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Deeper integration of CARICOM countries cannot wait – Caribbean News Global
Ashni Singh to meet bankers on investment vehicles for savings – President: Stabroek News
President Irfaan Ali says that he has charged Senior Minister within the Office of the President with responsibility for Finance, Dr Ashni Singh, to meet with bankers and representatives from the Private Sector Commission (PSC) to chart a way forward that will be beneficial to the business community and ordinary Guyanese alike. “The interest rates on savings would not help the ordinary people who are saving or encourage ordinary people to save.
Submission of master plan to authorities by oil companies imminent: Guyana Chronicle
–with new Local Content Legislation
EVERY oil company and its sub-contractor must provide to the government a Local Content Master Plan that lays out the companies’ overall objectives. This is a requirement included in the government’s Local Content Bill, which was tabled in the National Assembly last week. In the Bill, it is stated that every master plan must include an employment, procurement and capacity development sub-plans; the quality and quantity criteria required for the supply of goods and the provision of services, and a statement and estimate of the value of local content to be acquired, delivered and rendered for.
Oil and gas sector: Guyanese will experience more benefits in coming years – ExxonMobil: Guyana Times
…says activities in Region 3 to soar in 2022
In response to recurring issues with the flash gas compressor on the Liza Destiny Floating, Production, Storage and Offloading (FPSO) vessel, ExxonMobil Guyana will be replacing the piece of equipment with a redesigned model that would reduce flaring below pilot levels. “At ExxonMobil Guyana, our teams strive for continuous improvement in our operations and environmental performance. In early 2022, we expect to install a new redesigned flash gas compressor on the Liza Destiny, and we will commission the gas injection system on the Liza Unity utilising lessons learned from our first project,” the company’s President, Alistair Routledge, said in a statement on Thursday.
ExxonMobil boasts of “very safe year” in Guyana despite two years of flaring: Kaieteur News
Recalling the safety performance for the year, he disclosed that there were hundreds of days across offshore operations without a recordable safety incident. Routledge also classified 2021 as an outstanding year for ExxonMobil Guyana, despite the challenges of the COVID-19 pandemic. “We have been able to overcome operational issues and deliver on volume targets including five cargos to the Government of Guyana. We’ve also continued our wonderful exploration success. Again, people tend to forget that this is a frontier exploration acreage, and we shouldn’t expect the kind of success we’ve seen,” Routledge outlined.
Local participation in ExxonMobil’s operations increases by 1,000 this year: Guyana Chronicle
–Routledge says company recorded an ‘outstanding’ 2021
LOCAL participation in ExxonMobil’s onshore and offshore operations increased by 1,000 persons this year, taking the total number of people serving the company’s activities to 3,270. In an overview of 2021, the oil giant said that, in addition to that, ExxonMobil Guyana and its prime contractors have also spent more than US$540 million with over 800 unique Guyanese vendors. The company said that the launch of the $20 billion Greater Guyana Initiative in February 2021 was another tangible expression of its commitment to bringing value to lives of Guyanese.
Local Content Bill closes loopholes for favouritism, monopolies – Guyana Attorney General | OilNow
Local content targets can be adjusted if we overestimate or shortchange ourselves – Nandlall | OilNow
To benefit from oil & gas opportunities, private sector readies for local content register – News Room Guyana
GUYANA: OIL: ‘Don’t rush the National Resources Fund (NRF) Bill’ – David Patterson | Guyanese Online
‘Don’t rush the bill’: Kaieteur News
– Opposition needs three months to scrutinise NRF bill
– says Govt. rushing to quickly put hands on oil money
Shadow Oil and Gas Minister, David Patterson has accused the Peoples Progressive Party (PPP) of forcing the critical National Resources Fund (NRF) Bill into legislation, so as to quickly access the fund. The NRF is one of the latest Bills laid in the National Assembly and outlines the way in which the earnings from oil and gas production are to be spent. In fact, the Bill was tabled only on December 16 and is slated to be debated on December 29 and passed.
Jagdeo, Norton at odds on reduced Natural Resource Fund oversight committee – Demerara Waves Online News- Guyana
Proposed NRF legislation most transparent model – VP Jagdeo – Guyana Times
AG Office boosts capacity for oil audits: Kaieteur News
…gets help from Canadians, staffer at University in London
The Audit Office of Guyana is boosting its capacity in anticipation of its role in Guyana’s still nascent oil and gas industry and has since turned to the Canadian Audit and Accountability Foundation for assistance. Additionally, one of the office’s staffer is currently pursuing a Master’s Degree in Oil and Gas at the University of Bedfordshire London. This was disclosed by Auditor General, Deodat Sharma, who in his 2020 report, noted that “being cognizant of the discovery of oil in Guyana, the Audit Office has been anticipating and planning for our role in the Oil and Gas Sector.”
