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ON Energy PSA: 53% profit oil, 1% royalty for Guyana

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The Production Sharing Agreement (PSA) between the Government of Guyana and ON Energy, signed on February 12, 2013, outlines a 53% share of profit oil for the South American country and 1% royalty, payable by the company. Recoverable contract...
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Guyana contracts American firm to review ExxonMobil application for giant Liza Phase 2 development

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The Environmental Protection Agency (EPA) has hired an American company; Rampal US Corporation to assess and certify an Environmental Impact Assessment (EIA) study for the ExxonMobil Liza phase II development. This was confirmed on Friday by Guyanese Minister of State,...
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Kosmos expects results from Anapai this month

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Kosmos Energy says it expects results from the Anapai-1 well in Suriname later this month as drill operations continue in Block 45 where the company holds a 50% interest. The company announced its first quarter 2018 results on Monday, reporting...
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Exxon’s success off Guyana coast fueled Latin America dominance in 2017

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Latin America dominated the world on the exploration front in 2017 in terms of both discovery numbers and size, mainly due to ExxonMobil’s continuing success offshore Guyana, according to investment research and advisory company, Edison, in its 2018 Exploration...
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Hart Energy: Guyana-Suriname basin shows long-term promise – OTC 2018

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The first rule of puzzle assembly is to start with the edges and work in, flipping pieces this way and that, until the snap of snug fit indicates correct piece placement. When looking at a world map, it is...
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Petrobras chips away at debt with asset sales

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(Hart Energy) Brazil’s Petrobras intends to raise US$21 billion with the sale of assets by the end of this year, according to its 2018-2022 business plan, as the company works to lower debt while carrying out activities, mainly in...
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Hess reports US$106M net loss; Guyana remains shining light in company’s outlook

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Hess Corporation (NYSE: HES) on Wednesday reported a net loss of $106 million, or $0.38 per common share, in the first quarter of 2018, compared to a net loss of $324 million, or $1.07 per common share, in the...
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Liza SURF contractor Saipem posts loss of $2.4M in Q1 2018

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ExxonMobil Guyana Tier 1 contractor Saipem has narrowed its losses to $2.4m for the first quarter of 2018. The Italian oil and gas company's Q1 2018 loss marks an improved financial performance, following the $331m loss reported in Q4 2017. However, the Milan-based firm, operational in Saudi...
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CNOOC wants China to speed up reform of fuel pricing

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Chinese operator CNOOC Ltd, a joint venture partner together with ExxonMobil and Hess in the Stabroek Block offshore Guyana, is calling on Beijing to speed up the liberalisation of its retail fuel pricing scheme as high diesel and gasoline...
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“It’s not all about oil…it’s about investing in Guyanese” – TOTALTEC

OilNOW -
As the oil age dawns on Guyana in 2020, there is little time to prepare the hundreds of Guyanese that need to be trained in the basics of Oil and Gas and to obtain the necessary certifications that provide...
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Moonilal appoints new boards for Trinidad’s state energy companies

Trinidad and Tobago's Energy Minister Roodal Moonilal on Monday issued letters of appointment to the new boards of directors...

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