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OPEC+ throws caution to the wind with agreement to add over 2 million b/d to the market by July

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(S&P Global Platts) After months of preaching caution and saying the time was not right to raise oil production, OPEC and its partners abruptly agreed on April 1 to loosen their quotas and add more than 2 million b/d...
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Most of Exxon’s support operations that came from Trinidad now migrated to Guyana – Routledge

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ExxonMobil Guyana says it remains committed to a local content framework that supports the implementation of effective measures that would help to build a globally competitive workforce and supply base in the new oil producing South American country. The...
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Concern mounting about future of T&T’s gas industry as Proman idles plants

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Concern is mounting in Trinidad and Tobago about the future of the country’s gas industry following the inability of the National Gas Company (NGC) and Methanol Holdings (Trinidad) Limited/Proman to successfully conclude negotiations on a new gas supply contract. “Despite...
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Guyana among just a handful of countries from where bulk of remaining deepwater oil resources will come – Wood Mackenzie

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While there’s no arguing that the energy transition is upon us, one thing is for sure: oil and gas will play a significant role in meeting energy demand for decades to come. This is according to U.K. based consultancy...
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Guyana can join countries like Norway in producing high-protein biomass from gas resources

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While much of the attention has been on the benefits of low electricity rates with the gas-to-power project that is set to come on stream by 2024, an expert in the oil and gas industry says there are can...
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Guyana publishes 2nd transparency report for extractive industries

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Guyana has successfully produced and published its second Extractive Industries Transparency Initiative (EITI) Report on the extended deadline of March 31, 2021, narrowly averting suspension from the initiative had the deadline been missed. The report contains reconciliation information on the...
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Exxon expects better first-quarter earnings as oil prices climb

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(Reuters) - Exxon Mobil Corp expects rising first-quarter results across its three major businesses, with an at least $2 billion improvement from prices for oil and gas driving profits, the company signaled in a securities filing on Wednesday. The largest...
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Stena expanding regional presence as IceMAX arrives in Mexico

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Just weeks after the Stena DrillMAX sailed into Guyana waters to join the Stena Carron offshore the South American country, the IceMAX has arrived in Tampico, Mexico for an upcoming project with Repsol. Stena Drilling announced the arrival of the...
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U.S oil sanctions on Venezuela close to ‘tipping point’ as massive diesel shortage looms

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(S&P Global Platts) US oil sanctions on Venezuela could reach a tipping point this summer if a dire diesel shortage further exacerbates a humanitarian crisis that continues to unfold even as President Nicolás Maduro has strengthened his hold on...
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GCCI elects new council, President to be determined in a week

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The Georgetown Chamber of Commerce & Industry (GCCI) hosted its 131st Annual General Meeting (AGM) via the Zoom and Elections Runner digital platforms today. During the course of this exercise, the election of a new council was undertaken. “I would...
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Guyana’s first major oil & gas training college to welcome full cohort next month

The long-awaited Guyana Technical Training College Inc. (GTTCI) is set to welcome its first cohort of students to be...

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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