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Suriname has long history of respecting oil agreements – Staatsolie CEO

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Staatsolie Maatschappij Suriname N.V Managing Director and Chief Executive Officer, Rudolf Elias, says the Dutch-speaking South American country has a long history of respecting agreements with International Oil Companies (IOCs) and this continues to play a key role in...
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Why is Exxon drilling, testing a 5th well in the Liza field?

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Drilling and testing of a 5th well in the giant Liza field offshore Guyana is part of a process to accumulate vital data that would aid in the design of a Phase 2 development project set to get underway...
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Oil faces month of mayhem as geopolitical risks proliferate

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(Bloomberg) -- Plunging Venezuelan crude production; sanctions disrupting Iranian oil exports; Saudi Arabia pushing for even higher prices; North Korea peace talks -- the coming weeks bring an abundance of risks for the oil market. The geopolitical premium has already...
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Conoco moves to take over Venezuelan PDVSA’s Caribbean assets

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(Reuters) - U.S. oil firm ConocoPhillips (COP.N) has moved to take Caribbean assets of Venezuela’s state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three...
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Liza 5 well test underway; Long Tail next stop for Stena drillship

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US oil major ExxonMobil is set to acquire more data for analysis from the Liza 5 appraisal well in order to broaden its knowledge of the greater Liza resource offshore Guyana. “The Stena Carron is currently drilling Liza 5 appraisal...
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Guyana expected to become less dependent on donor funds when oil begins to flow

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Guyana is less than two years away from becoming a major oil producing economy and Chief Executive Officer of the CARICOM Development Fund (CDF), Rodinald Soomer, said the imminent revenue expected from this development could change the South American country’s...
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Record oil output from US, Brazil, Canada and Norway to keep global markets well supplied

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Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to...
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Robust systems to fight financial crimes, corruption vital in oil producing countries

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It is absolutely critical that countries in the region put robust systems in place to protect them from acts of financial crimes and corruption. This was the hallmark of the just concluded Regional Judges and Prosecutors workshop, organized by...
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In pursuit of oil Guyana remains committed to going green

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As Guyana gears up to become a major oil producer in the region the South American country’s commitment to a green economy can be maintained by pursuing a ‘regenerative model’ of development according to Secretary General of the Commonwealth...
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Guyana on BP’s radar as oil major looks to expand presence in region

OilNOW -
Oil major BP Plc is closely following oil auctions in Brazil, Mexico and other potential offshore investment opportunities in Guyana, Colombia and Suriname in a bid to expand its presence in the region. Rising crude prices and energy reforms in...
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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,...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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