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Brazil’s Temer relaxes stringent local content requirements

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The Government of the Federation of Brazil has yielded to demands for higher minimum percentages as they edge closer to an industry-wide local content policy. Brazil in recent years has become known for its stringent local content requirements; some of...
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The World Bank won’t back oil and gas – what now?

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(Chatham House) At the One Planet Summit in Paris last week, the World Bank Group announced that, from 2019, it will no longer finance upstream oil and gas. This reflects the Bank’s decision to realign its development assistance with...
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Canada firm plans $200M coin/share offering for oil and gas

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(Reuters) - Canadian oil financing firm Oleum Capital Inc plans to raise $200 million in mid-January through what it calls the world’s first offering of both shares and cryptocurrency tokens, a senior company executive told Reuters. The Calgary, Alberta-based company,...
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ExxonMobil Liza FPSO contractor SBM in $375 m bribery settlement in Brazil

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SBM Offshore, the company contracted by ExxonMobil to convert an oil tanker into a Floating Production, Storage and Offloading facility (FPSO) for the Liza Phase 1 development in the South American country of Guyana, has reached a settlement in...
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Hedge fund Elliott prepares second challenge to Hess Corp

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(Reuters) - Elliott Management Corp is readying for a new fight with Hess Corp (HES.N) to remedy what the activist hedge fund called on Thursday “continuing underperformance” by the U.S. oil and gas producer. This would be the second time...
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Trump to open door for Atlantic drilling

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(Bloomberg) The Trump administration is preparing to unveil as soon as this week an expansive offshore oil plan that would open the door to selling new drilling rights in Atlantic waters, according to people familiar with the plan. President Donald...
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Guyana waives import taxes to set up ‘natural gas’ refilling stations

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The Guyana Government in its push to prepare for an Oil and Gas sector has, as part of its incentive regime for the private sector, waived all Customs duties for machinery and equipment imported to set up refilling stations...
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Canadian support for private sector to tap into O&G opportunities

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Head of the Canadian Diplomatic Mission to Guyana has pledged further support from that country to the local private sector in order to fully realise the market opportunities presented by the South American nation’s emerging Oil and Gas sector. The...
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TechnipFMC opens new facility in Abu Dhabi

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(Gulf News Energy) TechnipFMC opened its 18,000 square metres new facility in Industrial City of Abu Dhabi (ICAD) as part of its continued investment in the UAE, according to a statement from the firm on Thursday. The new plant...
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House Speaker rejects motion over ‘signing bonus’

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Guyana’s political opposition, the Peoples Progressive Party Civic (PPP/C) on Friday unsuccessfully brought to the National Assembly; a motion looking to compel the government to have reflected in the State’s National Estimates as revenue, the US$18M ‘signing bonus’ it...
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Staatsolie approves commercial field for Sloanea-1 gas discovery in Suriname’s Block 52

Staatsolie Maatschappij Suriname N.V. has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname....

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