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EU says Venezuela’s recent elections an improvement over past votes, but problems persist

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(Al Jazeera) Venezuela’s recent regional and local elections were held under better conditions than previous contests, the head of a European Union observation mission has said, despite a series of irregularities. Isabel Santos told reporters on Tuesday that EU observers noted a...
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Global oil reserves release is ‘a drop in the ocean’, says Goldman Sachs

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(Reuters) - A coordinated release from government oil reserves led by the United States may add about 70 million to 80 million barrels of crude supply, smaller than the more-than-100 million barrels the market has been pricing in, analysts...
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Deepwater drillers positioning for big opportunities in prolific Guyana-Suriname basin

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The Guyana-Suriname Basin is currently a big operating arena for deepwater players Maersk Drilling and Noble Corporation, and according to S&P Global Platts, the companies are looking to expand this position as they merge to create a world class...
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Analyst says measures should be put in place to ensure local companies are paid for services in a timely manner

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A lead analyst at Americas Market Intelligence (AMI) says measures should be put in place to ensure local companies in Guyana providing services to the oil and gas sector are paid in a timely manner, particularly since access to...
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Guyana labour ministry kicks off two-day health, safety programme with Exxon

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Guyana’s Ministry of Labour said it is forging ahead with establishing strong relationships with oil and gas companies operating in the new oil producing South American country and promoting more health and safety awareness in the sector. On Monday, the...
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Guyana’s fledgling oil sector contributes over GY$440 billion to economy

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With oil production only commencing less than two years ago, Guyana’s fledgling oil sector has brought in over GY$440 billion; or GY$57 billion more than the 2021 budget. This is according to data from the Central Bank, Stabroek Block...
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NRF legislation will allow Guyanese to understand how oil money is being managed – Vice President

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Even as the government in Guyana continues its efforts to have a robust Natural Resource Fund (NRF) legislation in place that insulates the oil revenues from political abuse, the administration is also working on having a simplified formula for...
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Finding right balance in JVs will ensure Guyanese companies don’t get ‘short end of stick’, says analyst

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As more local companies enter joint ventures (JV) in Guyana to pursue growing opportunities in the country’s emerging oil and gas sector, one expert in the industry says finding the right balance in JV agreements is crucial if locals...
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Goldman calls oil’s recent fall excessive, reiterates $85 forecast

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(Reuters) - The recent declines in oil prices were "excessive" given that the oil market remains in a deficit, Goldman Sachs said, adding that it reiterates its $85-per-barrel forecast for the fourth quarter. Oil prices came off seven-week lows on...
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Heavyweights racing to produce more oil while poor countries are being told to slow down

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Almost all the major oil producing countries in the world are doing the same thing – moving to increase output significantly in coming years as the world races towards the 2050 climate goals and braces for a potential shortfall...
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Noble launches pre-qualification for offshore scaffolding services in Guyana

Noble Finance Company, an affiliate of Noble Corporation, has issued a Request for Information (RFI) to pre-qualify companies capable...

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