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Laid-off sugar workers finding hope in Guyana’s petroleum industry

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Several sugar workers who lost their jobs when estates began closing in Guyana last year have now been given a second chance at acquiring new skills and gaining employment in the oil and gas industry through the operations of...
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Curtain drawn back on the energy giant that makes more profit than all of Big Oil combined

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For the first time in 40 years Saudi Aramco numbers have been revealed — and they are huge — in fact the world’s biggest For four decades the financial performance of Saudi Aramco has been one of the biggest secrets...
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Oil falls after Trump criticizes OPEC for artificially high prices

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(Reuters) - Oil prices fell on Friday after U.S. President Donald Trump criticized OPEC and said oil prices were artificially high, but they were still set for a weekly gain. Brent crude oil futures LCOc1 were at $73.01 per barrel...
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Ranger and Pacora discoveries among 6 CNOOC made for Q1 2018

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CNOOC Limited achieved total net production of 120.1 million barrels of oil equivalent for the first quarter of 2018, representing an increase of 0.8% year over year. According to a statement from the company, production from offshore China decreased...
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Despite chaos oil major Total says it will not leave Venezuela

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French oil major Total S.A. says despite declining production and immense hardships it will remain in Venezuela. The South American oil producing nation has tumbled into an economic and social crisis, with millions suffering food and medicine shortages. Since last...
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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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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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