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Occidental completes US$55B acquisition of Anadarko

OilNOW -
Occidental Petroleum Corporation (NYSE: OXY) on Thursday announced the successful completion of its acquisition of Anadarko Petroleum Corporation (NYSE: APC) in a transaction valued at $55 billion, including the assumption of Anadarko’s debt. "With Anadarko’s world-class asset portfolio now officially...
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Guyana’s total estimated income from Stabroek block jumps to US$117.5 billion – Rystad Energy

OilNOW -
Guyana’s total estimated income from the 13 discoveries made so far by ExxonMobil at the Stabroek Block is now projected at 117.5 billion US dollars which is equivalent to more than 24 trillion Guyana dollars. This massive windfall for...
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SBM Offshore Q2 earnings increase 19% as Liza FPSO projects progress

OilNOW -
Dutch floater specialist SBM Offshore’s directional revenue as of June 30, 2019 totaled US$965 million, representing an increase of US$157 million or 19% compared with the same period last year. This increase was driven by a higher activity level...
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Data consortiums signal the future of oil and gas

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The energy industry has a data problem: Every major exploration and production company collects petabytes of data, but their analysis is limited to their own petabytes. Companies need access to industry-wide data to gain accurate insight into the sector,...
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No award of oil blocks before elections

OilNOW -
There can be no award of any oil blocks before the next General Election is held and a government is appointed. This is according to Guyana’s Minister of Legal Affairs and Attorney General, Basil Williams. Williams iterated this on Monday,...
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Peterson lands Repsol deal for Guyana wildcat

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(Upstream) Repsol has handed UK player Peterson a deal to be the main logistics contractor for the Spanish major’s upcoming wildcat on the Kanuku block off Guyana. Peterson will provide Repsol with integrated supply base operations management, logistics and pipeyard...
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Chevron Venezuela output continues decline

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(Upstream) Chevron has continued to see a decline in production from its assets in Venezuela as the company acknowledged ongoing challenges in continuing to operate in the turbulent South American country. The US supermajor has continued to operate in Venezuela...
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O&G talks taken to Guyana’s Essequibo region

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Guyanese in the Essequibo region were on Friday July 26 given an opportunity to join in the creation of a process which would allow citizens to exercise influence over the ways in which Guyana’s oil and gas sector would...
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Trump administration passes sweeping economic sanctions against Venezuela

OilNOW -
While the Trump administration defended its most recent round of sanctions against the government of Venezuela, President Nicolas Maduro’s foreign ministry denounced the order calling it "another serious aggression by the Trump administration through arbitrary economic terrorism against the Venezuelan...
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Oil Revenue: Finance Minister supports lowering taxes, assistance for the vulnerable

OilNOW -
Guyana’s Minister of Finance, Winston Jordan, believes a structured approach must be adopted to ensure Guyanese can benefit meaningfully from oil revenue. Mr. Jordan favours assistance for vulnerable groups but is not in support of random cash payouts to...
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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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