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Saudi Aramco targeting up to $1.7 trillion in IPO valuation

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Saudi Arabia’s state-owned oil giant Aramco announced Sunday it will sell a 1.5% stake in the company as it looks to raise as much as $25.6 billion from the sale. The newly released figures also revealed a valuation for the...
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A subsea giant could be in the making with Saipem, Subsea 7 merger

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A merger between Italian-based Saipem – one of ExxonMobil’s Prime Contractors for its offshore project in Guyana – and UK-based Subsea 7 would create a subsea giant in the oilfield services industry. Commenting on unconfirmed reports that such a merger...
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Total announces first oil from Brazil’s offshore Iara license

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French oil giant Total announced on Friday first oil from the Iara license (Block BM-S-11A), located in the deepwater Santos Basin pre-salt in Brazil. According to a press release from the company, this development marks the start-up of the P-68,...
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Guyana must decide on pace of oil development – money now or later?

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Director of Guyana’s Department of Energy (DE), Dr. Mark Bynoe says the South American country of Guyana faces some tough decisions going forward as it relates to the pace of offshore oil development and that this must be taken...
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Chamber to launch Business Directory on Day 1 of GIPEX

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The Georgetown Chamber of Commerce and Industry (GCCI) will be moving to launch its Business Directory on the evening of the first day of the Guyana International Petroleum Exhibition and Summit (GIPEX) set to take place on November 20...
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Venezuela is secretly exporting millions of barrels of oil

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(Bloomberg) -- The Dragon, a massive oil tanker flying the Liberian flag, is supposed to be floating somewhere off the coast of France, according to its last GPS signal. Instead, it’s currently thousands of miles away in Venezuela where, under...
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Saipem clinches subsea contract for Payara project

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ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded a subsea contract to Saipem for the proposed Payara development project located in the Stabroek block offshore Guyana, at a water depth of around 2000 metres. Saipem said on...
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Orinduik explorers remain confident of Guyana prospects – gunning for ‘lighter oil’

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While analysis of Tullow Oil’s recent discoveries at the Orinduik Block offshore Guyana has proven to be disappointing, the Joint Venture Partners remain confident of prospects offshore the South American country and will be updating their modelling to guide...
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Maersk enters new contract with Shell for 2-well project offshore Trinidad & Tobago

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Maersk has announced that it has entered into contract with BG International Ltd., a subsidiary of Shell, for work offshore Trinidad and Tobago on a two-well development project for the semi-submersible rig Mærsk Developer. The Energy Chamber of Trinidad and...
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Tullow stock sinks on quality concern over Guyana crude

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(Bloomberg) - Tullow Oil stock fell the most in two decades in London trading after saying it’s reassessing the commercial viability of discoveries in Guyana. The stock sank as much as 23% on the news that crude from two wells...
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Letter-to-the-Editor: I commend the Labour Ministry’s independent assessment of FPSOs

Dear Editor, I am pleased to acknowledge the strides made by local authorities in taking the lead in managing Guyana’s...

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