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Eco Atlantic says it remains fully funded for Guyana offshore as operations slow down

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Eco (Atlantic) Oil & Gas Ltd. said on Wednesday in light of the COVID-19 pandemic, the company continues to take all of the recommended measures to protect the welfare of its personnel. “Ensuring the safety of employees remains a major priority...
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Carter Center: A high-stakes election in Guyana

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(The Carter Center) On March 2, citizens of Guyana went to the polls for what the country was calling “the mother of all elections.” Every election is important, of course, but this one was deemed especially so because five years...
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Gas sector impacted by triple whammy of coronavirus, oil price crash and LNG oversupply – WoodMac

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In its latest short-term gas and LNG outlook report, Wood Mackenzie weighs the risks coronavirus, sustained low oil prices and LNG oversupply pose to the sector this year. “While the collapse of LNG prices towards US production break-evens was foreseeable,...
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No job loss in coming months – BP chief tells staff in ‘global town hall’

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The CEO of BP Plc Bernard Looney has promised the workers of the British oil and gas major that its response to the novel coronavirus does not include making any staff redundant over the next three months. Writing in a...
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Worst oil demand contraction ever recorded in the making

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With billions of people worldwide under some form of lockdown, oil demand may fall as much as 20 million b/d at some stage this year, the International Energy Agency's Executive Director, Fatih Birol, said last week. The massive collapse in...
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EITI to foster greater transparency in implementing states amidst COVID-19

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Chair of the Extractive Industries Transparency Initiative (EITI) International Board Helen Clark said as the world reels from the COVID-19 pandemic, the Secretariat recognises the challenges it will bring on EITI implementing countries whose economies may take a hit...
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Shell expects to book up to US$800 million in impairment charges as oil tumbles

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Based on changes to its oil price outlook for 2020, Anglo-Dutch oil major Shell said on Tuesday its post-tax impairment charges for the first quarter are expected to be in the range of US$400-800 million, as the impact of...
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Refineries shuttering operations as COVID-19 hits demand

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(S&P Global) Refineries in Europe and Africa have started shuttering operations as the coronavirus pandemic hits demand. South Africa's Engen refinery said late last week it had opted for a "temporary controlled shutdown", noting that the lower demand it is...
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Oil drops more than 6% to 18-year low as global demand evaporates

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(CNBC) U.S. oil dropped to an 18-year low on Monday as demand continues to evaporate, and as Saudi Arabia and other OPEC+ nations prepare to ramp up production. With much of the world in lockdown as the coronavirus pandemic rages...
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State capacity deficits put Venezuela among top 5 countries most vulnerable to COVID-19

OilNOW -
South American oil producer Venezuela is listed among the top 5 countries most vulnerable to the COVID-19 pandemic due to major deficiencies in the state’s capacity to tackle the disease. On Monday IHS Markit launched its COVID–19 Country Vulnerability Index,...
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Q1 withdrawal from Guyana’s oil fund up 60% from last year’s

The Guyana government ramped up withdrawals from the country’s oil fund in the first quarter of 2025, taking out...

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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