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Saudi Arabia signs deals worth $50 billion in oil, gas and infrastructure

OilNOW -
(Reuters) - Saudi Arabia signed deals worth more than $50 billion in oil, gas, infrastructure and other sectors at an investment conference in Riyadh on Tuesday, officials there said. Details were announced at the Future Investment Initiative, held in Riyadh...
News

Brazil’s Petrobras receives $149M payment from SBM in leniency deal

OilNOW -
(Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA has received an initial payment of 549 million reais ($148.92 million) from Dutch marine engineering group SBM Offshore as part of a 1.22 billion-real leniency deal, the Brazilian government said...
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TechnipFMC awarded subsea contract for ExxonMobil Liza Phase 2 Project; commits to boosting local content

OilNOW -
TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) has been awarded a contract by ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. for the engineering of the subsea system for the proposed Liza Phase 2 project. Following engineering and subject to requisite government approvals,...
News

Hammerhead appraisal could signal good tidings for Eco Atlantic

OilNOW -
“I think everyone hopes to be the next Cove, but the only one that really offers something like that is the Guyana blocks,” said Ashley Kelty, a Cantor analyst. “That’s the closest to Mozambique that we’ve had for a...
News

Saudi Arabia has no plans to repeat 1973 oil crisis

OilNOW -
(Bloomberg) -- Saudi Arabia has no intention of using its oil wealth as a political tool in the controversy over the killing of journalist Jamal Khashoggi, and the kingdom plans to boost crude output again soon. "For decades we used...
News

Halliburton international sales rise

OilNOW -
(Reuters) Oilfield services provider Halliburton Co.’s (NYSE: HAL) third-quarter profit edged past analysts’ estimates on Oct. 22, helped by its international business, even as pipeline bottlenecks in North America led to fewer well completions. Halliburton, the largest provider of hydraulic fracturing...
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Guyana could become ‘linchpin of stability’ for greater Caribbean Basin – ASP

OilNOW -
No one should pretend that just because Guyana found oil and will profit from its extraction that its history, divided politics, and geopolitical challenges are gone, says the American Security Project (ASP). On the other hand, no one should...
News

Minister fears small businesses have not grasped magnitude of coming oil bonanza

OilNOW -
Guyana's Minister of Business, Dominic Gaskin, said businesses that understand where the country is going over the next two decades will make better decisions than those that do not. He was at the time delivering remarks at the opening of...
Opinions

The financial sector and business cycle linkages in the emerging Guyanese oil economy

Bobby Gossai, Jr. -
The recent oil price fluctuation has created concerns for many oil-exporting countries and particularly for the Organization of the Petroleum Exporting Countries (OPEC) members. For Gulf countries, hydrocarbon exports represent more than half of total exports. Oil revenues account...
News

Saipem, Petrofac and Samsung awarded US$4B onshore E&C contract in Thailand

OilNOW -
Saipem, in consortium with Petrofac and Samsung, has been awarded a new Onshore E&C contract in Thailand for the expansion of the Sriracha refinery. The total value of the project is approximately 4 billion USD. In a press release on...
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Guyana’s first major oil & gas training college to welcome full cohort next month

The long-awaited Guyana Technical Training College Inc. (GTTCI) is set to welcome its first cohort of students to be...

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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