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Suriname to come up with US$1.8 billion for stake in Block 58 project

Shikema Dey -
Suriname’s state oil company Staatsolie is set to plug US$1.8 billion in the nation’s first offshore oil project, according to the company’s 2023 annual report.  Staatsolie could participate with up to 20% stake in the Block 58 field development. Its...
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Maduro declared winner but opposition says it won 70% of the vote

OilNOW -
(Al Jazeera) Nicolas Maduro, 61, has been declared the winner in Venezuela’s presidential election by the electoral authority, setting up a high-stakes showdown that will determine whether the South American nation transitions away from one-party rule. Opposition leader Maria Corina...
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ABS to classify Seatrium’s new FPSOs for Petrobras in offshore digital collaboration

OilNOW -
Seatrium has awarded the American Bureau of Shipping (ABS) a classification contract for Petrobras' newbuild floating production storage and offloading (FPSO) platforms, P-84 and P-85. Final delivery is expected by 2029. These are the first FPSOs following the ABS...
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Push local content, don’t forget about Suriname’s other sectors – Business Development CEO 

Shikema Dey -
Paramaribo, Suriname - In an interview at the recent Suriname Energy Oil & Gas Summit, Ileana Ferber, Chief Executive Officer and founder of Colibri Business Development urged the South American nation to balance local content development alongside the growth...
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Suriname Energy Conference returns this week as nation gears up for first landmark offshore development 

OilNOW -
Paramaribo, Suriname: The fourth Suriname Energy, Oil & Gas Summit (SEOGS) returns this week from June 4-7 in Paramaribo under the theme; “The Next Stage of Success”. The host remains Suriname’s state oil firm, Staatsolie. The event will be held...
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Increased hydrocarbon production ups IMF growth estimate for Brazil

OilNOW -
An International Monetary Fund (IMF) team, led by Ana Corbacho and Daniel Leigh, conducted discussions with Brazilian authorities and stakeholders for the 2024 Article IV Consultation from May 15-27, 2024. The IMF issued a statement highlighting Brazil's economic resilience...
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Trinidad hopeful existing gas infrastructure gives it edge over rising stars Guyana and Suriname

Kemol King -
Trinidad and Tobago's Minister of Energy and Energy Industries, Stuart Young, said the country is advantaged in terms of its ability to attract investment in gas exploration and development, due to its established gas infrastructure. During an early May...
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Trinidad has 10 years of gas production left from current reserves – Energy Minister

OilNOW -
Trinidad and Tobago has about 10 years of gas production left based on less than 12 trillion cubic feet (tcf) of natural gas reserves, Minister of Energy and Energy Industries, Stuart Young said during a May 29 live press...
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S&P ranks Guyana top upstream investment destination among Atlantic Margin basins

OilNOW -
S&P Global analysts have placed Guyana at the top of a list of 10 Atlantic Margin basins, in its assessment of which countries offer a conducive investment environment for long-term upstream projects.  The firm noted that recent discoveries by international...
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Touchstone sees 20% decline in oil, natural gas sales last quarter

OilNOW -
Touchstone Exploration, a Trinidad-focused energy company, announced its financial outcomes for the first quarter of 2024, which note a 20% decrease in sales from oil and natural gas compared to the last quarter of 2023. In the latest quarterly financial...
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Exxon not backing out of Block S8 talks – Jagdeo 

ExxonMobil, Hess and CNOOC are not backing out of talks with the Guyana government for a shallow water block...

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