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Stabroek partners to make final investment decision on gas-to-energy project by year-end

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By the end of 2022, ExxonMobil and its Stabroek Block partners are expected to make the final investment decision (FID) on Guyana’s transformational gas-to-energy project. President of ExxonMobil Guyana, Alistair Routledge, related this to Senior Contributor to Forbes, David...
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Guyana’s fiscal take on higher end, among leading offshore producers – Rystad Energy

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Comparing the fiscal regimes of other offshore producers, Guyana’s is on the higher end, says Rystad Energy, an independent energy research and business intelligence company. In its latest analysis, Rystad found that the government’s take amounts to 59% of total...
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Hess moves to buy back US$650M in company shares by year-end as quarterly profits soar

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Given its projections for strong cash flow growth and quarterly earnings totaling US$667 million, Hess Corporation disclosed that it intends to complete a massive share repurchasing programme by year-end worth US$650 million. During its recent Q2 earnings release, Hess...
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As Guyana expands rapidly, government to promote circular economy

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With Guyana’s oil sector poised to expand with six floating, production, storage, and offloading (FPSO) vessels by 2027, other supporting industries such as construction and services, and even agriculture, are set to reach new economic heights. Cognizant of this...
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Guyana has enough gas to replace 17% of Russia’s supply to Europe – AMI analyst

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Guyana has delivered around 11 billion barrels of oil equivalent since 2015, the largest offshore oil discovery in the past decade, with the potential to replace at least 17 percent of the gas supply lost to Europe due to...
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Front-end design work for Exxon’s fifth Guyana project underway – Hess

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John Hess, Chief Executive Officer (CEO) of Hess Corp. announced to investors that the front-end engineering and design (FEED) work for ExxonMobil’s fifth development in the Stabroek Block is already underway. “As for our fifth development at Uaru-Mako, the operator  anticipates submitting the...
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When oil supply is low, the developing world suffers – President Ali tells Washington forum

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As the week-long high-level Guyana-United States meetings continued in Washington, President Dr. Mohamed Irfaan Ali, on Wednesday spoke about the need for a balance between oil and gas development and climate aspirations. In this regard, he reaffirmed Guyana's commitment...
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Hess pumps over US$600M into Guyana, other key global assets for 2022 second quarter

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Hess Corporation reported on Wednesday that its capital and exploratory expenditure for the second quarter of 2022 totaled US$622 million compared with US$429 million in the prior year’s quarter. The company said this is primarily due to higher drilling...
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US EXIM Bank’s US$2B package for roads, agriculture, renewables in Guyana

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The Export-Import Bank of the United States (EXIM) said the memorandum of understanding (MoU) it signed with Guyana on Wednesday, includes direct loans, loan guarantees, and insurance products, to finance the sale of US exports to Guyana for government projects totaling...
Discoveries

Petrobras finds gas at Uchuva well, offshore Colombia

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A discovery of accumulated natural gas was made by Brazil’s state-owned Petrobras, 32 kilometers off the coast of Colombia in the Uchuva-1 well. The company announced Friday that the well was drilled at a water depth of approximately 830 meters,...
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Jagdeo says LNG remains a priority as Guyana moves to monetize its gas resources

Guyana’s Vice President Bharrat Jagdeo has reaffirmed that liquefied natural gas (LNG) remains a key option in Guyana’s plan...

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