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Exxon lucky-run in Guyana hits snag at Sorubim; dry hole a reminder of risk in E&P

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US oil major ExxonMobil’s unprecedented string of oil discoveries off the Guyana coast has hit a snag with no oil being found at the Sorubim-1 well where the Noble Bob Douglas has been drilling in recent weeks. Vice President of...
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‘Exxon told us to maximize use of Guyanese employees, contractors’ – Lockwood

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Majority Guyanese-owned port facility – Guyana Shorebase Inc. (GYSB) says it has been maximizing the use of local content in its operations, which is in keeping with a request from ExxonMobil for the company to utilize as much services...
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Guyana begins to cash in ExxonMobil signing bonus to cover legal fees at ICJ

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Guyana has begun the preliminary process in order to cycle funds from an US$18M signing bonus received from ExxonMobil in 2016, to defend its border controversy case at the International Court of Justice (ICJ). The move is documented in a...
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Hess to acquire 15% interest in Kaieteur Block offshore Guyana

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Hess Corporation (NYSE: HES) said on Thursday that its subsidiary, Hess Guyana (Block B) Exploration Limited, had reached agreement with Esso Exploration and Production Guyana Limited (ExxonMobil) to acquire a 15 percent participating interest in the Kaieteur Block, offshore Guyana. The Cooperative...
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Guyana trumpets O&G preparedness as ExxonMobil local content support gains steam

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ExxonMobil Guyana's Centre for Local Business Development (CLBD) on Wednesday marked its one year milestone with a well-attended reception at its South Road, Georgetown headquarters. The country's Minister of Business, Dominic Gaskin and ExxonMobil Guyana Country Manager, Rod Henson were...
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Record 800+ Guyanese companies register on Exxon supplier portal, over 1700 persons trained

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In the short time span of around 12 months, a record number of Guyanese companies have registered on the ExxonMobil’s Centre for Local Business Development’s (CLBD) Supplier Registration Portal while more than 1700 persons have benefited from training and...
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Guyana sees need to boost legal framework with arrival of O&G

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Chief legal advisor to the Government of Guyana, Attorney General Basil Williams, on Wednesday highlighted the need for the South American country to strengthen its legal framework in anticipation of a spike in investments fueled by the emerging oil...
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Hess reports US$106M net loss; Guyana remains shining light in company’s outlook

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Hess Corporation (NYSE: HES) on Wednesday reported a net loss of $106 million, or $0.38 per common share, in the first quarter of 2018, compared to a net loss of $324 million, or $1.07 per common share, in the...
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GRA head says no tax evasion by oil companies under his watch

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Commissioner General of the Guyana Revenue Authority Godfrey Statia told reporters at a press conference on Tuesday that oil companies would not be allowed to evade paying taxes under his watch. The head of the South American country’s tax body...
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Liza SURF contractor Saipem posts loss of $2.4M in Q1 2018

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ExxonMobil Guyana Tier 1 contractor Saipem has narrowed its losses to $2.4m for the first quarter of 2018. The Italian oil and gas company's Q1 2018 loss marks an improved financial performance, following the $331m loss reported in Q4 2017. However, the Milan-based firm, operational in Saudi...
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Guyana continues to defy expectations, says U.S. market intelligence firm

Americas Market Intelligence (AMI) has once again placed Guyana in a category of its own, labeling it as “great”...

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