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Exploration

Guyanese Diaspora targeted as first junior company in the world provides investor access to Canje, Kaieteur block exploration

OilNOW -
Westmount Energy Limited, a junior oil and gas company with investor interest in the highly prospective Canje and Kaieteur blocks offshore Guyana, began cross-trading on the OTCQB market in New York on Tuesday under the ticker symbol WMELF. OTCQB is...
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World could face a 200 million-barrel oil glut through May if OPEC+ increases output

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As the world is aching to put an end to a devastating 2020, oil producers are now assessing the lasting effect of the pandemic into 2021 – and in particular, the consequences of oil demand destruction to global balances....
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Local companies must move beyond ‘buying and selling’ and embrace innovation, inventiveness – Guyana President urges

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Guyana’s President, Dr Irfaan Ali has reaffirmed his Government’s commitment to ensure that local businesses are optimally involved in the oil and gas sector. The Head of State made this assertion during his address at the Guyana Oil and Gas...
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Tankers with ‘hidden identities’ shipping oil out of Venezuela even as U.S. tighten sanctions

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(Bloomberg) --Venezuela almost tripled its crude oil exports even as the U.S. continues to tighten sanctions against companies seeking to do business with its ruling regime. Exports of oil surged to more than half a million barrels a day in...
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Jail time for non-disclosure of oil revenues, Petroleum Commission with ‘independent board’, part of Guyana plans

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New oil-producing countries such as Guyana face the daunting challenge of transforming expected revenue windfalls into sustainable and inclusive economic development, notes the Inter-American Development Bank in a recent paper. Record discoveries and growing hydrocarbon reserves bring high prospects for...
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S&P Global, IHS Markit set for $44 billion merger

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S&P Global (NYSE: SPGI) and IHS Markit (NYSE: INFO) announced on Monday that they have entered into a definitive merger agreement to combine in an all-stock transaction which values IHS Markit at an enterprise value of $44 billion, including $4.8 billion of net debt....
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Guyana Oil and Gas Virtual Summit opens today

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The Guyana Oil and Gas Virtual Summit is set to open today and will run until December 3. The event is expected to place special emphasis on local content development and the increasing participation of women in Guyana’s oil...
News

Canada-Guyana Chamber set for official launch on December 4

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Guyana’s President, Dr. Irfaan Ali will deliver the keynote address at the launch of the Canada-Guyana Chamber of Commerce set to take place this Friday – December 4, at the Arthur Chung Conference Centre in Georgetown. In a press update...
News

Suriname’s bonds among the world’s worst performers in 2020, nation close to reaching deal with creditors

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(Bloomberg) Suriname is set to reach a deal with creditors as soon as this week after missing a $25 million interest payment on its bonds and officially entering default, according to three people familiar with the matter. Officials in Paramaribo...
Exploration

ExxonMobil to prioritize spending on “advantaged assets” in Guyana, USA and Brazil

OilNOW -
Following a review of its future business plans, ExxonMobil announced on Monday that it intends to prioritize near-term capital spending on advantaged assets with the highest potential future value. It said that these will include developments in Guyana and...
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Afreximbank and Suriname to launch US$5B local content facility

PARAMARIBO, Suriname — African Export-Import Bank (Afreximbank) will partner with the Government of Suriname to establish a US$5 billion...

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