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Venezuela set to resume oil shipments to Europe as US relaxes sanctions

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With most of Europe facing an economic crisis following Russia’s invasion of Ukraine, the United States has stepped in to relax some of its sanctions on Venezuela so that oil shipments can be resumed to keep several states from...
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Guyana to lead Latin America, Caribbean with highest 2022 growth rate – World Bank Report

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While the war in Ukraine is having substantial effects on the Latin America and Caribbean Region via higher commodity prices and weaker global growth, Guyana on account of its oil industry is projected to lead the pack this year...
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IDB expands funding for capacity building efforts in Guyana as oil operations surge

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The accelerated pace of oil and gas operations in Guyana is demanding more from supporting institutions. The economic context is changing so quickly that the Inter-American Development Bank (IDB) has had cause to restructure and expand a multi-million-dollar loan...
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Guyana to the world: “we’ll do it our way”

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When it comes to the issue of climate change, the President of Guyana, Dr. Mohamed Irfaan Ali has reiterated that the nation will not be blamed or subjected to underdevelopment due to the inaction and planet degradation caused by...
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Guyana low-cost, high-quality oil resources remain vital to Hess portfolio

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The oil and gas resources discovered offshore Guyana since 2015 continue to play a key role in Hess Corporation’s portfolio and investor spending. The company has a 30% interest in the ExxonMobil-operated Stabroek Block offshore Guyana where nearly 11 billion...
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IMF gives Guyana thumbs up for restraint in spending oil revenues

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The International Monetary Fund (IMF) has not only lauded authorities in Guyana for the critical amendments it made to the Natural Resource Fund (NRF) law, but it has also praised the administration for not spending a cent until that...
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Guyana’s oil fund earns GY$21B from profit oil for May

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For May 2022, Guyana earned profit oil income from the Stabroek Block totaling GY$21,381,305,000 (approximately US$102,548,225.42). In the prior month, the country received royalties to the tune of GY$4,390,903,000 (approx. US$21,059,486.81). The following figures were extracted from the monthly Natural...
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Exxon wants to be go-to partner for NOCs – Woods

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Chief Executive Officer and Chairman of the Board at ExxonMobil Corporation, Darren Woods, said the company’s strategy is to make sure it is a central partner when national oil companies and other resource holders want someone to develop the...
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‘One Guyana’ hull in Indonesian waters, will head to Singapore soon – Hess

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President and Chief Operating Officer of Hess Corporation, Greg Hill, said the hull for the Yellowtail oil production vessel is complete, and sitting in Indonesian waters, waiting to travel to Singapore one the Prosperity, another Guyana-bound vessel, is complete. Prosperity...
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Guyana does not owe Exxon a cent; nonsense passing off as analysis – Vice President

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The contention that Guyana would not be able to reap the benefits of oil production without racking up millions of dollars in debt to Stabroek Block operator ExxonMobil is misleading, said the country’s Vice President, Dr. Bharrat Jagdeo. During a...
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Energy Chamber Head urges Guyanese youths to embrace long-term opportunities in oil sector 

President of the Guyana Oil and Gas Energy Chamber (GOGEC), Manniram Prashad, has called on Guyanese youth to embrace...

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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