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Guyana using its foreign policy to strengthen relationship with old allies, build new partnerships with oil producing nations

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By Wazim Mowla - OilNOW While some states aim to use foreign policy to increase their standing in the world, for advocacy, or as a tool to compete with others, Guyana’s has centered on promoting its economic development at home....
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Crude oil futures edge higher as demand outlook improves

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(S&P Global Platts) Crude oil futures were higher in mid-morning trade in Asia April 14, despite a pause in the Johnson & Johnson vaccine rollout and mixed data from the American Petroleum Institute, as the market remained buoyed by...
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Upstart oil producer Guyana turning heads, poised to eat up market share

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Producing oil in Guyana cost less than almost anywhere else in the world and this makes the South American country an extremely attractive investment destination for deepwater explorers. Many factors play a role in the production cost for a...
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Petrobras to bag whopping $6.5 billion for investments in Brazil oil fields

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(S&P Global Platts) Brazilian state-led oil company Petrobras will be reimbursed around $6.5 billion for investments it made to develop the Atapu and Sepia subsalt fields in the transfer-of-rights area in an agreement to clarify terms ahead of a...
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Canada-Guyana Chamber says now is the time to invest in economy projected to be world’s most oil intensive by 2025

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The expanding oil and gas operations in Guyana will have a significant impact on other industries in the country, according to the Canada-Guyana Chamber of Commerce (CGCC). The Chamber says this is the ideal time for foreign businesses to...
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Maersk Drilling and Tullow Oil enter long-term agreement for Ghana exploration campaign

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Based on the previously announced Conditional Letter of Award, Maersk Drilling has been awarded a contract from Tullow Ghana Ltd. for the provision of the ultra-deepwater drillship Maersk Venturer and additional services for a development drilling campaign at the...
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Guyana seeking firm to conduct cost-recovery audit, validation of profit oil share

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Guyana’s Ministry of Natural Resources is seeking consultancy services for cost recovery audit and validation of the country’s profit oil share for the period January 2018 to December 2020. According to a notice published by the Ministry of Natural Resources,...
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Crude oil futures edge higher, Brent pushes past $65

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(S&P Global Platts) Crude oil futures edged higher during mid-morning trade in Asia March 30 as optimism over the OPEC+ coalition persisting with its supply cuts and expectations of increased downstream products demand supported the market, although a stronger...
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Mexico president wants law that could suspend oil permits, analyst predicts ‘serious consequences’

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(Reuters) - Mexican President Andres Manuel Lopez Obrador sent a bill to Congress on Friday that could enable the government to suspend permits in the oil industry, as part of a drive to bolster state control of energy at...
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Oil futures rise as uncertainties mount over when blocked Suez Canal passage would be cleared

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(S&P Global Platts) Crude oil futures rose during mid-morning trade in Asia March 26, as the market braced for the possibility that the Suez Canal may remain blocked by the stuck Ever Given container ship for days, while anticipation over...
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ExxonMobil warns oil and gas investment must be sustained to avoid global supply crisis

ExxonMobil is warning that “sustained investments are more important than ever” in oil and gas, with its newly released...

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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