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Touchstone extends lease agreements for Trinidad acreage

OilNOW -
Touchstone Exploration Inc. announced on Wednesday that it has extended the term of its Lease Operatorship Agreements (LOAs) with Heritage Petroleum Company Limited for its Coora-1, Coora-2, WD-4 and WD-8 blocks in Trinidad and Tobago, to March 31, 2021. The...
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Oil futures rise on news of decreases in inventories

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Crude oil futures ticked up during midmorning trade in Asia on December 30 as bullish data from the American Petroleum Institute (API) boosted market sentiment, even as new cases of the mutant coronavirus strain surfaced around the world, S&P...
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Guyana’s President wants countrymen in Canada to return home to invest

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President of Guyana, Dr Irfaan Ali is urging Guyanese living in Canada to return home to invest as he signaled his Government’s commitment to ensuring an enabling environment for economic prosperity. Mr. Ali made the appeal at the weekend during...
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This year was like no other for oil prices

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(Reuters) Even as global prices end the year at about $51 a barrel, near the average for 2015-2017, it masks a year of volatility. In April, U.S. crude plunged deep into negative territory and Brent dropped below $20 per...
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Oil’s brief rally fades

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(Bloomberg) A brief rally in crude oil deflated Monday as investors ignored a broader market surge that pushed equities to an all-time high and focused instead on looming new supply from OPEC+. Futures in New York were little changed in...
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Saudi Aramco makes 4 new discoveries across Kingdom

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(Arab News) Saudi Arabia state oil company Saudi Aramco has discovered four new oil and gas fields in different locations around the country, the Kingdom’s energy minister said on Sunday, according to a Saudi Press Agency report. The fields were...
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Oil prices climb higher as Trump signs aid bill

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(Reuters) - Oil prices edged higher on Monday after U.S. President Donald Trump signed a $2.3 trillion coronavirus aid and spending package, although lingering worries about near-term demand weighed on the market. Brent crude futures added 12 cents, or 0.2%,...
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Oil exports pushes Guyana’s trade balance to US$143 million in first half of 2020

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December 2019 saw the introduction of oil production in Guyana resulting in the goods trade balance moving from a deficit of US$627 million or 12.1% of GDP in the first half of 2019 to a surplus of US$143 million...
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Guyana rakes in over US$180 million from oil exports this year, 4th cargo lifted this month

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Guyana has earned over US$180 million from oil exports this year. The country lifted its fourth and final cargo for 2020 earlier this month from the Liza Destiny FPSO representing its share of oil being produced by ExxonMobil at...
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Big window of opportunity ahead for oil producers as major deficits loom

OilNOW -
Oil producers around the world, particularly in locations like Guyana, will soon have a window of opportunity as new analysis shows that 2021 could see monthly supply deficits reaching their highest level in years. Low breakeven prices and good quality...
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ExxonMobil drilling Hamlet-1 well in gas-rich southeastern Stabroek Block

ExxonMobil has started drilling the Hamlet-1 exploration well in the southeastern section of Guyana’s Stabroek Block. This area near...

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