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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

OilNOW -
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

OilNOW -
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...
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Canada-Guyana Chamber set for official launch on December 4

OilNOW -
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...
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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

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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...
Exploration

Eco Atlantic increases acreage in Namibia, remains focused on world class Guyana basin

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Eco (Atlantic) Oil & Gas Ltd. said Monday it has successfully negotiated the reissuance of four licences in the Walvis Basin, offshore Namibia conditional to customary final government signature. The company was awarded four new Petroleum Exploration Licenses (PEL) on its existing offshore blocks,...
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Oil companies drill where data is most promising, but Liza and Tanager show results could vary

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Back in 2015, ExxonMobil made the decision to begin drilling for oil in Guyana at Liza-1 since this prospect was the biggest and best, based on data analysed by the company. Several elements need to line up in order to...
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Saipem pledges support for Women Empowerment Principles

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Italian multinational oilfield services company Saipem has signed the declaration of support for the Women Empowerment Principles (WEP) and the Manifesto for female employment of the Valore D association. The company, a prime contractor for ExxonMobil’s Stabroek block developments in...
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Tourism minister calls for cultural shift, stronger service standards to power Guyana’s next economic phase

Tourism, Industry, and Commerce Minister Susan Rodrigues has called for a national cultural transformation to align with Guyana’s rapid...

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