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ExxonMobil eyes breakthrough technology for reducing emissions

OilNOW -
American multinational ExxonMobil has been undertaking research for breakthrough technology that will aid significantly in reducing emissions in certain high polluting sectors. According to the oil giant’s latest Carbon and Energy Summary, it has been focusing technology on three distinct,...
News

Extra oil cuts from deliquent OPEC+ members could shrink the market by 1 million b/d

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(S&P Global) OPEC+ crude oil production could fall by about 1 million b/d in July and August from May levels, based on plans submitted by Iraq and Kazakhstan to institute deeper output cuts to make up for violating their...
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Petrobras puts shallow-water fields in northeastern Brazil on the block

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(Reuters) - Brazilian state-run oil firm Petrobras has kicked off a sale process for its Atum, Curima, Espada and Xareu offshore oilfields, the company said on Friday. In a securities filing, Petroleo Brasileiro SA, as the company is formally known,...
News

Striking balance between climate, energy literacy is key – Stabroek Block co-venturer

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Signatories to the Paris Agreement are expected to significantly reduce greenhouse gas emissions so that global temperatures can be kept below two degrees celsius by 2040 through to 2050. But the latest forecast of the International Energy Agency (IEA)...
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Energy demand takes huge dive

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The coronavirus pandemic is expected to cut global energy demand by 6% overall in 2020 compared with 2019, the International Energy Agency has said. By sector, oil demand is likely to drop by 8% year on year in 2020, while...
Exploration

World oil resources take 282 billion barrels hit

OilNOW -
The 2020 release of Rystad Energy’s annual global energy outlook reveals that the COVID-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas and as a result reducing the world’s recoverable oil...
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Hess hedged more than 80% of its oil for 2020, says Guyana remains key investment as production climbs to 75,000 bpd

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Since the onset of the COVID-9 pandemic, Hess Corporation’s response has been hinged on three key principles—preserve cash, preserve capability, and preserve the long-term value of its assets. In terms of preserving cash, the company’s Chief Executive Officer (CEO),...
News

Guyana will attract more investment if border controversy is settled

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(South Florida Caribbean News) The Guyana/Venezuela Border controversy needs to be resolved soonest so that Guyana can further exploit the resources of its maritime space and landmass which is being claimed by Venezuela. This was the view shared by three...
News

Snapshot – world in coronavirus-induced recession

OilNOW -
COVID-19 has now spread to 190 countries with more than 8 million confirmed cases and more than 430,000 deaths, GlobalData said in its latest virus-tracking report. The highest official case counts are in the US, Brazil, Russia, India, UK,...
News

Oil from US-sanctioned Venezuela regime lines up off China

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(Bloomberg) -- Venezuela’s oil exports have collapsed since the U.S. placed sanctions on its state producer, but some crude from the OPEC member is still making its way to buyers in Asia. Officially, China hasn’t imported any Venezuelan crude since...
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Noble launches pre-qualification for offshore scaffolding services in Guyana

Noble Finance Company, an affiliate of Noble Corporation, has issued a Request for Information (RFI) to pre-qualify companies capable...

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