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Exxon adds 2.6 million acres to Argentina upstream holdings

OilNOW -
ExxonMobil has increased holdings in Argentina after its subsidiary ExxonMobil Argentina Offshore Investments B.V. and an affiliate of Qatar Petroleum won three exploration blocks during Argentina’s first offshore bid round. The award adds approximately 2.6 million net acres to its...
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Liza world class returns puts it on par with the best Brazil pre-salt has to offer – WoodMac

OilNOW -
Industry analyst Wood Mackenzie says the Liza Complex in Guyana is one of the largest and best deepwater projects in the world and is playing a key role in the exploration frenzy unfolding on the South American continent. “A winning...
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Oil slips to $71, hit by talk of higher OPEC+ production

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(Reuters) - Brent oil slipped to around $71 a barrel on Tuesday, pressured by expectations of higher U.S. inventories and concern about Russia’s willingness to stick with OPEC-led supply cuts. Analysts on average expect U.S. crude stockpiles to have risen...
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Nigeria oil minister says Exxon not leaving

OilNOW -
Reports that US oil major ExxonMobil was mulling the sale of oil and gas fields in Nigeria for up to $3 billion as the company focuses on Guyana’s Stabroek Block and investments in the US Permian Basin are untrue,...
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New milestone at Stabroek as first subsea tree installed

OilNOW -
The Liza Phase 1 Development has reached another incredible milestone—installation of the first subsea tree. A subsea tree monitors and controls the production of a subsea well. Affixed to the wellhead of a completed well, it can also manage fluids...
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100% Guyanese workforce preps Saipem shore base for first shipment of pipes offshore

OilNOW -
The first shipment of pipes for the Liza field to be loaded directly from the Saipem shore base facility, sitting on the eastern bank of the Demerara River in Georgetown, took place over the weekend, marking a significant step...
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Juan Guaido: Why China should switch sides in Venezuela

OilNOW -
(Bloomberg) China is the world's largest oil importer and Venezuela has the largest proven oil reserves in the world. For those two reasons alone, the economic relationship between our nations will inevitably grow. In fact, we hope for even...
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FID and key terms in O&G industry

OilNOW -
FID is the Final investment decision to invest in a project, typically made by the board and executive committee of oil companies. At this point, major risks have been mitigated and concerns addressed. The project then moves to execution,...
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Chevron gets treasure, trouble with rebel-hit Mozambique gas

OilNOW -
(Bloomberg) -- "With great power comes great responsibility," said Uncle Ben in the famous Marvel Comic turned blockbuster film Spider-Man (2002). Chevron Corp.’s acquisition of Anadarko Petroleum Corp. gives it access to the popular Permian Basin, in addition to...
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China, Russia ‘spread disorder’ in Latin America – Pompeo

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(Bloomberg) Secretary of State Michael Pompeo blamed China and Russia for spreading “disorder” in Latin America by funding failing development projects and supporting leaders such as Venezuelan President Nicolas Maduro, who the U.S. insists must step down from power. Pompeo,...
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TechnipFMC mobilizes first subsea 2.0® tree from Guyana for Uaru development

TechnipFMC marked a key milestone for its configure-to-order Subsea 2.0® platform, which has benefited from its global talent pool....

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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