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Guyana’s first national budget backed by oil revenues to be presented today

OilNOW -
‘People-centred and geared towards transformation’ are the words being used to describe Guyana’s first national budget set to be presented today in Parliament which will be backed by some of the more than US$600 million in oil revenues now...
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Audit of Exxon’s post-2017 costs in Guyana will move forward – oil minister

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Minister of Natural Resources Vickram Bharrat has confirmed that the Government of Guyana is continuing its search for auditors to examine ExxonMobil’s 2018-2020 costs. In his written responses to questions relating to the audit, Mr. Bharrat told the National Assembly...
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Wireline sales in Guyana help boost Halliburton’s Q4 revenue

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Halliburton announced on Monday that its total revenue for the fourth quarter of 2021 was $4.3 billion compared to revenue of $3.9 billion in the third quarter of the year. The company said in its drilling and evaluation division, revenue was US$1.9 billion—an increase...
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South American oil nations sign MoU to explore development of energy corridor

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Guyana’s President Dr. Mohamed Irfaan Ali said on Monday the South American country along with Brazil and Suriname will explore the development of an energy corridor linking the oil producing nations. He said that Guyana is also committed to the...
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Peru calls bid round as crude output dwindles

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(S&P Global Platts) Peru's government plans to call for bids in June for up to seven crude oil producing blocks on its northern coast as production dwindles. The blocks in the Talara Basin, both onshore and offshore, lie in mature...
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As much as US$600 million could be delivered per year from local content targets, says Guyana VP

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Guyana’s Vice President Dr. Bharrat Jagdeo says the administration is leading from the front to ensure the country of just over 750,000 people benefit from the more than 10 billion barrels of oil equivalent resources which have been found...
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Guyana receives bids for combined construction of gas-to-energy facilities

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Bids from 12 companies were opened last Thursday for the combined construction of a natural gas fired power plant and natural gas liquids (NGL) plant for Guyana’s landmark gas-to-energy project. According to an update from the Department of Public Information,...
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Elevated geopolitical risks in Europe, Middle East pushing oil prices up

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(Reuters) - Oil prices rose on Monday on worries about supply disruption amid concerns about Russia-Ukraine discord and rising tensions in the Middle East, which could make an already tight market even tighter. Brent crude rose 31 cents, or 0.4%,...
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150 companies, four heads of state confirmed for February energy conference

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Response to the International Energy Conference set to take place in Georgetown next month has been overwhelming so far with around 150 companies and four heads of state confirmed for the flagship event. “We have about 150 companies registered, some...
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Norway group estimates Stabroek Block now holds more than 13.5 billion boe

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‘Hook, line and sinker’ is the phrase being used by Norway-based Rystad Energy to describe ExxonMobil’s spectacular start to the new year in Guyana where it made two more discoveries at the Stabroek Block, its most lucrative license offshore...
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Guyana oil fund gets US$228 million in October

Guyana received US$228 million (GY$48 billion) in oil revenues in October, according to the latest update on the operations...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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