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Guyana COVID-19 Situational Report

COVID-19 has now spread to 189 countries/regions around the world with over 5 million confirmed cases and more than 350,000 deaths. The oil & gas...

Huge glut of oil sitting on tankers shows signs of shrinking

(Bloomberg) One of the oil market’s most obvious signs of oversupply -- millions of barrels being stored on tankers all over the world --...

Petrochemical products at forefront of COVID-19 fight – Chevron CEO

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...

CAPEX cuts hit US$120 billion across 170 companies – Guyana offshore...

COVID-19 lockdown measures have brought a sharp drop in global oil and gas demand, with the International Energy Agency estimating that global oil demand...

Guyana battling oil crisis, global pandemic and internal conflict

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....

How the pandemic wiped out oil demand around the world

(Bloomberg) Global oil demand is being destroyed as the coronavirus forces people around the world to remain indoors and avoid all unnecessary travel. Currently, between...

Guyana oil revenues could fall by 15% – 40% – IDB

In a report released this month on the impact of COVID-19 on the Caribbean region, the Inter-American Development Bank (IDB) said the pandemic coupled...

Elections stalemate, COVID-19 present risks for Guyana despite fast-growth – World...

While Guyana’s Gross Domestic Product (GDP) is projected to grow by 51.7 percent in 2020 and 8.7 percent in 2021, the still incomplete national...

Coronavirus pushes oil towards the abyss

The crude oil market is staring into an abyss. The challenges are physical – dealing with extreme oversupply – and financial, with market participants...

Half the world under ‘stay at home’ orders as COVID-19 cases...

(S&P Global) At the conclusion of a difficult week, the world surpassed 1 million confirmed cases of coronavirus and the total global death toll...