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Maduro’s Grip on Venezuela’s oil economy tightens with purge

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(Bloomberg) After quashing street protests and corralling his political opponents, President Nicolas Maduro has set his sights on Venezuela’s economic engine. The authoritarian socialist’s administration has begun a broad purge at state-owned Petroleos de Venezuela, arresting more than 50 officials...
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ExxonMobil stops non-essential work in PNG highlands due to unrest

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(Reuters) - ExxonMobil has evacuated non-essential staff working in the highlands of Papua New Guinea due to unrest in the area, but operations are continuing at its PNG LNG liquefied natural gas project, the company said on Thursday. “Due to...
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Eight energy companies commit to reduce methane emissions within natural gas industry

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BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall today committed to further reduce methane emissions from the natural gas assets they operate around the world. The energy companies also agreed to encourage others across the natural gas value...
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Exxon business centre reaches out to Linden

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ExxonMobil’s Centre for Local Business Development (CLBD) in collaboration with the Linden Chamber of Commerce met last Wednesday with local businesses from Linden as part of a series of country wide meetings with the business community in Guyana, South...
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Total will lose entire investment if it pulls out of South Pars -Iran oil minister

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(Reuters) - France’s Total will lose all of its investment if it pulls out of a deal with Iran to develop South Pars, the world’s largest gas field, the Iranian oil minister said on Tuesday. “If Total, without the enforcement...
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Venezuela leans on foreign partners for oil to feed its refineries

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Venezuela’s state-run PDVSA is siphoning oil from its cash-paying joint ventures with foreign firms to feed its domestic refineries, two sources close to the matter told Reuters, at a time when late debt payments have triggered defaults. According to a...
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Guyana reshaping security reform for O&G related crimes – security minister

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The Guyana Government is refocusing its €4M British Security Reform Project along with its US$15M Citizens Security Project for a more tailor-made approach to tackle potential criminal realities associated with a booming oil economy. Minister of Public Security, Vice President, Khemraj Ramjattan,...
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Guyanese crew members get thumbs-up for safety onboard Chouest vessels

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Several Guyanese crew members working onboard the Edison Chouest MV Cat Island, Fast Titan and Hannah Chouest vessels have been recognized for their safety performance. The El Dorado Offshore employees were recognized by ExxonMobil through the company’s Catch of the...
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Funds with $630B react to Norway oil ‘revolution’

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(Bloomberg) Asset management in the Nordic region is dominated by Norway’s $1 trillion sovereign wealth fund, which last week said it wants to exit all its oil and gas stocks. Bloomberg spoke with institutional investing heads who help manage a...
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TechnipFMC says surface activity outside North America resilient

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UK-based TechnipFMC says its surface activity outside of North America has been resilient, and the pricing environment has stabilized. In the company’s 3Q 2017 earnings conference call, CEO Douglas Pferdehirt, said, “The Middle East, North Africa and the North Sea...
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Moonilal appoints new boards for Trinidad’s state energy companies

Trinidad and Tobago's Energy Minister Roodal Moonilal on Monday issued letters of appointment to the new boards of directors...

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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