Guyana should set up National Oil Company to penetrate veils of distrust: Kaieteur News
…create more win-win opportunities –former Staatsolie Boss
If Guyanese authorities are desirous of strengthening the State’s oversight as well as its position as leader of its oil industry, then a National Oil Company (NOC) is the way to go, says former Head of Suriname’s NOC, Staatsolie, Mr. Rudolf Elias. During a recent interview on Kaieteur Radio, Elias said, “I think the most important thing that Guyana should do is it should open a National Oil Company. This is not because I was the Chief Executive Officer of one but I worked there for so long and I saw the power and knowledge it afforded Suriname.”
ExxonMobil pays Guyana $930M for flaring of gas: Guyana Chronicle
GUYANA, through the Environmental Protection Agency (EPA), has received approximately $930 million (US$4.5 million) in payments from ExxonMobil for the flaring of gas at the Liza Phase One operation in the lucrative Stabroek Block, offshore Guyana. The figures, initially released by petroleum website, OilNow, were confirmed by Head of the EPA, Kemraj Parsram, who emphasised that the money collected is “cumulative.” He reminded that the penalty for flaring, as calculated locally, is US$45 per tonne, which is an increase from the US$30 as was previously agreed to.
EXXON’s Guyana offshore successes toast of World Petroleum Congress oil chatter: Stabroek News
Recent media reports seen by the Stabroek Business indicate that EXXON Mobil, the lead player in Guyana’s oil exploration and recovery pursuits have been ‘talking up’ what one report describes as the company’s “astronomical oil exploration success offshore Guyana.” Much, reportedly, is being said by the US oil giant about its “more than 20 discoveries (offshore Guyana) which have yielded more than 10 billion barrels in proven oil reserves in just six years” according to a recent report sourced to the American market analysts S&P Global Platts.
Better interest rates from banking sector, building ‘One Guyana’ on Ali’s radar: OilNOW
Focus on how the banking sector in Guyana can play a bigger role in national development and how every Guyanese can benefit from the economic explosion in the new oil producing South American country are on the radar of President Irfaan Ali. The Guyanese head of state on Thursday called for greater networking within the private sector to create more investment opportunities and navigate the global supply chain challenges. Mr. Ali made these remarks during a Christmas breakfast hosted in honour of the Private Sector Commission (PSC) at State House, according to a press release from the Office of the President.
Safe operations, multiple discoveries and big local spend mark outstanding year in Guyana for Exxon: OilNOW
President of ExxonMobil Guyana Alistair Routledge says the company has had a safe year of operations in line with its commitment to “Nobody Gets Hurt”. Recalling the safety performance for the year, he disclosed that there were hundreds of days across offshore operations without a recordable safety incident. “The crew onboard the Liza Destiny FPSO for instance has reached more than 800 days without a recordable incident,” he pointed out. “It is a value for us that people are looked after, and that the workplace is safe. We take care of one another.”
Guyana celebrates two years as an oil producer: iNews
December 20, 2019, marked a new, historic era for Guyana and its people. It was the day when ExxonMobil began producing light sweet crude offshore Guyana in the world-renowned Stabroek Block. Since then, not only has Guyana benefitted from billions of dollars in revenue and investment from this lucrative sector, but massive, transformative opportunities have presented themselves for the country, its people and indigenous businesses.
‘Important that Guyanese benefit from our operations’ – says ExxonMobil’s Routledge: iNews
President of ExxonMobil Guyana Alistair Routledge says the company has had a safe year of operations in line with its commitment to “Nobody Gets Hurt”. Recalling the safety performance for the year, he disclosed that there were hundreds of days across offshore operations without a recordable safety incident. “The crew onboard the Liza Destiny FPSO for instance has reached more than 800 days without a recordable incident,” he pointed out. “It is a value for us that people are looked after and that the workplace is safe. We take care of one another.”
Two fundamental laws that will shape Guyana’s energy development: OilNOW (Columnist) by Arthur Deakin
With 300 million barrels of oil per discovery and an 80% success rate, the largest energy company in the Americas, ExxonMobil, said that Guyana’s “numbers are incredible.” Exxon added that it will inject US$30 billion into the country to develop its oil blocks—nearly six times the size of the country’s 2020 GDP. The numbers are overwhelming, but few people understand the actual implications of how this will transform the local and regional scenario.
Guyana & Suriname will be producers for 100 years- former Staatsolie CEO | OilNow
IMF greenlights $688 million for Suriname: OilNOW
The International Monetary Fund on Wednesday approved a program to rebuild Suriname’s foreign reserves, which will disburse $688 million over a three-year period, $55 million of which will be distributed immediately, Reuters reported. The program seeks to bring down public debt, upgrade Suriname’s monetary and exchange rate policy framework, stabilize the country’s financial system and strengthen institutional capacity to address instances of money laundering and corruption, among other objectives, the IMF said in a statement.
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