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Tillerson has 180 million reasons not to return to oil industry

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(Bloomberg) -- It isn’t clear where Rex Tillerson goes from here, but he has 180 million reasons to avoid the oil industry. The freshly ousted Secretary of State’s exit package from former employer Exxon Mobil Corp. stipulates that if Tillerson returns to...
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Urgency of Sovereign Wealth Fund cannot be understated – US Ambassador

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United States Ambassador to Guyana Perry Holloway says the establishment of a revenue and investment framework that effectively manages the expected windfall from oil production is of vital importance if the South American country is to be truly transformed. Writing...
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Tillerson’s departure could shift path on Venezuela oil sanctions – Analysts

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The removal of Rex Tillerson as US Secretary of State could alter the administration's plans for sanctions on Venezuela's oil sector, analysts have said. Tillerson, the former CEO of ExxonMobil, had become a leading advocate for sanctions on Venezuelan exports...
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Oil producer Norway starts wage talks to avert widespread strikes

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(Reuters) - Norwegian employers and labor unions embarked on four weeks’ of wage talks on Monday to stave off widespread strikes that risk impacting output in western Europe’s biggest crude producer. Unlike most years, in which wages are set on...
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Ecuador seeks $800M investment in oil & gas bid

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(Reuters) - Ecuador on Tuesday launched a bidding round for foreign companies to develop oil and gas reserves, hoping to attract some $800 million in investment to boost production in the Andean nation’s sluggish economy. Winners will operate four oil...
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Trump fires Tillerson, taps Pompeo as next Secretary of State

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(CNN) President Donald Trump has fired Secretary of State Rex Tillerson and will nominate CIA Director Mike Pompeo to replace him. "Mike Pompeo, Director of the CIA, will become our new Secretary of State. He will do a fantastic job!...
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Noble crew member wants fellow Guyanese to get on board

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A Guyanese crew member working on the Noble Bob Douglas drillship that will soon depart the Gulf of Mexico to begin development of the Liza oil field in the South American nation is calling on his countrymen to get...
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Hess planning ‘investor day’ for Guyana oil bonanza

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Hess Corporation continues to be encouraged by positive results coming out of Guyana where, in partnership with CNOOC Nexen and the operator - ExxonMobil - 3.2 billion recoverable barrels of oil have been confirmed from 5 out of a...
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Natural gas exporters want oil-linked pricing to maintain supply

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(Bloomberg) The debate over how to price natural gas is settled, at least for exporters, and oil-indexing should prevail. Prices have to be linked to crude oil to keep expected revenue predictable, with some $8 trillion of investments in the...
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At $232 billion world’s 3rd-largest oil major looks dirt cheap

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PetroChina and Chevron Corp. have vied for the spot of third-largest publicly traded oil company -- after Exxon and Shell -- since mid-2016. As of Monday, PetroChina’s market capitalization has averaged almost $232 billion so far this year, compared...
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Guyana’s AFC party promises transparency, amended contracts in oil sector if it wins elections

Guyana’s Alliance for Change (AFC) political party is promising oil and gas transparency reforms and a review of existing...

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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