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Upstream gas investments could be slashed by 65%

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A world on a 2-degree pathway could significantly reduce upstream gas investments by 65% through to 2040, says Wood Mackenzie. The company’s base case outlook projects some 200 billion barrels of oil equivalent (bnboe) of new gas resource developments...
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AmCham will press US firms to aid in transfer of skills, tech to Guyanese companies – Zulfikar Ally

OilNOW -
In order to bridge the gap between local and international companies operating in Guyana’s oil and gas sector, the American Chamber of Commerce (AmCham) Guyana is moving to ensure local companies are in compliance with international best practices. In...
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Fortune 500 companies looking to invest in Guyana, U.S Ambassador reports

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Guyana has been on the receiving end of unprecedented interest from foreign investors following the discovery of billions of barrels of hydrocarbon resources offshore and the country's entry as a new oil producing nation. This is now seeing a...
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Guyana FPSO contributes to 16% revenue increase for SBM Offshore

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Dutch floater specialist SBM Offshore is reporting a 16 percent increase in revenues for Q3 2020 when compared to the same period last year and this is being attributed in part to higher Lease and Operate earnings from the...
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ExxonMobil’s lone diving contractor in Guyana inks deal for provision of subsea services

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Aqueos Corporation and AGT Energy Group Inc., on Wednesday, inked a Memorandum of Understanding (MoU) to provide subsea and other marine services to Guyana’s growing oil and gas sector. Aqueos said in a press release it currently has a five-year...
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Upcoming oil summit focusing big on local content, women’s involvement in the sector

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The Guyana Oil and Gas Virtual Summit, which is slated for December 1-3, 2020 will be placing keen focus on local content and increasing the participation of women in Guyana’s oil and gas sector. Organised by CWC/Global Future Energy Limited...
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Guyana government plans to invite EOIs for mega deepwater harbour

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The Government of Guyana is pursuing the development of a deepwater harbour in the Berbice area to accommodate large vessels and provide the infrastructure needed to support oil and gas operations and the growing business activities in the South...
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Establishing local content law is popular with citizens, but not always effective – AMI analyst

OilNOW -
An expert at Americas Market Intelligence (AMI) says oil firms operating in Guyana and government should meet regularly, in good faith, to discuss constraints facing the companies in the country and develop long-term targets and commitments that go beyond...
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Post pandemic oil and gas opportunities will far outweigh challenges, says ADNOC CEO

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The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2020 Virtual – the world's biggest online gathering of oil and gas industry leaders – opened on Tuesday with a bullish forecast for the sector to emerge stronger from the...
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Refining sector braces for “great shakeout” as demand destruction delivers blow

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Demand destruction wrought by the impacts of the global pandemic is precipitating rapid rationalization in the refining sector as the industry adjusts the level of refining capacity needed compared to what had been expected prior to the pandemic, IHS...
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Staatsolie approves commercial field for Sloanea-1 gas discovery in Suriname’s Block 52

Staatsolie Maatschappij Suriname N.V. has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname....

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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