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Oil edges above $49 as vaccine spurs hopes of faster demand recovery

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(Reuters) - Oil rose above $49 a barrel on Thursday as hopes of a faster demand recovery after the release of COVID-19 vaccines offset a huge rise in U.S. crude inventories that showed supply remains ample. Britain began vaccinations this...
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O&G companies playing major role in Guyana oil spill preparedness efforts – CDC

OilNOW -
With Guyana lacking the capacity to adequately respond to large oil spills--that is, Tier Two and Tier Three spills--local companies have been playing an important role in oil spill response preparedness efforts. The National Oil Spill Contingency Plan indicates that...
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Exports set to jump to 1.24 mil b/d for Africa’s largest holder of crude reserves – Platts

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(S&P Global Platts) Libyan crude and condensate exports are poised to jump to a 13-month high of 1.24 million b/d this month, according to S&P Global Platts estimates compiled using data from shipping and trading sources. This comes as Libya's...
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Guyana deepwater carbon footprint smaller than heavy oil in Canada and across the world

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With approximately 9 billion barrels of oil equivalent and climbing, Guyana’s deepwater resources have a smaller carbon footprint than heavy oil being produced in Venezuela, Canada and across the world. Light crude is typically in the 35-45 American Petroleum Institute...
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Guyana, Suriname could use oil riches to underpin Caribbean energy security – Sir Ronald Sanders

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Even though Guyana and Suriname are expected to receive significant revenues in the coming years, Antigua and Barbuda’s Ambassador to the United States, Sir Ronald Sanders, is of the view that neither country has the absorptive capacity to utilize...
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Russia state oil company discovers new Arctic gas field

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(S&P Global) Russian state-owned oil and gas producer Rosneft said December 9 that it has discovered a large new gas field in the Arctic Kara Sea. Rosneft is playing a key role in Russia's Arctic strategy, which aims to capitalize...
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ExxonMobil has no plans to recover over $2.7 billion spent in Guyana on social programmes – Routledge

OilNOW -
The more than GY$2.7 billion invested by ExxonMobil in contributions and sponsorships of various organisations and activities across Guyana will not be recovered by the company, a top official said on Tuesday. More than GY$280 million was invested in contributions...
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Chevron’s CEO calls for “action over pledges” to deliver on low carbon goals

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(Bloomberg) --Fresh from overtaking Exxon Mobil as North America’s biggest oil company, Chevron Corp. has a “simple promise” to investors: higher returns and lower carbon. Delivering on that promise is critical: an activist investor announced a campaign on Monday targeting...
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ExxonMobil has moved over 6,000 people offshore without a single case of COVID-19 – Routledge

OilNOW -
ExxonMobil has been able to forge ahead with its exploration, development drilling and oil production operations offshore Guyana over the last several months without recording a single case of COVID-19, the head of the company’s activities in the South...
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Guyana and Suriname sign historic ‘Open Skies Agreement’ as economic surge set to boost travel

OilNOW -
New oil producer Guyana has signed a historic deal with neighbouring Suriname that will allow for easier travel between the two countries. The agreement was signed on Monday in the Savannah Suite of the Pegasus Hotel in Georgetown, Guyana’s Capital...
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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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