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Liza and Kwaskwasi are giants in the prolific Guyana-Suriname basin

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The Guyana-Suriname basin has been the subject of much discussion since US oil major ExxonMobil made its world class Liza discovery in 2015 at the prolific Stabroek Block. Appraisal drilling showed Liza contained 800 million to 1.4 billion barrels...
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Oil giants’ production cuts come to 1 million bpd as they post massive write-downs

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(Reuters) - The world’s five largest oil companies collectively cut the value of their assets by nearly $50 billion in the second quarter, and slashed production rates as the coronavirus pandemic caused a drastic fall in fuel prices and...
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Brazil doubled oil exports in July

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(MercoPress) Brazilian oil exports more than doubled in July to 8.19 million tons, compared to 3.76 million tons shipped in July 2019, according to data released by the Foreign Trade Secretariat, Secex. The volume was the second highest in 2020,...
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‘Every cent of oil money must be accounted for’ – Guyana President reaffirms at inauguration

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President of Guyana Dr Mohamed Irfaan Ali says his government will ensure transparency and accountability in the oil and gas sector, citing the phenomenal growth projections of the International Financial Institutions for the South American country this year. Dr. Ali...
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Frontera upbeat about Guyana offshore as big leads targeted for drilling

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Frontera Energy said on Thursday it is highly optimistic about newly detected drill prospects on the offshore block it shares with CGX Energy in Guyana and is eager to move ahead with drilling when analysis on a recently concluded...
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Venezuela state-oil firm looking to ship its own oil as crushing sanctions deepen

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Venezuelan state-run oil firm PDVSA has begun offering to ship its own oil, figuring in the costs in crude supply deals to help customers who have struggled to hire vessels to carry the country’s oil due to U.S. sanctions,...
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Crude oil futures edge higher

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Crude oil futures were marginally higher in mid-morning Asian trade Aug. 7 as optimism over a better-than-expected US jobs report and pledged compensation cuts by Iraq buoyed the market despite the growing COVID-19 case counts worldwide, S&P Global Platts...
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REUTERS: BP poised to sell ‘stranded assets’ even if oil prices rally

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(Reuters) - BP is preparing to sell a large chunk of its oil and gas assets even if crude prices bounce back from the COVID-19 crash because it wants to invest more in renewable energy, three sources familiar with...
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Guyana set to benefit from US$50 billion in project sanctioning spread across 10 FPSOs – Rystad Energy

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US oil major ExxonMobil is projected to expend around US$50 billion in project sanctioning over the next 10 years for its offshore development activities in Guyana, according to Norway-based energy research and business intelligence company, Rystad Energy. Of the 16...
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Suriname’s world-class discoveries expected to be developed in shortest time possible: like Guyana’s Liza – Staatsolie MD

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Suriname state oil company Staatsolie would like to see the country’s deepwater discoveries move to development in the shortest time possible, similar to the Liza discovery in Guyana which operator ExxonMobil was able to move to first oil in...
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Venezuela risks more sanctions if unlawful election is held in Essequibo this May – Greenidge 

Venezuela risks triggering even more international sanctions if it proceeds with its unlawful elections in Guyana’s Essequibo region. The...

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