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Liza Destiny topsides in place; 1st oil possible this year – Hess

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Hess Corporation says work on the 120,000 bpd Liza Destiny is almost complete with commissioning activities underway. The company also said there is a possibility of first oil coming by year-end from the Liza Phase 1 Development project. Speaking to...
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US Ambassador plugs infrastructure development as Guyana heads to first oil

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One of the areas that Guyana should look at closely, in keeping with the demands of a new oil and gas economy, is the country’s infrastructural development agenda. This was the advice given by US Ambassador to Guyana, Sarah-Ann...
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Exxon earns $2.4 billion in Q1 2019

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Exxon Mobil Corporation today announced estimated first quarter 2019 earnings of $2.4 billion, or $0.55 per share assuming dilution, compared with $4.7 billion a year earlier. Cash flow from operations and asset sales was $8.4 billion, including proceeds associated...
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Guyana hits milestone with submission of 1st EITI report

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Guyana’s first Extractive Industries Transparency Initiative (EITI) Annual Report has been successfully submitted to the International Secretariat on the submission deadline of April 25, 2019; a milestone in Guyana’s march to becoming a fully compliant member of the Norway-based...
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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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Jagdeo says LNG remains a priority as Guyana moves to monetize its gas resources

Guyana’s Vice President Bharrat Jagdeo has reaffirmed that liquefied natural gas (LNG) remains a key option in Guyana’s plan...

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