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Guyana must strengthen legislative framework to fight corruption – Political Risk Analyst

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It is of critical importance that with just two years away from ‘first oil’ the Government of Guyana focuses on strengthening its legislative framework so that it can effectively fight corruption. This is the advice being shared by Thiago de...
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BP continues to build on success of 2017

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(Forbes) At last week’s AGM held at Manchester Central Convention Complex, Bob Dudley, BP group chief executive took the opportunity to extol the company’s progress this year. The highlight was the start of seven major projects on time and...
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Guyana expected to play key role in South America’s petroleum output over next decade

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South America’s oil and gas output is expected to stay rather flat over the next five years, increasing to around 11.7 million barrels of oil equivalent per day (boe/d) by 2025, says Norway-based Rystad Energy. The declining production from...
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ExxonMobil aiming to curb gas flaring by 25% in less than 2 years

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US oil major ExxonMobil said on Wednesday it intends to cut back on natural gas flaring by 25% and methane emissions by 15% in less than two years. The announcement is part of the company’s greenhouse gas reduction measures which...
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Except for Venezuela Latin America O&G outlook stable says Moody’s

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The outlook for the Latin American oil and gas industry is stable, Moody's Investors Service says in a new report. Over the next 12 to 18 months, favorable economic and regulatory environments will support solid operating results for the...
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Jamaica encouraged by 3D oil and gas surveys

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(Amsterdam News) Jamaica is fancying its chances of becoming the latest Caribbean Community nation after Guyana to find commercial quantities of oil and gas in the wake of encouraging indications from the most recent round of offshore surveys. Jamaican authorities...
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Venezuela’s slump, Iran sanctions and oil prices: a potent cocktail brewing?

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Global oil supply will break through the 100 million b/d mark for the first time later this year. Producers the world over, through innovation and risk-taking, have invariably contrived to meet the unstoppable train that is demand growth, says...
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‘Pay more attention to oil price rather than contract’ – urges Guyanese engineer

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The volatility of oil price is a key factor in making projections about revenue, and as such, keen attention should be focused in this area as Guyana moves towards first oil.  In fact, Guyanese scientist and Director at Mid-Atlantic...
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Venezuela election: Maduro expels top US diplomat

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(BBC) Venezuela has expelled the senior US representative in the country amid an international backlash against Nicolás Maduro's re-election as president. Mr. Maduro announced the expulsion of charge d'affaires Todd Robinson as his victory in Sunday's vote was being proclaimed...
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World Bank, Guyana gov’t stage high-level workshop on Sovereign Wealth Fund

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The World Bank and Government of Guyana staged a high-level workshop on Stabilization/Sovereign Wealth Funds on Monday in the South American country’s capital, Georgetown, as part of a number of initiatives being taken to enhance knowledge and understanding of...
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IMF forecasts another year of double-digit economic growth for Guyana 

Guyana is expected to be one of just two countries in the world to post double-digit economic growth in...

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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