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Chevron to buy out Hess Corp., will gain access to worldclass Guyana play

OilNOW -
Chevron Corporation announced on Monday that it has entered into a definitive agreement with Hess Corporation to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on...
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ExxonMobil’s Pioneer acquisition signals potential for strong growth in U.S. oil output

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In a notable move that may have significant implications for the future of U.S. oil production, ExxonMobil's recent acquisition of Pioneer Natural Resources for US$64.5 billion is drawing attention and praise. The deal, the largest in the upstream industry...
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QatarEnergy, Shell strengthen global partnership with 3.5 MTPA LNG deal

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QatarEnergy and Shell have cemented their partnership with the signing of two significant long-term LNG sale and purchase agreements (SPAs) for the supply of up to 3.5 million tons per annum (MTPA) of liquefied natural gas (LNG). The agreements...
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Ongoing Israel-Hamas conflict threatens regional natural gas market and Europe’s LNG supply

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The persistent conflict between Israel and Hamas, the Palestinian militant group, is casting a looming shadow over the regional natural gas market. This situation raises concerns about the potential repercussions for Europe's liquefied natural gas (LNG) supply as the...
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U.S. to add 6 million barrels more to strategic petroleum reserves by December 

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The U.S. Department of Energy has taken steps to acquire six million barrels of crude oil, scheduled for delivery between December and January, as part of its energy security strategy. Market reports suggest that the purchase contracts will be...
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Guyana’s hospitality sector gears up for 2,000-room demand surge amid oil and gas boom

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Guyana's hospitality industry is experiencing significant growth in tandem with its booming oil and gas sector, resulting in a surge of internationally branded hotels being constructed in and around the nation's capital, Georgetown - the epicenter of the oil...
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Exxon, partners to plug GY$800 million into “largest hydroponics project in Caribbean” – Pres. Ali

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A new hydroponic farming project initiative has been launched in Guyana - the largest in the Caribbean, according to President, Irfaan Ali with 300 young Guyanese being the beneficiaries.  The funding comes from the Greater Guyana Initiative (GGI) - a...
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“We are not going to weaken the PSA to suit ExxonMobil” – Jagdeo

Shikema Dey -
Guyana’s Vice President Bharrat Jagdeo said on Thursday that the government does not intend to alter its new production sharing agreement (PSA) to suit ExxonMobil - the lone producer offshore. The new terms do not apply to the Stabroek Block...
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China Merchant Heavy Industries selects TMC Compressors for SBM Offshore FPSO project

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China Merchant Heavy Industries (CMHI) has awarded a contract to TMC Compressors (TMC) to deliver a marine compressed air system for a new build production vessel being constructed for SBM Offshore. TMC will supply a large-capacity marine compressed air system,...
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Exxon was faced with a “drill or drop” decision regarding Kaieteur block – Routledge 

Shikema Dey -
ExxonMobil was faced with a “drill or drop” decision regarding Guyana’s offshore Kaieteur Block, says President of the local affiliate, Alistair Routledge.  On September 28, Exxon indicated that it was leaving the block. Another partner in the block - Hess,...
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Guyana launches Global Student Exchange with EU & UG on health, oil and gas, engineering sectors

The European Chamber of Commerce Guyana (ECCG), in partnership with the European Union and the University of Guyana (UG),...

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