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Hess suffers $624M loss in 3rd quarter 2017

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Hess Corporation (NYSE: HES) today reported a net loss of $624 million, or $2.02 per common share, in the third quarter of 2017 compared with a net loss of $339 million, or $1.12 per common share, in the third...
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Hess is building a war chest to fund its $4.4 billion Guyana find

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(Bloomberg) With $2.7 billion in oilfield sales this week, Hess Corp. is making a calculated bet, giving up steady production today to help fund what could be one of the world’s biggest discoveries into the next decade. The oil explorer...
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Guyana EITI candidature application approved

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The Extractive Industries Transparency Initiative (EITI) Board has approved Guyana’s EITI candidature application making the South American country the 53rd candidate of the global transparency body. OilNOW understands Guyana’s EITI National Coordinator, Dr. Rudy Jadoopat travelled to the Philippines to...
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Guyana to consider Chevron’s quest for offshore acreage

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Guyana’s Minister of Natural Resources, Raphael Trotman, says he is excited by the interest being shown by foreign companies looking to tap into the prospects of the country’s oil and gas sector. He made specific mention of US supermajor, Chevron,...
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Berbicians briefed on Exxon business centre services

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ExxonMobil’s Centre for Local Business Development (CLBD) in Guyana on Monday met with residents and members of the Berbice business community at the Berbice Chamber of Commerce in New Amsterdam. This meeting follows a series of similar meetings with business...
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Hess exiting Norway and Denmark

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Hess Corporation (NYSE: HES) announced on Monday several additional steps in what the company says is the continued execution of its strategic plan to further focus its portfolio and allocate capital to higher return assets: An agreement to sell its...
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African oil expert delivers presentation to packed audience in Georgetown

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Theophilus Nyamko Ahwireng, former Chief Executive Officer of the National Petroleum Commission of Ghana delivered a well-received presentation on resource management, governance and sustainable development of the oil and gas sector to a packed audience in Georgetown, Guyana, on Monday. The...
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Kosmos farms into Equatorial Guinea with three new contracts

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The Ministry of Mines and Hydrocarbons of Equatorial Guinea, Kosmos Energy of the US and national oil company GEPetrol have signed three new production sharing contracts (PSC) for Block EG-21, Block S and Block W offshore Rio Muni. The...
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Business group staging public discussions on O&G across Guyana

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A key group representing the business community across Guyana will be staging a series of public discussions on oil & gas, beginning today. The Georgetown Chamber of Commerce and Industry (GCCI) will be spearheading a series of public lectures and...
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US clout in world oil market grows as exports increase

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(CNBC) For two separate weeks recently, the U.S. exported as much oil onto the world market each day as was being pumped in either Nigeria or Venezuela and by several other OPEC countries together. Those roughly 1.9 million barrels a...
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Fiscal terms in Guyana, Namibia, Angola ‘striking the right balance’ – WoodMac

Global provider of data and analytics, Wood Mackenzie, said host governments, such as those in Guyana, Namibia, and Angola,...

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