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Venezuela facing compounding oil woes

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Though it holds the largest reserves of oil in the world, production levels put it only in the middle of the pack among OPEC member states. Venezuelan plans to stabilize crude oil production do little to address bottlenecks and the...
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SBM Offshore says Liza 2 floater would be its largest capacity FPSO ever to be built

OilNOW -
Dutch floater specialist SBM Offshore is awaiting the Liza 2 development sanction in Guyana so it can deliver its largest ever capacity FPSO for the ExxonMobil-operated project. The Company was awarded the Front End Engineering and Design (FEED) study for...
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‘US dollar’ Natural Resources Fund to be held at Bank of Guyana – Green Paper

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In outlining its proposed plan for managing future petroleum revenues and establishing a fiscal rule and a Sovereign Wealth Fund, the Guyana government through its Ministry of Finance stated in a Green Paper presented to Parliament on Wednesday, how...
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Guyana’s O&G earnings to be invested in “safe and liquid assets”- Finance Minister

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A portion of revenues from Guyana’s oil and gas industry, once placed in the imminent Natural Resource Fund (NRF) will be “invested in safe and liquid assets," the country's government proposes.  Among the investment plans touted by the country’s Finance...
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Finance Ministry to manage Guyana’s wealth fund

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Guyana’s Natural Resource Fund—the South American nation’s Sovereign Wealth Fund for its Oil and Gas (O&G) earnings—will be managed by the Ministry of Finance, headed by Minister Winston Jordan.  The Green Paper for the Natural Resource Fund that was recently...
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CLBD, CTVET team up for O&G training

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ExxonMobil Guyana’s Centre for Local Business Development (CLBD) and the Council for Technical and Vocational Education and Training (CTVET) have collaborated to host a two-day workshop for lecturers and instructors of the Government Technical Institute (GTI) and the Linden Technical...
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TOTALTEC Academy graduates join Schlumberger

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TOTALTEC Oilfield Services Guyana has confirmed that the first group of successful graduates from its inaugural Oilfield Safety Training and Operator Programme have been qualified and joined Schlumberger, a world-leading oilfield service company. “This is a true breakthrough for Guyana,...
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Single Fund deemed to be sufficient for petroleum revenue management

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A single fund will be the most “effective, efficient and transparent mechanism” for achieving the multiple objectives of the Guyana Government for the successful management of oil and gas revenues.  This is the determination of the Ministry of Finance as...
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Venezuelan Petroleum Professor addressing Green Economy Workshop in Guyana

OilNOW -
A Venezuelan Professor of Petroleum is currently in Guyana giving advice on developing the oil and gas sector in hopes that the country does not repeat Venezuela’s mistakes.  Professor Carlos Mendoza Pottella, who is the Visiting Advisor to the Central...
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Youth Parliamentarians to discuss and debate O&G

OilNOW -
The topic of oil and gas will be subject to debate and discussions in Guyana during the 2018 Youth Parliament which opens on Wednesday, August 15, 2018, at Parliament Building, Georgetown.  During a Press Conference about the event on Tuesday,...
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CNOOC’s record production in Guyana boosts strong Q3 results

CNOOC Limited announced its highest-ever net production and net profit for the third quarter of 2024, crediting increased output...

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