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$2 billion oil hedge fund now nearly worthless

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(Reuters) - Wells Fargo (WFC.N) and a number of other lenders are negotiating to take control of a hedge fund previously valued at more than $2 billion that is now worth close to nothing, according to a report from...
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ExxonMobil supporting research to convert biomass into fuel

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The University of Wisconsin-Madison and ExxonMobil have announced a two-year renewal of an agreement to research the fundamental chemistry of converting biomass into transportation fuels. The research is part of a broad effort to identify scalable and commercially viable...
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Guyana signs onto OPEC fund

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Guyana’s private sector is set to benefit from new avenues for finance and investments with the signing of an Agreement for Encouragement and Protection of Investment with the OPEC Fund for International Development (OFID). The country’s Minister of Finance, Winston...
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Excitement high as 2nd batch of Guyanese workers head out to Stena Drillship

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Excitement was high on Saturday at the head office of El Dorado Offshore (EDO) in Georgetown, as another batch of Guyanese workers prepared for the 120-mile journey offshore to the Stena Carron Drillship. Stena has selected 12 Guyanese nationals through...
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US Ambassador optimistic Guyana will achieve EITI candidacy this year

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US Ambassador to Guyana, Perry Holloway, says he is optimistic that Guyana’s candidacy for the Extractive Industries Transparency Initiative (EITI) will be approved this year. The United States is providing assistance to the Ministry of Natural Resources in support...
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Public lecture on safety culture in oil & gas set for Tuesday

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Guyanese will have another opportunity to learn more about key aspects of the oil and gas industry with the staging of another public lecture on Tuesday, July 18, 2017. The focus of this lecture will be the cultural impact...
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Trump administration reduces royalty rates in first U.S. oil, gas lease sale

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(Reuters) The Trump administration on Thursday announced its first offshore oil and gas lease sale, offering 76 million acres (30 million hectares) in the Gulf of Mexico and reduced royalty rates for shallow-water leases to encourage drilling at a...
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Halliburton looking to open office in Guyana

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Guyana's Minister of Natural Resources, Raphael Trotman, and a team of technical officers of the Petroleum Department of the Ministry of Natural Resources met with Mr. Jeffrey Miller, President and CEO of Halliburton, and his team at the Ministry’s...
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Trotman says Guyana is “right on target” with preparation for first oil

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“We are not in a sprint, we are in a marathon” were the words echoed by Guyana’s Minister of Natural Resources, Raphael Trotman, at the opening of ExxonMobil’s Centre for Local Business Development on Thursday. The US supermajor’s Country...
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ExxonMobil opens ‘100% Guyanese outfitted’ business development centre

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US supermajor ExxonMobil officially declared open its Centre for Local Business Development in Georgetown, Guyana, on Thursday. This new facility will assist small and medium-sized Guyanese businesses with building their capacity and improving their competitiveness in the oil and...
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CNOOC’s record production in Guyana boosts strong Q3 results

CNOOC Limited announced its highest-ever net production and net profit for the third quarter of 2024, crediting increased output...

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