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Transnational oil companies looking to steal ‘Venezuela’s oil’ – Maduro claims in TeleSur report

OilNOW -
Venezuela’s President Nicolas Maduro has signed a presidential decree setting the country's maritime and territorial borders, TeleSur said in a report on Friday, noting that the move is to protect national jurisdiction rights, especially on the ‘disputed’ Essequibo territory. The Venezuela-based...
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Government welcomes start of Canje block campaign, Exxon expects to be on site for several weeks

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The Government of Guyana has welcomed the start of a new drill campaign off the country’s coast at the 4,800 sq km Canje block, which got underway on December 31. Natural Resources Minister Vickram Bharrat said exploration activity in this...
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Legal team amending Petroleum Commission bill

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The Legal Department of Guyana’s Ministry of Natural Resources is currently examining the Petroleum Commission bill to include several changes that were suggested by the new government. This disclosure was made by Attorney General and Minister of Legal Affairs, Anil...
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New Apache holding company will acquire Suriname, Dominican Republic subsidiaries

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Apache Corporation (Nasdaq: APA) said on Monday that its Board of Directors has authorized the company to create a holding company structure. Upon its formation, APA Corporation, the new holding company, will replace Apache Corporation as the public company...
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Brazil’s Petrobras produced record 2.28 million bpd in 2020

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Brazil’s state-run oil company Petrolero Brasileiro SA produced a record 2.28 million barrels of oil per day on average in 2020, according to a securities filing on Thursday, Reuters reported. The combined oil and natural gas output of Petrobras, as...
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“Everybody is looking now for ‘sweet crude’ and we are in the market for that” – Guyana’s VP

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Guyana’s Vice President, Dr. Bharrat Jagdeo has affirmed that Government intends to take full advantage of its reserves of ‘light sweet crude’, which are expected to remain highly competitive on the world market in the coming years, even as...
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Brent climbs above US$54 as crude hits 11-month high

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(S&P Global) Crude oil futures settled at 11-month highs on Wednesday after a larger-than-expected US crude inventory draw tightened supply outlooks and prospects for more stimulus funding increased as Democrats appeared poised to take control of the US Senate. NYMEX...
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Bulletwood is ExxonMobil’s second attempt at hitting pay outside of prolific Stabroek block

OilNOW -
The 6.6 million acres Stabroek block has been proven to have a working hydrocarbon system across different play types, delivering upwards of 9 billion barrels of oil equivalent since 2015. The 18 discoveries made by ExxonMobil out of 20...
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Activists fail in bid to have court stop drill campaign in The Bahamas

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The drilling of the Perseverance #1 well in The Bahamas will continue following a decision of the court not to grant any orders that would halt the campaign. Bahamas Petroleum Company (BPC) said on Wednesday a timetable for further hearings...
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Traders accelerate oil sales from floating storage

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(Reuters) - Traders have accelerated crude oil sales from floating storage in December to meet higher demand in Asia as the region’s refineries throttled up for peak winter consumption, trade sources and analysts said. The drop in excess global stored...
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Guyana’s power demand hits record high at 221.3 megawatts 

Guyana has recorded its highest-ever electricity demand this year, with peak consumption reaching 221.3 megawatts (MW) in September. The...

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