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Guyana Opposition Leader decries state of preparedness for oil & gas

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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

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(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

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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

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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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‘Governance framework’ to ensure local content compliance

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Guyana’s second draft Local Content Policy Framework outlines the requirement of a ‘governance framework’ to ensure compliance by stakeholders in the oil and gas industry. The country’s Ministry of Natural Resources released the second draft Local Content Policy Framework on...
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Analysis: Malaysia regime change heralds risks for Southeast Asian oil and gas

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(Platts) The surprise outcome of Malaysia's historic 2018 elections has elevated risks for the oil and gas sector in Southeast Asia, stemming from the winning coalition's stance on fuel subsidies, its position on Chinese business investment and potential interference...
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Stena Drilling invests over US$85M in Guyana, employs 157 locals

Since 2016, Stena Drilling has contributed significantly to Guyana’s economy through local investments and job creation. Stena DrillMAX en route...

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