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Brazil investing $68 billion over next 5 years in major oil production ramp up

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(S&P Global Platts) Petrobras will boost investment spending over the next five years amid a recovery in global demand, with development of the massive Buzios Field in the country's subsalt frontier expected to push crude oil output to 2.6...
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Oil slides below $80 as new COVID-19 variant spooks investors

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(Reuters) - Oil prices recorded their steepest daily fall since July on Friday as a new COVID-19 variant spooked investors and added to concerns that a supply surplus could swell in the first quarter. Oil fell with global equities markets...
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Addition of 220,000 bpd next year puts Guyana on OPEC’s radar for global oil supply growth

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The latest monthly report of the Organization of Petroleum Exporting Countries (OPEC) states that Russia and the USA are expected to be the main drivers of next year’s oil supply growth, contributing increments of 1.0 mb/d and 0.9 mb/d,...
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Government partners with UK company to offer scholarships to Guyanese for oil and gas

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The Government of Guyana announced on Wednesday that it has partnered with United Kingdom-based 3T EnerMech to offer scholarships to Guyanese for technical careers in the oil and gas industry. The training is being done under the Guyana Online Academy...
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Twenty-five more Guyanese hired by country’s largest shore base facility

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The Guyana Shore Base Inc. (GYSBI) recently increased its local workforce by 25 following three cross-country events held in October targeting new recruits. Providing a progress update on its career fairs, the company said that the 25 locals were hired...
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Norway group says Yellowtail subsea contract among biggest this century

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Subsea giant TechnipFMC landed a major subsea equipment deal this month for ExxonMobil’s next phase of the Stabroek development offshore Guyana. According to Norway-based energy research and business intelligence company, Rystad Energy, it is among the top 10 contracts...
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Sanctioning activity remains high in Guyana, major contracts coming – Rystad Energy

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After the pandemic decimated the oil and gas industry in 2020, this year is being seen as one of rebound with oil prices rallying and investments picking up across various projects globally, chief among them being South America’s hottest...
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EU says Venezuela’s recent elections an improvement over past votes, but problems persist

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(Al Jazeera) Venezuela’s recent regional and local elections were held under better conditions than previous contests, the head of a European Union observation mission has said, despite a series of irregularities. Isabel Santos told reporters on Tuesday that EU observers noted a...
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Global oil reserves release is ‘a drop in the ocean’, says Goldman Sachs

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(Reuters) - A coordinated release from government oil reserves led by the United States may add about 70 million to 80 million barrels of crude supply, smaller than the more-than-100 million barrels the market has been pricing in, analysts...
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Deepwater drillers positioning for big opportunities in prolific Guyana-Suriname basin

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The Guyana-Suriname Basin is currently a big operating arena for deepwater players Maersk Drilling and Noble Corporation, and according to S&P Global Platts, the companies are looking to expand this position as they merge to create a world class...
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TT Energy Chamber flags long-term decline despite short-term gains in oil production

The Energy Chamber of Trinidad and Tobago is urging serious reform in the country's energy sector following the release...

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