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ExxonMobil to increase Permian output to 1 million barrels per day by 2024

OilNOW -
ExxonMobil said on Tuesday it has revised its Permian Basin growth plans to produce more than 1 million oil-equivalent barrels per day by as early as 2024 – an increase of nearly 80 percent and a significant acceleration of value. The...
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Saipem ramping up work ahead of Liza Destiny arrival; in-country fabrication planned for Phase 2

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Over the next few months Italian oil and gas contractor Saipem will be ramping-up operations offshore Guyana as preparatory work gets underway ahead of the arrival of the Liza Destiny in Q3. This includes a survey of the sea floor...
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Why billions of barrels of oil go untapped in Brazil

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(Bloomberg) There’s enough as-yet-unassigned oil under the Atlantic Ocean off Brazil’s Rio de Janeiro to keep the entire world running for almost six months. So why is the crude just sitting there? A contract dispute between oil giant Petrobras...
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Canadian Dollar slumps on ‘Gruesome’ GDP and sliding oil prices

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(Bloomberg) Canada’s dollar dived Friday fgollowing worse-than-anticipated gross domestic product figures and traders pared their expectations for interest-rate hikes from the Bank of Canada. The loonie, which has been one of the best-performing Group-of-10 currencies this year, weakened as much...
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ExxonMobil makes natural gas discovery offshore Cyprus

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ExxonMobil on Thursday said it has made a natural gas discovery offshore Cyprus in the Eastern Mediterranean at the Glaucus-1 well wrapping up what has been a good month with two major discoveries made earlier in February in the...
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Political discord hindering Guyana’s preparations for oil – Nigel Hughes

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Guyanese Attorney–At–Law, Nigel Hughes, believes that uncertainty surrounding the current political climate in the South American country following the December 21 passage of a no-confidence motion against the government is hindering its ability to effectively prepare for the start...
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Guyana business minister plugs investment at Baker Institute forum

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Guyana’s Minister of Business, Dominic Gaskin, told a forum in the United States on Tuesday that the South American country is looking to chart its own course for economic prosperity and welcomes foreign investment that advances this agenda. Mr. Gaskin...
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EITI assesses implementation in eight countries; TT acknowledged for ‘dynamic platform’

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As Guyana prepares to submit its first report to the Extractive Industries Transparency Initiative (EITI), the organization said on Wednesday that its Board assessed the status of eight implementing countries, including Ethiopia, Ghana, Guinea, Malawi, Mauritania, Nigeria, Norway and...
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Possible oil reserves upsized for Jamaica

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The probability of finding oil offshore Jamaica improved to a one-in-five chance of success, based on an independent report utilising 3D data, the Jamaica Gleaner reported on Wednesday. The 2019 report also upsized the 2017 baseline estimates of the quantity...
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Kazakh leader orders $3.6 billion pre-election oil fund draw-down

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ASTANA (Reuters) - Kazakh President Nursultan Nazarbayev ordered his government on Wednesday to tap the country’s rainy-day fund for $3.6 billion in order to boost public sector salaries and social aid payouts and develop housing and infrastructure. Nazarbayev, who has...
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As Errea Wittu FPSO takes shape, MODEC deepens roots in Guyana with permanent office 

Merely days after the Errea Wittu FPSO arrived in Singapore for the next stage of construction, builder MODEC marked...

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