Concerns are growing that an oil tanker carrying millions of gallons of oil could spill its load into the sea between Venezuela and Trinidad and Tobago, causing an ecological catastrophe.
Argentina wants energy firms to invest some US$ 5 billion to boost hydrocarbon production and generate jobs in the country's prized Vaca Muerta shale play, as well as to bring in much-needed foreign currency.
Brazilian police expanded the Car Wash corruption investigation to alleged kickbacks valued at US$ 8 million on contracts for bunker fuel bought by state-run oil company Petrobras for its fleet of tankers.
The Falkland Islands Government has taken notice of the recent press release concerning the proposed merger of Premier Oil plc and Chrysaor Holdings Ltd.
Shares in Premier Oil, with interests in the Falkland Islands, soared more than 14% on Tuesday, after the oil explorer agreed with a reverse takeover that will create the largest London-listed independent oil-and-gas group, producing more than 250,000 barrels of oil a day.
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.
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.
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.
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.
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.