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Guyana sets new global standard with rapid oil and gas legislation – Nandlall

OilNOW -
In just a few years, Guyana has achieved what many other nations have taken decades to accomplish in the oil and gas sector, said Attorney General Anil Nandlall.  “I don't want to be accused of blowing our own trumpet, but...
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Petrobras, Shearwater sign MOU for seismic innovation

OilNOW -
Petrobras has signed a Memorandum of Understanding (MOU) with Norwegian company Shearwater to advance scientific research and technological innovation in seismic processing and acquisition.  The agreement aims to enhance data quality and acquisition efficiency, essential for mapping oil fields. The...
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Exxon and CO-Vs can never profit more than Guyana – Jagdeo

OilNOW -
Guyana Vice President Bharrat Jagdeo said ExxonMobil and its Stabroek Block partners can never profit more than Guyana from their petroleum operations. “They can never earn more profit than we would earn,” he said during a June 14 press conference. Jagdeo...
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Guyana’s oil boom creates new opportunities for culinary professionals

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Traditionally dominated by engineers and technical specialists, the oil and gas sector is now tapping into the talents of culinary professionals trained at the Carnegie School of Home Economics.  Since Guyana's first oil discovery in 2015, the industry's growth has...
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Eni sells 10% stake in Saipem for €393 Million

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Italian oil and gas company Eni has divested a 10% stake in oilfield services provider Saipem for €393 million (US$422.48 million). The sale was conducted via an accelerated bookbuilding process on June 11, 2024, with the transaction set to...
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Stronger penalties for ‘fronting’, Jagdeo warns 

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Vice President Bharrat Jagdeo has warned that the Guyanese government will be implementing stronger penalties for companies engaging in ‘fronting’ to circumvent the Local Content Act (LCA), which will be amended soon. ‘Fronting’ or ‘rent-a-citizen’ is a phenomenon that has...
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TGS and PGS receive final approval for merger

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Norwegian seismic firms TGS and PGS have secured final regulatory approval for their merger, forming a premier energy data company.  The UK Competition and Markets Authority (CMA) granted the last needed approval, following the Norwegian authority's clearance in April 2024. "TGS...
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US may consider final approval of US$646M gas project loan to Guyana in July

Kemol King -
The Export-Import Bank of the United States (EXIM) may consider final approval of a loan to Guyana, valued at approximately US$646 million. The loan is meant to support the Gas-to-Energy project, a landmark venture the Guyana government hopes will...
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Guyana to implement ‘regime of penalties and sanctions’ for gold smuggling, following U.S. expose

OilNOW -
Guyana's Vice President Bharrat Jagdeo says a range of tougher penalties and sanctions will be introduced for persons caught smuggling large quantities of gold. This follows an expose by the United States, of gold smuggling, tax evasion and corruption...
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Saipem, CNOOC to host meetings with Guyana suppliers

OilNOW -
Saipem and CNOOC are set to hold separate meetings with Guyanese businesses in June.  Saipem’s meeting is an information session for businesses to understand their contractual obligations. It is scheduled for June 20, at 10:00 am. Registration is active, with...
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Battery system arrives in Guyana for delayed Gas-to-Energy project

LNDCH4, the U.S. joint venture building an integrated natural gas processing facility at Wales, announced on Friday the arrival...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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