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Exxon makes ‘significant’ oil discovery at Ranger-1 offshore Guyana

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US oil major ExxonMobil announced today positive results from its Ranger-1 exploration well, marking the company's sixth oil discovery offshore Guyana since 2015. The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot,...
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Supermajors cautious on exploration; cut spending on O&G for 5th consecutive year

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ExxonMobil, along with other world leading oil exploration companies including Royal Dutch Shell and Total are slowing down exploration efforts despite there being the strongest start for oil prices in four years. This is according to a recent report from analyst...
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Summer of milestones in 2017 led to sanctioning of Liza Phase 1 – Exxon Country Manager

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ExxonMobil Guyana Country Manager Rod Henson says the company along with its partners Hess and CNOOC Nexen were able to achieve some key objectives in 2017 which lead to a final investment decision being made for the Liza Phase...
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Gasoline prices just jumped 127% in Saudi Arabia

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(Bloomberg) The cost of living is rising for Saudis this year as the government raises gasoline prices and introduces value-added taxation to plug the budget deficit. The central bank forecasts inflation to average 5.7 percent in 2018 from a negative...
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Brazil’s oil production slips, oil exports up 25%

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(Reuters) Brazil’s oil output fell 1.21% in November from October, regulator ANP said on Jan. 2, after state-run oil company Petróleo Brasileiro SA (NYSE: PBR) carried out maintenance work at some production units. ANP said oil output was 2.595 million...
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Maersk Drilling wins 4-year deal with Tullow for Ghana offshore campaign

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Maersk Drilling has reportedly won a four-year contract with Guyana’s Orinduik and Kanuku Blocks licensee; Tullow Oil, for use of the ultra-deepwater drillship Maersk Venturer offshore Ghana. The contract, signed with the Danish drilling rig operator in December 2017, is...
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Petrobras to pay $2.95B in US settlement for ‘car wash’ corruption scandal

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(Reuters) Brazil's state-controlled oil company, Petroleo Brasileiro SA, said Jan. 3 that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors who claim they lost money as a result of a corruption...
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Oil prices post strongest January opening since 2014

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(Reuters) Oil prices posted their strongest opening to a year since 2014 on Jan. 2, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia. U.S. West Texas Intermediate...
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Major FPSO contract lifts Drydocks World

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(Maritime Standard) The Dubai-based shipyard, Drydocks World, has secured a significant piece of new business. The company has announced that it has signed a contract with SBM Offshore to carry out the construction of the turret mooring system for...
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What could 2018 hold for oil, gas exploration? Guyana high on agenda

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(Hart Energy) Although unfavorable market conditions with lower but slowly improving oil prices left E&P companies’ exploration budgets battered in 2017, the year still managed to bring a few notable gems that put exploration into the positive spotlight. ExxonMobil Corp....
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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