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Oil hits $80; pipeline operators consolidate

OilNOW -
Oil prices hit $80 per barrel for the first time in more than three years on Thursday on concerns Iranian exports could fall, reducing supply in an already tightening market. Among the analysts weighing in, Boston Consulting Group’s Jamie...
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8 wells at Liza will produce more oil than Delaware Basin’s 1,400 – Hess

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Chief Executive Officer of Hess Corporation, John Hess, says when it comes to low development cost and favorable financial returns Guyana is a much better prospect than the Permian’s Delaware Basin. The CEO was at the time speaking during a...
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Guyana Opposition Leader decries state of preparedness for oil & gas

OilNOW -
Leader of the Opposition Peoples Progressive Party Civic (PPP/C) in Guyana, Bharrat Jagdeo, on Wednesday outlined a number of key legislation for the country’s emerging oil and gas industry which are yet to be finalized, pointing out that this...
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Petrobras receives new FPSO, takes loan

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Brazil’s Petrobras has received its P-67 FPSO from the China Offshore Oil Engineering Company (COOEC), international media reported Wednesday. The vessel will be remodified in Brazil towards the end of the month before being moved to the NOC’s Lula North pre-salt field. P-67 has...
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IEA warns global oil demand may suffer as crude nears $80

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Global demand for oil is likely to moderate this year, as the price of crude nears $80 a barrel and many key importing nations no longer offer consumers generous fuel subsidies, the International Energy Agency said on Wednesday. The Paris-based IEA cut...
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Guyana seeking initial US$1.7M from World Bank to help fund ‘gas to shore’ study

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Minister of Natural Resources, Raphael Trotman, has disclosed that the Government of Guyana through the Ministry of Finance has applied to the World Bank for the release of an initial 1.7 million US dollars, out of the 20 million...
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Repsol to end pursuit of oil growth in light of clean energy push

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Spanish company Repsol plans to end its pursuit of oil growth amidst a global move to transition to clean energy. This is according to a Bloomberg report published on Tuesday. According to the article, the company is the first of...
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Canadians stake out middle ground on energy issues

OilNOW -
(Oil & Gas Investor) Canadians often take centrist, middle-of-the road positions on issues and energy is no different, according to David Coletto, CEO of Abacus Data. Even in energy-rich Alberta and Saskatchewan, Canadians accept that the global energy system...
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Venezuela’s oil meltdown is getting worse

OilNOW -
A rush of creditors trying to seize assets has disrupted Venezuela’s oil exports at a time when they already are plunging Death spiral is an overused term, but it is justified when describing Venezuela’s oil industry right now. Energy consumers...
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First batch of TOTALTEC oilfield operator trainees to graduate this month

OilNOW -
The TOTALTEC Academy will have its inaugural graduation ceremony during the week of May 28, 2018 to recognize and congratulate the 20 or so pioneering graduates and to welcome and inspire the new recruits for the next scheduled Oilfield Operator Training...
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U.S. EXIM Bank President says US$526M loan to Guyana is ‘first of many deals to come’

A US$526 million loan to Guyana for its Gas-to-Energy project is the first of many deals to come, an...

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