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ExxonMobil limiting oil production after encountering additional challenges with gas compressor

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Additional challenges with the gas handling system on the Liza Destiny FPSO has resulted in ExxonMobil taking a decision to limit oil...

Venezuela’s oil exports stagnant in July at below 400,000 bpd –...

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(Reuters) - Venezuela exported about 388,100 barrels per day of crude and fuel in July, almost unchanged versus the previous month, as U.S. sanctions...

Oil and gas project sanctioning set for staggering decline in 2020

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Global project sanctioning is set for a staggering decline this year of over 75% from 2019 levels, as the COVID-19 pandemic has caused E&P...

Guyana being urged to use oil revenue in its push to...

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The South American county of Guyana is being urged to use its oil revenue to further green initiatives as the region and world continue...

Guyana begins to earn interest on oil revenue

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With close to US$100 million sitting in its Natural Resources Fund (NRF) account at the Federal Reserve Bank of New York, new oil producer...

What are oil futures?

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There are two major oil markets worldwide: Brent Crude, which is extracted from the North Sea and serves as the global benchmark, and West Texas Intermediate...

Noia writes Trudeau about ‘dire’ state of Newfoundland and Labrador offshore...

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(The Chronicle Herald) The association representing businesses involved in Newfoundland and Labrador’s offshore oil sector is adding written words to spoken ones as it...

Greenfield investments headed for lowest level since 1970s – Rystad Energy

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The outbreak of COVID-19 and the drop in oil prices has caused E&P companies to cut back on investments. This is especially the case...

Considerations for an oil and gas lifting agreement for Guyana

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In offering an exploration opportunity in a block, the motivation of the government largely is to encourage investment in the form of exploration activities,...

Plans to ramp up production to 340,000 bpd by 2022 on...

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The giant Liza Phase 2 Development Project offshore Guyana remains on course for production startup in 2022, the country’s Department of Energy (DE) has...