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Guyana’s oil fund almost at US$1.4 billion at November’s end

OilNOW -
Guyana’s Natural Resource Fund (NRF), held at the New York Federal Reserve Bank, soared to US$1,391,406,433 at the end of November 2022. In its monthly statement on the Fund, Guyana’s Central Bank said the account received GY$36.9 billion (US$177.14...
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Resource-dense Stabroek Block offers tremendous scope for tie-backs – Hess Chief

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With Guyana’s Stabroek Block being such a resource dense concession, ExxonMobil Guyana and its partners see great potential for tie-backs that could lengthen the lifespan of varying projects. This was noted by Chief Executive Officer (CEO), John Hess during the Bank of America...
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Guyana, Brazil will have to brace for costlier deepwater projects

Kemol King -
In a recent analysis of deepwater developments, Wood Mackenzie said that supply chain constraints remain a concern. And this spells difficulty for operators under pressure to increase drilling and production at a time when energy markets have been sent...
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Strong institutions, citizens’ innovative skills key to Guyana unlocking oil potential – Professor Haynes

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As oil-rich Guyana continues its quest for transformative growth, there are two main factors that will determine the extent of its success—the robustness of its institutions and government’s ability to harness the innovative gifts of its citizens. Making this point during...
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Guyana to keep a diversified portfolio of foreign aid, despite growth in oil revenues – Finance Minister

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Notwithstanding Guyana’s multi-million-dollar earnings from the oil and gas sector, it will maintain a diversified portfolio of low-interest lenders. Senior Finance Minister, Dr. Ashni Singh made this declaration while facilitating a meeting with British officials on the mobilisation of...
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Eco (Atlantic) fully funded for Guyana well next year

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Eco (Atlantic) Oil & Gas Ltd. said it is fully funded for the next well to be drilled in the Orinduik Block offshore Guyana in 2023. The company made this disclosure in a report on its good financial health for the first...
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Trinidad and Tobago unveils hydrogen roadmap; aims to be a major supplier of the region

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Trinidad and Tobago, a regional powerhouse in petrochemicals, is positioning itself to be a key player in the global energy transition through investments in hydrogen. The National Energy Corporation of Trinidad and Tobago Limited (National Energy), on behalf of the...
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All agreements, policies for Gas-to-Energy project will be provided to Parliament, says Bharrat

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Guyana's Natural Resources Minister, Vickram Bharrat has assured that the National Assembly will be furnished with all agreements signed for the US$2.2 billion Gas-to-Energy (GTE) project. Mr. Bharrat provided this assurance as part of a written response to a question...
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As blockbuster profits rise in Guyana, ExxonMobil moves to close shop in Equatorial Guinea

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ExxonMobil Corporation is reportedly planning to wind down oil production in Equatorial Guinea and close shop after its licence expires in 2026. According to a Reuters report, Exxon has cut production in Equatorial Guinea to less than 15,000 barrels...
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CGX secures two more years with the Kawa-1 discovery area

Kemol King -
Chief Executive Officer of Frontera Energy, Orlando Cabrales, said Thursday that the Corentyne Block joint venture (JV) – CGX Energy and Frontera – filed a notice of potential commercial interest in recent months with the Guyana government for the...
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Here’s everything you need to know about ExxonMobil’s proposed Longtail development 

ExxonMobil’s proposed Longtail project will mark Guyana’s entry into gas development, setting the stage for the country’s first non-associated...

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