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Less than 15 percent of Guyana’s discovered resources have been sanctioned

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With over 8 billion barrels of oil equivalent discovered to date and just two approved developments, Guyana still has significant hydrocarbon resources yet to be produced. Analysts have said developing these resources early would be prudent, since delays run...
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Majors exiting 203 country positions but remain in play at key locations like Guyana

OilNOW -
The largest oil and gas companies in the world, including US oil major ExxonMobil, are revising their long-term oil price and demand outlook, and looking to streamline their portfolios to improve cash flow, cost efficiency...
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Near future multiple FPSO projects to have lasting impact on Guyana development – Tina Riley

OilNOW -
From Ranger in the North-West to Haimara in the South-East, the more than 8 billion barrels of oil equivalent resources found to date at the prolific Stabroek Block offshore Guyana will lead in the transformation of the South American...
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Guyana oil minister set to talk at Madrid Energy Conference this week

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Guyana’s Minister of Natural Resources, Vickram Bharrat, will be the key speaker on a panel discussion at the Madrid Energy Virtual Conference (MEC2020) set to take place this week. The panel discussion will focus on institutional strategy for regulation...
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Tankers lifting Liza Crude required to comply with Guyana’s pandemic measures

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New oil producer Guyana continues to take precautionary measures at offshore installations in response to the global pandemic which has seen tankers lifting the Liza crude being required to arrive well ahead of time for each lift, in keeping...
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Saipem Guyana operations supported by 80 percent local workforce – Managing Director

OilNOW -
Since starting operations in Guyana in May 2018, Italian multinational oilfield services company Saipem has established a country office with 80 percent of its workforce now being Guyanese. Saipem has been awarded contracts by ExxonMobil for the Engineering, Procuring, Construction...
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E&P companies took up combined debt of $72 billion in Q2 2020 – EIA analysis

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The United States Energy Information Administration (EIA) said its latest analysis has found that debt levels among Exploration and Production (E&P) companies spiked during the second quarter of 2020 illustrating the immediate impact of reduced oil demand and prices...
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Costly effects of pandemic make Paris Agreement 2050 targets unlikely – Wood Mackenzie

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In light of the fact that nearly US$20 trillion or 25% of global Gross Domestic Product (GDP), is earmarked for responding to the effects of the pandemic over the next 12-18 months and not climate change, it is highly...
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ExxonMobil empowering Guyanese women through global training programme

OilNOW -
Several Guyanese women who have participated in the Global Women in Management (GWIM) training programme, funded by the ExxonMobil Foundation, have taken the lessons learned back into their communities across the new oil producing South American country. ExxonMobil Guyana said...
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Guyana stands to gain despite notable shifts in global market – API’s Chief Economist

OilNOW -
Over the past few months, some of the world’s largest oil and gas companies have disclosed plans to make a considerable shift towards renewables, a path that has been resisted for years due to the sheer unattractiveness of the...
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Patrick Brunings nominated to lead new Oil and Gas Ministry

PARAMARIBO, SURINAME - Suriname’s incoming coalition government has nearly finalized its Cabinet ahead of the July 16 inauguration, with...

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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