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Apache targeting 3rd Suriname well after Sapakara campaign ends

OilNOW -
Apache Corporation (NYSE, Nasdaq: APA) said on Thursday that multiple actions are being taken in response to the current oil price environment. The company reduced its 2020 capital investment plan to a range of $1.0 billion to $1.2 billion from a previous range of $1.6...
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Guyana should aim to produce 2 to 3 million barrels of oil per day ‘as quickly as possible’ – Mangal

OilNOW -
President and CEO of oilfield services company TOTALTEC, Lars Mangal, says if Guyana is to truly benefit from what he calls the closing window of opportunity due to the rise of renewable energy, oil production must be ramped up...
Exploration

Tullow to drill Suriname well in Q4 2020, remains hopeful of better-quality oil in Guyana

OilNOW -
UK-based Tullow Oil has confirmed that it will drill the Goliathberg-Voltzberg North prospect at Suriname’s Block 47 this year. The prospect lies approximately 260 kilometres off the coast of the country in 1,900 metres of water and is one of...
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Carnage in Latin America as oil plummets; coronavirus fears rise

OilNOW -
(Reuters) - Mexico's peso was set for its worst day in 3-1/2 years on Monday and Colombia's peso slumped to a record low as the currencies of major crude oil exporters were hammered after oil lost a third of its value. Oil...
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Exxon’s giant Hammerhead project will push Guyana production to three-quarter million bpd milestone

OilNOW -
ExxonMobil’s 4th proposed development project offshore the South American country of Guyana will produce approximately 150,000 - 190,000 barrels of oil per day (bpd), pushing total production at the Stabroek block to 750,000 bpd. This latest development, once approved,...
Exploration

Oil Field Service companies under threat as E&P budgets face massive cuts

OilNOW -
The total capital and operational expenditure of exploration and production companies (E&Ps) is now likely to be cut by $100 billion in 2020 and another $150 billion in 2021 if oil prices remain at a $30 level, a Rystad...
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Guyana President confident of peaceful resolution to elections impasse

OilNOW -
Guyana’s President David Granger on Monday said he has acted in accordance with the country’s constitution and laws as results from the March 2, 2020 elections remain pending amid claims of electoral fraud. “I assure the nation that, at all...
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US$20 oil could be coming – Goldman Sachs warns

OilNOW -
OPEC and Russia have started an oil price war that could push crude into the $20s, according to Goldman Sachs Group Inc., as reported by Bloomberg on Sunday. Brent crude may dip as low as $20 a barrel, testing the levels at which some producers...
News

Oil crashes to lowest since Guyana began production

OilNOW -
When oil production began at the 120,000 bpd Liza Phase 1 Development offshore Guyana on December 20, Brent was trading at US$66.14 per barrel. Now, less than three months later, the price has collapsed to US$36.98. In one of the...
News

European stocks plunge into bear market as oil crashes

OilNOW -
(Reuters) - European shares slumped across the board on Monday, taking the benchmark STOXX 600 into bear market territory as a lock-down of northern Italy due to the coronavirus outbreak and a 30% plunge in oil prices amplified fears...
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Ali names 25-member cabinet; Vickram Bharrat back at oil ministry

President Irfaan Ali of Guyana unveiled 25 ministerial Cabinet appointees on Saturday evening, as the government embarks on its...

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