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Exxon makes new Guyana discovery, increases resource to 10 billion barrels

OilNOW -
ExxonMobil announced on Thursday a new discovery at the Cataback-1 well and increased its estimate of the discovered recoverable resource for the Stabroek Block offshore Guyana to approximately 10 billion oil-equivalent barrels. Cataback-1 brings the total significant discoveries to more...
Exploration

High quality crude, big investments propelling Guyana as key global player

OilNOW -
The light sweet crude being produced in Guyana is poised to help meet a rise in global energy demand which the U.S. Energy Information Administration (EIA) says could increase 47% in the next 30 years, driven by population and...
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bp to grow leading US technology company that turns commercial buildings into virtual power plants

OilNOW -
On Thursday bp announced that it had acquired Blueprint Power (Blueprint), a US-based technology company whose technology can help turn buildings into a flexible power network by connecting them to energy markets through cloud-based software. Blueprint’s technology presents an...
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Guyana has 3rd highest crude oil reserves in Latin America-Caribbean region

OilNOW -
New oil producer Guyana has been rapidly adding barrels to its discovered resources since 2015 catapulting the country to the number three position for proven oil reserves in the Latin America-Caribbean region. Crude oil reserves in Venezuela amounted to nearly...
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Stabroek Block crude gives Guyana strategic advantage over global peers, says energy expert

OilNOW -
The vast crude reservoirs found at the Stabroek Block offshore Guyana, home to over nine billion barrels of oil equivalent discovered since 2015, consist of light, sweet, high-quality oil-bearing sand, making it easier to extract and refine with less...
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Oil price hits multi-year high bolstered by OPEC+ production restraint

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(Reuters) - Oil hit a multi-year high on Wednesday above $83 a barrel, supported by OPEC+'s refusal to ramp up production more rapidly against a backdrop of concern about tight energy supply globally. The market later unwound those gains due...
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China’s gas demand has returned stronger than before

OilNOW -
By Miaoru Huang - Research Director, APAC Gas & LNG at Wood Mackenzie After a pandemic slowdown last year, China’s demand for gas appears to have returned stronger than before. In H1 2021, China’s gas demand saw a 16% year-on-year...
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Higher natural gas prices to boost Exxon’s 3Q profits by around $700 million

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(Natural Gas Intelligence) Higher natural gas prices are predicted to boost ExxonMobil’s third quarter upstream profits by around $700 million, more than forecast for oil, the energy major said. In its 3Q2021 earnings guidance, detailed in a Securities and Exchange...
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Saipem awarded new drilling contracts in Middle East, South America

OilNOW -
Saipem has been awarded new onshore drilling contracts in the Middle East and in South America. In particular, a contract has been awarded in the United Arab Emirates with a duration of approximately 15 months. In South America, Saipem has...
News

Drivers of civil unrest in Latin America

OilNOW -
(IHS Markit) Latin American countries are gradually beginning to reopen after 18 months of coronavirus disease 2019 (COVID-19)-virus-related restrictions. Although the region is set to grow in 2021, long-run political and economic-related grievances have been exacerbated by the pandemic....
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Ali: Fighting transnational crime vital, protecting sovereignty is Guyana’s business

Guyana's President, Dr. Irfaan Ali made it clear today that protecting his country's sovereignty remains a top priority. The...

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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