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Oil exports remain key driver of Guyana’s GDP, says IDB in latest report

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The main driver of Guyana’s GDP in the medium term continues to be oil exports, which the International Monetary Fund (IMF) estimates will represent 38.2 percent of GDP in the 2020 –2021 period. This is according to the Inter-American...
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Louisiana economic groups, GCCI talk up major trade mission

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Participants from the state of Louisiana Economic Development (LED) international department, the South Lafourche parish economic department and the Greater Lafourche Port Commission met with representatives of Guyana’s Georgetown Chamber of Commerce and Industry (GCCI) last month on the sidelines...
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Ali urges AmCham to aggressively represent Guyana’s interest in U.S. market

OilNOW -
Guyana’s President, Dr. Mohamed Irfaan Ali on Wednesday told members of the American Chamber of Commerce (AmCham) Guyana that he is looking forward to them championing the country’s quest in the removal of barriers to trade. According to a press...
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Oil edges up ahead of OPEC+ meeting

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(Reuters) - Oil prices rose on Wednesday before an OPEC+ meeting in which the producer club is expected to stick to a plan to add 400,000 barrels per day (bpd) each month through to December. The Organization of the Petroleum...
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Investors already showing interest in massive industrial operations as cheaper power looms – GO-Invest

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As the Government of Guyana pushes ahead with the planning and groundwork for the US$900 million gas-to-energy project, Chief Executive Officer of the Guyana Office for Investment (GO-Invest), Dr. Peter Ramsaroop, says the agency is welcoming investors who can...
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Hess will plug another US$150 million from Denmark asset sale into Guyana

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INEOS E&P A/S, which is a part of INEOS Energy said on Monday it has completed the previously announced agreement to acquire the subsidiary HESS Denmark ApS. for a total consideration of $150 million, effective January 1, 2021. Hess will...
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Equinor begins production at one of the most profitable projects in its history

OilNOW -
On Friday August 27, production started from the Troll phase 3 project in the North Sea. The project has a break-even price below 10 dollars and CO2 emissions of less than 0.1 kg per barrel oil equivalent. The new wells...
News

Monster hurricane pushes Gulf of Mexico oil, refining output almost to zero

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Seeking Alpha - Hurricane Ida Update More than 90% of oil production in the Gulf of Mexico has shut down as Hurricane Ida plows toward the Louisiana coast, threatening an area that is home to 17% of U.S. oil production, 5%...
News

More than 90% of Gulf crude oil offline as Hurricane Ida rips through region

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(S&P Global Platts) Oil and gas producers were racing Aug. 28 to shut in the vast majority of volumes in the US Gulf of Mexico as Hurricane Ida continued to whip through the region a day ahead of its...
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Tanager-1 estimated to contain over 65 million barrels of oil

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Tanager-1, one of the deepest wells ever to be drilled offshore Guyana, is estimated to contain around 65.3 million barrels (MMBBL) of oil as part of a ‘best estimate’ provided in a report compiled by consultants Netherland, Sewell &...
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Latest News

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Guyana’s political outlook steady enough to keep investors calm – Norway group

Stability, that’s the word investors want to hear, and in Guyana, they’re likely to get it. Schreiner Parker, Partner and...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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