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Defying U.S. sanctions, Venezuela resumes direct oil shipments to China

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(Reuters) Venezuela has resumed direct shipments of oil to China after U.S. sanctions sent the trade underground for more than a year, according to Refinitiv Eikon vessel-tracking data and internal documents from state company Petroleos de Venezuela (PDVSA). Chinese state...
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Brazil’s Petrobras strikes high-quality oil at Búzios field

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Brazil state-oil company Petrobras has made a discovery of high-quality crude at the Búzios field, in the Santos Basin. The company confirmed Tuesday the presence of “oil of excellent quality” with the drilling of the 9-BUZ-48D-RJS well. The well is...
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Scale of investments needed to develop oil fields beyond Guyana’s capabilities – Vice President

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The role of international companies in the development of Guyana’s oil and gas industry is vital if the vast hydrocarbon resources discovered off the country’s coast are to be developed. Vice President, Bharrat Jagdeo, says the objective must be...
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Shell’s massive write-down may hinder stock price recovery

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(S&P Global Platts) Royal Dutch Shell PLC is wrapping up a volatile year with caution as its fourth-quarter financial results may include a write-down that could put the company's total impairment charges for 2020 at close to $22 billion. The...
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Rapid-fire Guyana drilling in 2021 will result in heroes or zeros – Westmount Energy

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The drill campaign offshore Guyana is set to ramp up in 2021 with multiple wells being targeted across several blocks. According to Westmount Energy Limited, the drill campaigns will happen in a very compressed timeframe for its investors. The junior...
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SBM Offshore, ExxonMobil discussing extending lease durations for Guyana FPSOs

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SBM Offshore and U.S. oil major ExxonMobil are in discussions regarding the extension of the lease and operate durations for the floating production storage and offloading vessels (FPSOs) targeting oil production at the Stabroek block offshore the South American...
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Oil companies pumped US$8.1 billion into Guyana between 2015-2019 – Analyst

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Despite challenges both at the global and domestic levels, investment in Guyana’s oil and gas sector has remained robust in recent years. In fact, Americas Market Intelligence Co-Director, Arthur Deakin has pointed out that between 2015 and 2019, oil...
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Crude futures slide on news of mutant coronavirus

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(S&P Global) Crude oil futures slid during the mid-morning trade in Asia Dec. 22, as concerns over a new strain of the coronavirus remained entrenched in the market. At 11:12 am Singapore time (0312 GMT), the ICE Brent February contract...
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GE supporting Oil Field Revitalization Project in Brazil

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Sulzer Pumps UK have awarded GE Power Conversion a contract to supply the motors for the four water injection pumps which will equip a future Floating Production Storage and Offloading (FPSO) vessel. These will be very specific high power...
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Lessons learnt from gas compression issue being factored into construction of other Guyana FPSOs

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With the commissioning of the gas compression system on the Liza Destiny FPSO and reduction of flaring to pilot levels, ExxonMobil says the lessons learnt from the issue which resulted in a prolonged period of flaring are being factored...
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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