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Norway says still willing to cut oil output if OPEC+ plan implemented

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(Reuters) - Norway, Western Europe’s largest oil producer, said on Saturday the country was still considering cutting oil production if the OPEC+ group implemented its plan. “How any potential output cut will be carried out by Norway, and the size...
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Record oil production cut hangs in balance as G20 meeting concludes with no specifics

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(CNBC) A record oil production cut hangs in the balance after energy ministers from the Group of 20 major economies on Friday agreed that stabilization in the market is needed but stopped short of discussing specific production numbers. “To underpin global...
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Guyana oil production in best position to weather global price storm

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As disruptions in the global oil and gas industry intensify as a result of oil price shocks and the COVID-19 pandemic, companies have been forced to slow down or stop operations altogether. While the co-venturers at Guyana’s Stabroek Block...
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Offshore drillers face up to $3 billion in contract cancellations – Rystad Energy

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The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling in particular is among the most affected industry segments. A Rystad Energy impact analysis estimates that drillers...
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CNOOC plans to cut 2020 investment by up to 15%

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(Reuters) - China National Offshore Oil Corp (CNOOC) will trim annual investment by 10% to 15% in 2020, while maintaining its goal of increasing domestic crude oil and natural gas production for the year, the company said in a...
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Canada leads global list of those in trouble, set to see above 1.1 million bpd halt

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The COVID-19 pandemic has devastated global oil demand triggering the start of shut-ins at operations around the world, led by Canada. A Rystad Energy analysis shows that Canada is the oil producer most affected so far, with the damage estimated...
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JPMorgan wants to dump sovereign fund loans from Saudi Arabia, UAE

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(Reuters) - JPMorgan is seeking to sell at a discount loans raised by the sovereign wealth funds of Saudi Arabia and the United Arab Emirates, according to two sources and a document cited by Reuters, as banks brace for...
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OPEC, allies agree to slash production by 10 million barrels per day

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(Bloomberg) - Major oil producers agreed to slash output as feuding members of the OPEC+ coalition buried differences in an effort to lift the market from a pandemic-driven collapse. The Organization of Petroleum Exporting Countries and its allies, meeting by...
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Project delays likely as construction yards close on COVID-19 concerns – SBM Offshore

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Construction activities being carried out by Dutch floater-specialist SBM offshore at several locations across the world, including Singapore where the Liza Unity FPSO is being built for ExxonMobil’s second development project in Guyana, could face some project execution delays...
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Halliburton cuts 350 jobs, executive pay as oil bust deepens

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Oilfield services firm Halliburton Co said on Monday it was cutting about 350 employees in Oklahoma, according to a filing with the state, and that its executives would reduce their salaries amid a deepening oil price rout, Reuters said...
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ONE GUYANA FPSO equipped to ensure uninterrupted gas handling offshore – GoG

The Government of Guyana has confirmed that the ONE GUYANA floating production storage and offloading (FPSO) vessel is the...

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