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Earthquake Watch: Refineries, O&G installations operating normally in Venezuela and Trinidad

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In wake of a major earthquake measuring 7.3 in magnitude which struck Venezuela’s eastern coast at 5:31 pm on Tuesday, reports indicate that the country's oil refineries and oil fields were operating normally. Officials said there were no immediate reports...
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Saipem secures US$700M in contracts for Liza Phase 2 development in Guyana

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Saipem has been awarded contracts for the second phase of the ExxonMobil led Liza development offshore Guyana to the tune of 700 million USD. These contracts, assigned by Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of ExxonMobil,...
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Conoco to recover $2B in agreement with Venezuela

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ConocoPhillips said it will receive $2 billion in a settlement with Petroleos de Venezuela SA, ending a dispute that’s severely crippled Venezuela’s ability to export the crude oil at the heart of its faltering economy. An international tribunal awarded the amount in...
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North Sea union holds fifth day of strikes at Total O&G platforms

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Total confirmed Monday its North Sea production, which feeds the Forties crude stream, had been shut down due to a fifth day of strike action by the Unite trade union, S&P Global Platts said in a report. The fields together...
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Former Anadarko employee arrested for deaths on company property

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A former employee of US oil company Anadarko Petroleum was taken into police custody after the bodies of his wife and two children were discovered on property owned by the company in Colorado. It is being reported that a...
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Study shows Suriname businesses must boost capacity to benefit from offshore oil industry

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As the search for oil continues offshore Suriname, the Dutch-speaking South American country is looking to put systems in place for what the country hopes is an imminent discovery. State oil company Staatsolie recently commissioned an Industrial Baseline Study (IBS)...
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IDA to provide US$1.6M for capacity building

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The International Development Association (IDA), a branch of the World Bank will be providing some US$1.6 million, to aid in preparations for Guyana’s developing oil and gas sector. During a Thursday, August 16, 2018, press conference at the South-American nation’s...
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Venezuela’s crack-up is accelerating

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Country’s neighbors — and the world — should prepare for the worst (Bloomberg) What happens when the country with the world’s largest oil reserves becomes its latest failed state? As Venezuela’s government grows increasingly despotic, a crack-up is accelerating —...
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Guyana President pledges full transparency in stewardship of O&G sector

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Guyanese Head of State, President David Granger has pledged his administration’s ethical stewardship of the country’s developing Oil and Gas industry and integrity in the management of the revenues from the sector. In addressing his supporters at the People’s National...
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Guyana Business Minister to meet with potential UK investors

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Guyana’s Minister of Business Dominic Gaskin will be travelling to the United Kingdom (UK) to meet with potential investors in a number of the South-American nation’s productive sectors, including the emerging petroleum industry. The decision to send the Minister on...
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Guyana’s power demand hits record high at 221.3 megawatts 

Guyana has recorded its highest-ever electricity demand this year, with peak consumption reaching 221.3 megawatts (MW) in September. The...

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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