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Santokhi is new Suriname President

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(StarNieuws) Chan Santokhi has been elected President of the Republic of Suriname and Ronnie Brunswijk as Vice President. The meeting was attended by all political groups, so that more than 34 members were present in the room. Although there...
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Crucial aspects of Guyana’s oil & gas development on back burner as election impasse drags on

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The South American country of Guyana entered 2020 with great expectations for a bright future as oil production got underway last December and an upgrade in the offshore Stabroek Block resource estimate was announced in January along with the...
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Apache extends Noble Sam Croft contract for Suriname campaign

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Apache Corporation, operator at Block 58 offshore Suriname, has extended its contract for the Noble Sam Croft drillship by executing an option for another well. The contract initially expired in June, prior to which the Sam Croft made two discoveries...
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Brazil, Angola take bigger share of Chinese oil market

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China imported crude oil at the rate of 11.93 million barrels per day last month, 25.4 percent faster than a year earlier and the fastest rate in any month on record, the OilX Research website says. OilX Research says the...
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Bristow observes 1,000 days accident-free

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Nine bases throughout the Americas reached the critical milestone of a 1,000 days without a recordable incident on June 18, 2020: making them 1,000 days Target Zero for helicopter giant Bristow. The company said the milestone was achieved by the...
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Source bed for Guyana basin similar to those in Venezuela, Colombia and Trinidad- WoodMac

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With only 19 discoveries to date, geological experts at Wood Mackenzie posit that the Guyana basin stands as the most exciting exploration hotspot, with ExxonMobil leading the way in showcasing the basin’s outstanding prospectivity. In one of its special reports...
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Staatsolie taking ‘accelerated steps’ to prepare for offshore oil bounty

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Fresh off the historical twin oil discoveries at Block 58, Suriname state oil company Staatsolie says the oil strikes mark a change for both the company and country and it has been preparing for this for years, partly through...
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‘There is no wealth to distribute’: Venezuela poverty rate surges

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Venezuela's poverty rate surged in 2019 to levels unmatched elsewhere in Latin America as the once-prosperous oil producing nation's hyperinflationary economic collapse continued for a sixth-straight year, according to a new study. The 2019-20 National Survey of Living Conditions (ENCOVI),...
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Norway to tackle $100 billion P&A liabilities with new oilfield tech

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(Bloomberg) --North Sea nations and oil companies face costs of more than $100 billion to shut down old wells in the depleted region. Researchers in Norway believe they can cut that figure dramatically. A new technology center in Trondheim hopes...
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Iran will develop oil industry despite U.S. sanctions

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(Reuters) - Iran is determined to develop its oil industry in spite of U.S. sanctions imposed on the country, Iranian Oil Minister Bijan Zanganeh said in a televised speech on Saturday. “We will not surrender under any circumstances ... We...
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Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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