing uncertainty caused by the COVID-19 pandemic might cause a sharp demand contraction and consequently a delay of some its projects. Saipem said its Board of Directors resolved to withdraw...

Approval for ExxonMobil’s 3rd development project at the Stabroek Block offshore Guyana remains stalled due to what the country’s Department of Energy (DE) has described as recent ‘national and international events’. The spread of the novel coronavirus and an election...