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Kosmos Energy completes acquisition of Deep Gulf Energy

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Komos Emeergy said on Monay that it has completed the previously announced acquisition of Deep Gulf Energy, a leading deepwater company operating in the Gulf of Mexico. By acquiring DGE, Kosmos adds to its deepwater Atlantic Margin portfolio an established...
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Call for halt to oil production is ‘self-promoting stunt in pursuit of ulterior motive’ – former minister

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Debate on a myriad of issues continues in Guyana as the country gears up to become a major oil producer in the region. A former government official is describing as ‘disturbing’, a recent call for the Guyana government to...
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Guyana can go green but the world needs its oil – former BP executive

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Can a green economy co-exist with a petroleum industry? The short answer, according to Professor Gary Dirks, is yes. “There is absolutely no reason why you cannot have a green growth agenda, pursued aggressively, and be an oil producing nation...
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Schlumberger in search of office supplies for Guyana operations

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Schlumberger is ramping up its operations in the South American country of Guyana and is gearing up to begin sourcing supplies for its new drilling fluids facility currently under construction. The company is seeking a contractor to supply, deliver and...
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IEA warns of higher oil prices as Iran, Venezuela losses deepen

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The International Energy Agency warned that oil prices could break out above $80 a barrel unless other producers act to offset deepening supply losses in Iran and Venezuela, Bloomberg reports. Iranian crude exports have fallen significantly before U.S. sanctions even...
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Hurricane Florence affects oil and gas projects, facilities

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Hurricane Florence is churning over the Carolinas, knocking out power and threatening coastal flooding in a torrent that could have implications for energy trade and oil and gas construction projects in the area. S&P Global Platts on Friday noted that...
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Guyana gov’t says no illegalities or nefarious objectives guided approval of Liza Phase-1 billion-plus barrel development

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Guyana’s Ministry of Natural Resources MNR said on Friday afternoon that the decision to move ahead with the Liza Phase 1 development project – set to rake in an estimated 7 billion US dollars over its lifetime – was...
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Economic diversification must continue in order to avert oil dependence – Finance Minister

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Guyana’s Finance Minister, Winston Jordan has underscored the importance of continuing to diversify the economy as Guyana becomes an oil producing state to ensure that the nation does not develop a dependency on the oil sector. Noting that oil should...
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Stakeholders call for more public involvement in plan to manage oil revenue

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Stakeholders in Guyana want the Government to do more to educate the populace on the benefits and operationalization of the Sovereign Wealth fund, also known as the Natural Resource Fund. This was one of the main highlights at a panel...
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Total farms into Guyana’s Orinduik block; Tullow to remain operator

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French super-major Total has exercised its option to purchase a 25% working interest in the Orinduik block offshore Guyana for USD 12.5 million. This comes on the heels of partner Eco Atlantic Oil & Gas’ announcement that the block has...
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Exxon to relinquish 9% of Stabroek Block acreage

ExxonMobil will relinquish at least 9% of the vast Stabroek Block in Guyana as required by its petroleum agreement,...

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