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BP detects 1 billion barrels of oil at Thunder Horse field

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British energy company BP said Tuesday it has found 1 billion barrels of crude at the Thunder Horse field in the Gulf of Mexico after analyzing the results of breakthrough seismic imaging.  Elsewhere, two new discoveries near the Na Kika...
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US$65M expended with more than 300 local suppliers during 2018 from Exxon operations in Guyana

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ExxonMobil said in an update on Monday that throughout its activities in Guyana, the company continues to emphasize and promote direct benefits to local business. “More than 50 percent of the Guyana affiliate’s employees, contractors and subcontractors are Guyanese, a...
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Liza Phase 1 moves into ‘peak execution’ – ExxonMobil

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ExxonMobil said on Monday that work on the Liza Phase 1 development offshore Guyana is progressing and has moved into its peak execution phase ahead of expected startup in early 2020. “Drilling of development wells in the Liza field is...
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Oversupply, faltering growth to weigh on oil prices in 2019: Reuters poll

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(Reuters) - Crude oil prices look likely to trade below $70 per barrel in 2019 as surplus production, much of it from the United States, and slowing economic growth undermine OPEC-led efforts to shore up the market, a Reuters...
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Fund to manage oil revenue gets green light in Guyana

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The long awaited 2018 Natural Resource Fund bill was passed in the National Assembly on Thursday evening. The bill, which saw minor amendments, was passed in the absence of the opposition, People’s Progressive Party/Civic. The opposition had earlier taken a decision...
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Venezuela urged to back off as Guyana vows to continue offshore exploration, development

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Guyana’s Foreign Minister, Carl Greenidge, said on Thursday that the oil-rich South American country has no intention of slowing down offshore exploration and development activities and reiterated that companies operating in the Stabroek Block will continue to execute their...
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Venezuela made “reckless attempt” to land chopper on ExxonMobil survey vessel – Guyana Foreign Minister

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In what is being described as a reckless and illegal act, Foreign Minister of Guyana, Carl Greenidge, disclosed on Thursday that the Venezuelan navy attempted to land a chopper on a survey vessel contracted by US oil major ExxonMobil,...
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Venezuela oil exports slump to a 28-year low

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Venezuela, once Latin America’s largest oil exporter, ended 2018 with a whimper as overseas sales dropped to the lowest in nearly three decades, Bloomberg said in a January 2 report. Home to the world’s biggest crude reserves, the country exported...
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Elections timeline remain in limbo in oil-rich Guyana

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Speaker of the National Assembly in Guyana, Dr Barton Scotland has chosen not to reverse his position on the vote of no-confidence which was carried on December 21, 2018, effectively bringing the life of the APNU+AFC coalition government to...
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CNOOC Limited’s Egina Field commences production

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CNOOC Limited, a 25 percent stakeholder in Guyana’s prolific offshore Stabroek Block along with ExxonMobil (45 percent) and HESS (30 percent), announced on January 2, 2019 that its Egina Field, located in deepwater offshore Nigeria, has commenced production. The company...
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Stena Drilling invests over US$85M in Guyana, employs 157 locals

Since 2016, Stena Drilling has contributed significantly to Guyana’s economy through local investments and job creation. Stena DrillMAX en route...

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