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Current oil price forces Biden to push back purchase of six million barrels for emergency reserve

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In response to soaring oil prices that have rallied above US$80 a barrel, the Joe Biden administration is once again postponing the replenishment of the nation's emergency oil reserve. The decision comes as the Department of Energy (DOE) is...
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Oil minister tables historic petroleum bill in Guyana Parliament 

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Guyana’s Minister of Natural Resources, Vickram Bharrat, has tabled the Petroleum Activities Bill 2023 in the country's Parliament. The Bill was initially published for consultation with stakeholders and has now been revised by the government to incorporate acceptable comments. In...
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Guyana establishes world dominance in discovered volumes for 2023, surpasses 600 million boe – Rystad Energy

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Guyana's Stabroek Block has proven to be a game-changer in the global energy landscape, propelling the South American nation to the forefront of discovered volumes. According to a new Rystad Energy report, Guyana has surpassed all other contenders, recording...
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Colombia’s fiscal reforms can push investors to Guyana basin – WoodMac

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A recent analysis by energy consultancy firm Wood Mackenzie indicates that the oil sectors of the burgeoning Guyana-Suriname basin could reap benefits from fiscal reforms introduced by Colombia's newly elected President, Gustavo Petro. The Colombian president has launched an ambitious...
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Ghana Chamber of Commerce to lead Local Content Conference in Georgetown

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The Ghana Chamber of Commerce is gearing up to spearhead a pioneering two-day Ghana - Guyana Local Content Conference, scheduled to take place in Georgetown, Guyana, at the Marriott Hotel on Thursday, August 10. This event, a collaboration between the...
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UK-Guyana trade surges to £1.6 billion, signaling growing economic ties

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Total trade in goods and services between the United Kingdom and Guyana has reached an impressive £1.6 billion in the four quarters leading up to the end of Q2 2023, a new report from its Department of Business and...
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Bp reports drop in Q2 net profit as energy prices retreat from post-invasion peaks

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British energy giant bp announced a significant drop in second-quarter net profit as oil and gas prices retreated from the historic highs reached a year earlier following Russia's invasion of Ukraine. The company reported that profit after tax plummeted...
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G20’s failure to reach consensus on phasing out fossil fuels leaves COP28 at risk of failure – VP Jagdeo

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The recent G20 meeting in India concluded without leaders reaching a consensus on two crucial issues: phasing out fossil fuels and fulfilling the US$100 billion per year promise to support climate adaptation and mitigation in developing countries. This failure...
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Guyana’s first private solar farm planned for Loo Creek

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Caiman Industries, Environmental (CIE) is planning to develop a 5.8 MW solar farm. The project marks what would be the first instance of a private developer embarking on a such a project in Guyana, with all other solar farms...
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Attempts being made to destabilise Petrobras top management, says CEO Prates

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Chief Executive Officer Jean Paul Prates of Brazil's oil giant Petrobras stated on Sunday that the company endured a week-long onslaught of a "rampant" but "ineffective" campaign aimed at destabilising its current management. “One of the many tricks that we...
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Guyana must transform its oil boom into sustainable, broad-based prosperity – Minister Ally 

Guyana’s Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, has called on business leaders to convert the...

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