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Deep-water feeding frenzy in South America as Brazil and Guyana lead enthusiasm

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Good reservoir quality and improved upstream terms have combined with cost declines and firmer oil prices to spark enthusiasm for deep offshore oil exploration in South America. According to a report in the Petroleum Economist, analysts say that while the...
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Exxon adds more than 71,500 net acres to its Brazil portfolio

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ExxonMobil has increased its holdings in Brazil’s pre-salt basins after it won the Titã exploration block with co-venturer Qatar Petroleum during Brazil’s 5th pre-salt bid round. The block awarded added more than 71,500 net acres to the ExxonMobil portfolio, expanding the...
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Hughes, Fields and Stoby targets oil and gas with opening of Houston office

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Guyana’s exciting move into the Oil and Gas sector records another significant step with the historic opening of the law office of Hughes, Fields and Stoby USA PLLC in Houston, Texas. The official launch of its overseas presence took place...
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Mexico’s next president will honor existing oil contracts -official

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(Reuters) - Mexico’s president-elect, Andres Manuel Lopez Obrador, assured private energy executives in a closed-door meeting on Thursday their contracts will not be canceled if they meet existing terms, the head of the country’s main oil producers’ association said. Lopez...
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‘We must put up a good fight to cash in on O&G opportunities’ – Guyana Business Minister

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Guyana’s Minister of Business, Dominic Gaskin, said if the country wants to maximize the full value of local content from the oil and gas sector then it needs to build local capacity. The Minister was at the time delivering an...
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“We have to take energy seriously” – Guyana President tells residents in remote border village

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Villagers in the remote Rupununi - an area located in the south-west of Guyana bordering the Brazilian Amazon - are being urged to harness the power of the sun to push economic diversity. The charge was given by President...
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Brazil’s Petrobras to pay $853.2 million in penalties

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(AP) — Brazil's state oil company Petrobras said Thursday it had agreed to pay more than $850 million in penalties for bookkeeping violations related to bribes to Brazilian politicians and political parties. Petrobras said in a securities filing that the...
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CNOOC considering selling US oil assets as Guyana discoveries redefine company’s perspective

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China’s CNOOC which owns a 25 percent interest in the Stabroek Block offshore Guyana is considering selling parts of its U.S. oil assets in the Gulf of Mexico, Reuters reported a company spokesperson as saying on Thursday.  The spokesperson...
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Total sees $100 oil coming and says it may not be a good thing

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(Bloomberg) Total SA is among a growing chorus that sees $100 oil on the horizon. But the French energy giant isn’t thrilled about it. Chief Executive Officer Patrick Pouyanne sees supportive elements, such as looming sanctions on Iran and disruptions in...
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World Bank funding to help expedite ExxonMobil cost recovery audit

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Guyana’s Opposition Leader, Bharrat Jagdeo, had suggested that the Government should consider hiring external experts to audit the pre-production cost incurred by ExxonMobil in its operations offshore, particularly since the Guyana Revenue Authority (GRA) is already overburdened with work. In...
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SLB secures multi-region deepwater contracts from Shell

Shell has awarded major drilling contracts to SLB, a global energy technology company. These contracts aim to support energy...

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