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Low Indian demand offsets oil’s recovery

OilNOW -
(Bloomberg) Oil prices dipped as traders weighed weaker fuel demand in India against optimism over the global economic recovery from the coronavirus pandemic. Brent crude fell 0.6% to about $66.50 a barrel in Asian trading. Sales of gasoline in India were the...
News

Wales to be like Point Lisas but a little bit more eco-friendly – VP Jagdeo

OilNOW -
The Guyana government’s highly anticipated US$900M gas project is expected to pave the way for a massive industrial park to be housed at Wales. According to Vice President, Dr. Bharrat Jagdeo, the Wales development will have similar characteristics to...
News

Exxon expects ‘continued and steady progress’ in Guyana’s multi-billion-barrel basin

OilNOW -
As the global oil and gas industry continues to recover from the impact of the pandemic, ExxonMobil has reported that its production volumes are rising from 2020 levels, and for the first quarter of this year, output at the...
News

EPA organizing public hearing into appeals over oil and gas waste treatment facility

OilNOW -
The Environmental Protection Agency (EPA) in Guyana says the Environmental Assessment Board (EAB) will be conducting a public hearing on Monday, May 10, at the Soesdyke/Huist’ Coverden Neighbourhood Democratic Council into appeals submitted against the development of an oil and...
News

Suriname official encourages collaboration in oil spill prevention and response

OilNOW -
As oil and gas operations offshore Guyana and Suriname intensify in the Guyana-Suriname Basin, the importance of collaboration between the two countries in preventing and responding to oil spills has been emphasised by Suriname’s Minister of Natural Resources, David...
News

Exxon puts $2.7 billion in earnings on the books for first quarter

OilNOW -
U.S. oil major Exxon Mobil Corporation today announced estimated first quarter 2021 earnings of $2.7 billion, compared to a loss of $610 million in the first quarter of 2020. Results included unfavorable identified items of $31 million, the company...
News

Guyana will be looking to sell oil blocks to highest bidders, country could retain some acreage

OilNOW -
Guyana’s President Dr. Irfaan Ali confirmed this week that an entirely new system for the allocation of oil blocks will soon be used, signaling the government will move away from direct one-on-one negotiations with International Oil Companies (IOC) and...
News

Designs under review for gas-to-shore plant in Guyana

OilNOW -
As the Irfaan Ali administration goes full throttle with the proposed Wales gas-to-shore project in Guyana, plans are now under review to determine what type of power plant will be used. United Kingdom Petroleum Expert, Simon Shaw who now serves...
News

Competitors for oil and gas contracts are shrewd, Guyanese companies must learn to adapt – President Ali urges

OilNOW -
Guyana’s Head of State, Dr. Irfaan Ali disclosed on Wednesday that local content provisions will be put in place to ensure competitive services provided by Guyanese will be given priority by oil companies. During his latest engagement with reporters, President...
Exploration

Multiple wells under drill bit at Stabroek Block as explorers look to identify 5th and 6th developments

OilNOW -
The planned exploration and appraisal drilling campaigns offshore Guyana are now in high gear with forays set to start and others ongoing at multiple wells in the 6.6 million acres Stabroek Block. OilNOW understands that the Stabroek Block exploration programme...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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