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IDB paper urges caution as Guyana’s growth set to skyrocket

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The start of oil production in Guyana last year has increased the urgency with which the South American country’s institutional capacity and regulations had to be addressed, not only in oil and gas, but other sectors as well. This is...
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Shell looking to cut upstream operations by 40%

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Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power...
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US$3.6 billion part of commitment expected for Payara development this year, approval expected soon – Rystad Energy

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Global oil and gas project sanctioning is set to recover and exceed pre-Covid-19 levels from 2022, with Guyana playing a key role in pushing the industry back to gains for projects set to be approved this year, according to...
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Suriname oil discoveries estimated at 1.4 billion barrels – Rystad Energy

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Norway-based independent energy research and business intelligence company, Rystad Energy, says the three discoveries made offshore Suriname to date are estimated to contain combined oil equivalent resources of almost 1.4 billion barrels. Maka Central-1 and Sapakara West-1 were the first two...
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First Guyanese security firm attains ISO certification, looking to tap into O&G opportunities

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Through the assistance of the Center for Local Business Development (CLBD), another Guyanese firm - MMC Security Force Company - has been able to attain ISO (International Organization for Standardization) 9001:2015 certification. The company says this will better position...
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Liza 1 & 2 ‘will provide low cost energy for years to come’ – Hess CEO

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Even as governments and international oil companies pursue efforts to reduce carbon emissions on a global scale in the move towards renewable sources of energy, the Liza Phase 1 and 2 developments offshore Guyana are expected to remain highly...
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Bharrat outlines more measures for managing Guyana oil resources

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Guyana’s Minister of Natural Resources, Vickram Bharrat, has outlined a number of new policy directions for the extractive sectors including oil and gas aimed at strengthening technical capacities of the agencies that manage the new sector.   During a budget...
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Oil workers flee as third storm in month aims for U.S. offshore fields

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(Reuters) - Royal Dutch Shell halted some oil production and began evacuating workers from a U.S. Gulf of Mexico platform, the company said on Friday, as a new tropical storm flared. Beta, the 23rd named storm of the Atlantic hurricane...
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U.S, Guyana Working Group on energy and investments to be formed

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Following the signing of a Memorandum of Understanding (MoU) between U.S Secretary of State, Michael Pompeo and Guyana’s President, Dr. Mohamed Irfaan Ali, on energy and infrastructure finance and market building cooperation, a Working Group comprising representatives from the...
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“We don’t apply political pressure connected to our commercial enterprises” – US Secretary of State

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U.S. Secretary of State, Michael R. Pompeo says that the United States does not exert political pressure on countries to further the interest of American businesses operating in their territory. In an interview on Guyana’s state television channel, Pompeo said that...
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‘Business as usual’: No disruption in Guyana’s operations despite Venezuela controversy – GCCI Pres.  

Kathy Smith, President of the Georgetown Chamber of Commerce and Industry (GCCI), has made it clear that there has...

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