Energy & Oil

Monday, October 5th 2020 - 09:58 UTC
Guyana's big profits dreams crushed by the pandemic and the “resource curse”

By Amy Myers Jaffe (*) – This year was supposed to bring great things for Guyana. ExxonMobil discovered massive oil deposits off the South American country’s Caribbean coast in 2015, and Guyana sold its first cargo of crude oil this February. As production ramps up, its first stage offshore wells were projected to produce 750,000 barrels a day by 2025, tripling the size of Guyana's economy, from US$ 3,4 billion to US$ 13 Billion.
Thursday, October 1st 2020 - 09:01 UTC
Indigenous activists in Peru occupy infrastructure from state run oil company Petroperú

More than 100 indigenous activists in Peru´s Amazon occupied infrastructure belonging to the state-run Petroperú pipeline, the company said, demanding improved social benefits and health care in the face of the coronavirus pandemic.
Monday, September 28th 2020 - 09:05 UTC
OPEC is sixty, and feels old, exhausted and in need of more partners

OPEC faces a critical moment in its 60-year history with the coronavirus crushing crude demand and prices, discord among its members, and threats from a world seeking cleaner fuels.
Monday, September 28th 2020 - 08:30 UTC
Libya's Hariga port resumes loading export oil after an eight month blockade

An oil tanker is expected to load crude at Libya's Marsa el-Hariga terminal this week, the first since a blockade by eastern forces in January slashed the OPEC member's oil production to a trickle.
Tuesday, September 22nd 2020 - 08:50 UTC
US imposes more sanctions on Iran and Maduro, and demands Europe follows suit

The United States said on Monday it was imposing sanctions on Iran's defense ministry and Venezuelan President Nicolas Maduro under a contested UN authority and demanded that Europe follow suit.
Tuesday, September 22nd 2020 - 08:34 UTC
Petrobras faces unexpected challenges in its attempt to sell refineries

Brazilian oil company Petrobras said on Monday it will open another round of bidding for its Repar refinery in the state of Parana after receiving binding offers that were too similar in value.
Saturday, September 19th 2020 - 09:50 UTC
Argos Resources plans to request extension of North Falkland Basin license

Falkland Islands' based Argos Resources Ltd said on Friday its interim loss widened on foreign exchange movements, but it has enough cash to continue for another year as some costs have been delayed.
Friday, September 18th 2020 - 09:36 UTC
The attraction of oil: first ever US Secretary of State visit to Suriname and Guyana

Mike Pompeo on Thursday became the first US secretary of state to visit Guyana and Suriname as the discovery of oil fuels a sudden new interest in the small South American nations.
Thursday, September 17th 2020 - 08:57 UTC
US curbs steel imports from Brazil and Mexico, boosting protection for US steelmakers

President Donald Trump’s administration took new steps to curb steel imports from Brazil and Mexico, boosting protections for battered U.S. steelmakers and jobs in the election battleground states of Pennsylvania, Ohio, and Michigan.
Monday, September 14th 2020 - 11:34 UTC
“Relentless growth of oil demand is over”, anticipates BP in a report

British multinational oil and gas company BP said the relentless growth of oil demand is over, becoming the first super-major to call the end of an era many thought would last another decade or more. Oil consumption may never return to levels seen before the coronavirus crisis took hold, BP said in a report on Monday.