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Future oil discoveries at Stabroek could run into billions of barrels

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Hess Corporation, a 30 percent stakeholder in the prolific Stabroek Block offshore Guyana, believes more mega oil deposits are still to be found in the 6.6 million-acre block. “Gross discovered recoverable resources on the block are estimated to be more...
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Tullow confirms 3-well Guyana campaign

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UK-based Tullow Oil on Thursday confirmed its three-well exploration programme in the South American country of Guyana where US oil major ExxonMobil has already found more than 5.5 billion barrels of oil equivalent in the adjacent block. Tullow plans to...
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CNOOC releases operations report; Guyana tops company’s discoveries

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CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) today announced its key operational statistics for the first quarter of 2019. The Company achieved a total net production of 120.1 million barrels of oil equivalent (“BOE”) for the first...
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Brazil government publishes additional rules regarding massive oil auction

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(Reuters) - Brazil’s government laid out on Wednesday some additional terms regarding a massive oil auction scheduled for later this year, in which it will sell off an oil-producing zone known as the transfer-of-rights area. In an official bulletin, the...
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Hess reports net income of $32M as Guyana oil reserves soar

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Hess Corporation (NYSE: HES) today reported net income of $32 million, or $0.09 per common share, in the first quarter of 2019, compared to a net loss of $106 million, or $0.38 per common share, in the first quarter...
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ExxonMobil looking to sanction 2 more developments in Guyana this year

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As Guyana moves closer to producing its first barrel of oil from the Liza Phase 1 Development project, ExxonMobil is looking to make its Final Investment Decision on two more developments offshore the South American country this year. The company...
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Exxon adds millions of acres to Namibia assets; exploration targeted for 2019

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ExxonMobil said Wednesday it will increase its exploration acreage in Namibia with the addition of approximately 7 million net acres (28,000 square kilometers) following the signing of an agreement with the government of Namibia and the National Petroleum Corporation...
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Occidental makes ‘superior proposal’ for Anadarko’s acquisition

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Occidental Petroleum Corporation has made an offer to acquire American oil company Anadarko for $38 billion, bettering Chevron which offered $33 billion. Occidental said in a press release on April 24, 2019 that it delivered a letter to the Board...
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Petrotrin rakes in 1.6 billion TT dollars operating profit in last year of service

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Trinidad and Tobago State-owned oil company Petrotrin made an operating profit of TT$1.67 billion (US$250.28 million) during its last year in existence. According to a report published by CNC3, this was revealed in unaudited figures that the company’s successor, Trinidad Petroleum...
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Ramps Logistics secures full integrated contract with Tullow for Guyana drill campaign

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Ramps Logistics has secured a fully integrated cross-border logistics contract inclusive of shore base provision and management, marine agency, personnel logistics, freight forwarding and customs brokerage, with UK-based Tullow Oil for its upcoming Guyana drill campaign. Further to this, a...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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