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Goldman Sachs: oil’s seven sisters enter a ‘golden age’

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(Bloomberg) -- The world’s largest oil companies have survived a life-changing crisis, and are now poised to reap the rewards, Goldman Sachs Group Inc. said. Big Oil is in a sweet spot with rising oil prices and low operating costs,...
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Jamaica energy minister warns against unrealistic oil expectations

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Jamaica’s Minister of Science, Energy and Technology, Dr. Andrew Wheatley has warned against any unrealistic expectations of a financial windfall in the short term from the three-dimensional (3-D) seismic survey for offshore oil and gas exploration now getting under...
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Giant oil trader with no women in top jobs says change must come

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Commodity houses must do more to get women into top jobs, according to Vitol Group, the biggest independent oil trader, and a firm that like others in the industry staffs its leadership committee entirely with men. “We accept that it’s...
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Gov’t maintained ExxonMobil 600-block acreage for strategic reasons – Trotman

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The new coalition government that came to office in Guyana in 2015 felt it was in the country’s best interest for ExxonMobil – the only company with a willingness at the time to explore in territory threatened by Venezuela...
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First cohort of TOTALTEC Academy starts oilfield training today

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The new TOTALTEC academy will today commence its Oilfield Operator Training Programme with a first cohort of 24 young Guyanese. TOTALTEC is one of the investors in the Guyana Shore Base Inc., which has been contracted by ExxonMobil Guyana to...
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Venezuela’s oil-backed cryptocurrency will be convertible to Russian rubles – Maduro

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(RT) The so-called ‘petro’ digital currency, which was launched by Venezuela last month, will be traded for several global currencies, including the Russian ruble. “Starting March 23, all legal and physical entities will be able to purchase the petro directly…...
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36 companies set to bid for blocks in Mexico’s next round

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(Hart Energy) An opportunity to develop and produce oil from the Burgos, Tampico-Misantla-Veracruz and Cuencas del Sureste (Southeast) basins has attracted three dozen companies—including the U.K.’s BP, Capricorn Energy and Premier Oil—to Mexico. Mexico’s National Hydrocarbons Commission (CNH) said 36...
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Guyana basin still risky for oil companies – Source

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The notion that the Guyana basin has been completely de-risked because of the multiple oil discoveries made by US oil major, ExxonMobil, is misleading says a source. Speaking to OilNOW on condition of anonymity, the source said discoveries by a...
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“All legal requirements fulfilled in issuing petroleum license” says Guyana gov’t

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The Government of Guyana has once again reiterated its position that all legal requirements were fulfilled in the issuance of petroleum production licenses to all oil exploration companies operating in the South American country. In a public correspondence on Friday,...
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ExxonMobil to begin new hunt for oil at Sorubim-1 well in Guyana

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On March 30, 2018, ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) and its joint venture partners Hess and CNOOC Nexen will commence drilling operations at the Sorubim-1 well within the Stabroek Block of the Guyana Maritime Zone. The...
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IEA warns of major drop in oil investment as clean energy gains momentum

Upstream oil investment is expected to decline by 6% in 2025, marking the first drop since 2020 and the...

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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