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Int’l experts say frontier countries offer ‘favourable fiscal terms’ to secure oil deals

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It is not uncommon for countries with little or no proven oil reserves to offer prospective investors favourable fiscal terms in an effort to kick-start their petroleum ambitions says the International Monetary Fund (IMF), Norway-based industry analyst, Rystad Energy...
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Sovereign Wealth Fund critical to Guyana benefiting from billions in oil revenue – Commonwealth

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The small South American country of Guyana is on the verge of receiving big money when oil from the giant Liza field begins flowing in less than two years. However, the extent to which this newfound wealth benefits the...
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Venezuela arrests two Chevron executives amid oil purge

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(Reuters) - Chevron Corp (CVX.N) said on Tuesday two of its executives were arrested in Venezuela, a rare move likely to spook foreign energy firms still operating in the OPEC nation stricken by hyperinflation, shortages and crime. Venezuelan Sebin intelligence...
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CAPEX among world’s largest O&G firms to rise to just under $500B in 2018

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(Rigzone) Capital expenditure (CAPEX) among the world's largest oil and gas companies is due to increase 11.5 percent year-on-year (y-o-y) in 2018 to just under $500 billion, according to oil and gas analysts at BMI Research. “Capital spending among the...
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Guyana to take IMF’s recommendation on petroleum taxation on board

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Guyana will be taking on board some of the recommendations made by the International Monetary Fund (IMF) recently with regards the modernizing of its petroleum fiscal regime, taxation structure and Production Sharing Agreements (PSAs). The International Financial Institution, in 2017,...
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Time will tell how successful Guyana policy framework for O&G is, Jamaica must prepare says former PM

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Former Prime Minister of Jamaica, Bruce Golding says a number of examples in the region point to mistakes that can be made by oil producing nations and while time will tell how successful Guyana is in avoiding pitfalls, Jamaica,...
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18 bidders take part in CNOOC’s LNG auction on Shanghai Gas Exchange – CNOOC official

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Eighteen bidders took part in China National Offshore Oil Corp’s (CNOOC) liquefied natural gas (LNG) auction on the Shanghai Petroleum and Gas Exchange on Wednesday, an official at the state-controlled oil company involved in the sale said. The 90,000 tonnes...
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The most promising oil and gas companies of 2018

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Analysts were bearish on Exxon's prospects for 2018. The stock spent the first few months of 2018 taking a deep dive. But looks can be deceiving. Exxon has made two big recent discoveries. First there's a huge find offshore...
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Analysts say ExxonMobil PSA in line with frontier countries worldwide

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As debate continues in the South American country of Guyana on the fiscal terms outlined in the Production Sharing Agreement (PSA) with US oil major ExxonMobil, UK-based Wood Mackenzie and Norwegian headquartered research company Rystad Energy say the agreement...
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TechnipFMC secures FPSO design contract from BP

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BP has awarded TechnipFMC the engineering design contract for the Tortue/Ahmeyim fields floating production, storage and offloading (FPSO) unit. TechnipFMC is the same company that has been awarded a contract by ExxonMobil Guyana for the engineering, manufacture and delivery of...
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Shell approves Aphrodite Gas Project in Trinidad and Tobago

Shell Trinidad and Tobago Ltd. has taken a Final Investment Decision (FID) on the Aphrodite gas project in the...

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