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Large Guyana contingent for OTC 2019

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The South American country of Guyana will be sending a large contingent to the upcoming Offshore Technology Conference (OTC) to be held from May 6 to 9 at the NRG Park, Houston, Texas. The Government of Guyana through the Guyana...
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Hess doesn’t expect court ruling on no confidence vote to affect Guyana operations

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Hess Corporation, a partner in the ExxonMobil-led consortium operating offshore Guyana, does not expect a ruling over the coming month by the Caribbean Court of Justice (ICJ) on a no-confidence vote, to affect oil operations. Company officials were asked on...
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BP profits fall on oil-price volatility

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(Market Watch) BP PLC said Tuesday its profit dropped by 12% in the first quarter due to a weaker oil price environment at the start of 2019, echoing anemic quarterly results recently reported by other Big Oil companies. U.K.-based BP...
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New wells drilled to the moon and back by 2023

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Rystad Energy forecasts that more than 1 million kilometers of new oil and gas wells will be drilled over the next five years. The Norway-based energy research and business intelligence company said the collective depth of these wells is the...
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Future oil discoveries at Stabroek could run into billions of barrels

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Hess Corporation, a 30 percent stakeholder in the prolific Stabroek Block offshore Guyana, believes more mega oil deposits are still to be found in the 6.6 million-acre block. “Gross discovered recoverable resources on the block are estimated to be more...
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CNOOC releases operations report; Guyana tops company’s discoveries

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CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) today announced its key operational statistics for the first quarter of 2019. The Company achieved a total net production of 120.1 million barrels of oil equivalent (“BOE”) for the first...
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Hess reports net income of $32M as Guyana oil reserves soar

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Hess Corporation (NYSE: HES) today reported net income of $32 million, or $0.09 per common share, in the first quarter of 2019, compared to a net loss of $106 million, or $0.38 per common share, in the first quarter...
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Occidental makes ‘superior proposal’ for Anadarko’s acquisition

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Occidental Petroleum Corporation has made an offer to acquire American oil company Anadarko for $38 billion, bettering Chevron which offered $33 billion. Occidental said in a press release on April 24, 2019 that it delivered a letter to the Board...
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Ramps Logistics secures full integrated contract with Tullow for Guyana drill campaign

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Ramps Logistics has secured a fully integrated cross-border logistics contract inclusive of shore base provision and management, marine agency, personnel logistics, freight forwarding and customs brokerage, with UK-based Tullow Oil for its upcoming Guyana drill campaign. Further to this, a...
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Keppel nets S$203m in profit for 1Q 2019

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Keppel Corporation Limited (Keppel) reported a net profit of S$203 million for the first three months of 2019, 40% below that of S$337 million for 1Q 2018. In 1Q 2018, the Group benefitted from a S$289 million gain arising...
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Oil Law 101Joanna Simmons -

The PAA Series: Management Themes (Part 1)

To briefly recap our first publication the Petroleum Activities Act Series – Introduction, the term upstream refers to all...

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