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Pandemic downturn wipes out 28,000 oil and gas jobs in Australia

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The Covid-19 pandemic hit Australia’s already declining oil and gas workforce hard, causing a loss of over 28,000 jobs this year, equivalent to a...

Deepwater projects are big winners as average breakeven price drops to...

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A comprehensive analysis by Norway-based Rystad Energy of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped...

Guyana production set to hit 1.4 million b/d in mid-2030s with...

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Oil production in Guyana is expected to rapidly increase in the coming years as more developments are sanctioned, and floating production storage and offloading...

40% of offshore investments from 2021 will be FPSOs, several orders...

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Norway-based Rystad Energy said in a new report it expects offshore investments to rebound from 2021 with 40% of spending linked to construction of...

Guyana oil revenue will more than double T&T’s and quadruple Suriname’s...

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The South American country of Guyana is on course to receive the highest estimated total income from its multi-billion-barrel oil and gas...

Over 3 million bpd to be sanctioned in Guyana, Brazil even...

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Oil projects off the coast of South America have lower breakeven prices and competitive payback times in comparison to similar projects in...

Guyana set to benefit from US$50 billion in project sanctioning spread...

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US oil major ExxonMobil is projected to expend around US$50 billion in project sanctioning over the next 10 years for its offshore development activities...

45 wells drilled over a span of almost 50 years before...

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Before 2015, offshore Guyana was considered a “high-risk frontier basin” with 45 wells drilled over a span of 50 years resulting in no commercial...

Rystad Energy says 2nd COVID-19 wave expected to be less destructive...

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As COVID-19 infections continue to increase around the world and the implications of the pandemic’s spread are acknowledged in key markets in the Americas...

Oil and gas project sanctioning set for staggering decline in 2020

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Global project sanctioning is set for a staggering decline this year of over 75% from 2019 levels, as the COVID-19 pandemic has caused E&P...