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Gov’t working on ensuring prosperity for Guyana – Department of Public Information
Gov’t to modernise laws to boost private sector growth – News Room Guyana
The birth and growth of West Indies Petroleum Limited
Guyana Oil and Gas Market Key Strategic Developments, New Technologies by Players Exxon Mobil Corporation, Hess Corporation, CNOOC International and CGX Energy. – Energy Siren
Crude bargain – Many investors, including a little-known Canadian company, see huge profit potential in Guyana’s offshore oil deposits.
https://www.cbc.ca/newsinteractives/features/guyana-oil-canadian-deal
‘PPP sees oil as one way to get rich quick’: Kaieteur News
– Norton warns of vigorous response to corrupt intentions
New Leader of the People’s National Congress Reform, Aubrey Norton said that the discovery of oil presents an unprecedented opportunity for Guyana to embark on a period of real development, but he said the ruling PPP government sees it as an opportunity to get rich quick. “This is not the way of the PNCR. As leader, I will emulate the example of my predecessors and seek to build a society in which the interests of our people are of paramount importance. We will pursue this goal as a united and cohesive Party,” Norton said at a memorial service to honour former party leader and President Hugh Desmond Hoyte.
Wide consultations for private sector rep. on oil fund Board- PSC Chairman promises: News Room
There will be wide consultations across the local private sector to select the single private sector representative expected to sit on the newly-proposed Board of Directors of Guyana’s Natural Resources Fund (NRF). This was the assurance given by the Chairman of the Private Sector Commission (PSC) Paul Cheong, at the sidelines of a recent event. As per the proposed amendments to the NRF Act, a new Board of Directors, comprising three to five members, could manage Guyana’s oil wealth fund. Notably, the amendments specified that one of those members shall be a representative of the private sector.
Norton sees need for `new governance mechanisms’: Stabroek News
-praises Hoyte’s legacy
In his first major address as head of the PNCR, Aubrey Norton today lavished praise on the late former President and Leader, Desmond Hoyte and adverting to the country’s oil wealth, he said the party will impress upon society the “need for new governance mechanisms to ensure the people of Guyana benefit from our national resources”. He did not expand on what those new governance mechanism could be. Speaking at the Seven Ponds, Botanical Gardens on Hoyte’s 19th death anniversary, Norton told his audience that he considers his election on Saturday to be an indication that the party’s constituents want a “vigorous response” to any corrupt intentions of the PPP/C government to squander the country’s patrimony through reckless spending and bloated contracts.
Natural Resources Ministry corrected APNU/AFC breaches to the law, Procurement Act – AG: Guyana Times
…contract staff earning over $300M transferred to pensionable establishment
The Natural Resources Ministry has received a commendation from the Audit Office of Guyana in its 2020 Report, which states that the ministry corrected a number of breaches to the law, including breaches to the Procurement Act. In Auditor General Deodat Sharma’s 2020 Audit Report, it was noted that there were three recommendations made in the previous 2019 Report. These recommendations pertained to breaches to circularized instructions on how to deal with contracted employees, which occurred under the former A Partnership for National Unity/Alliance For Change (APNU/AFC) Government.
Local Content is a sham: Kaieteur News (Columnist) Peeping Tom
The proposed Local Content Law is too little too late. It has come years too late and will not derive any substantial benefits for local firms, since most of the major contracts have already been negotiated and awarded by the oil companies. The government therefore is deluding itself into believing that local firms stand to benefit substantively from this piece of redundant legislation. And all the local excitement over local content fails to acknowledge that the Bill itself changes very little about how the oil companies do business.
Govt. discards bids received for gas-to-shore project: Kaieteur News
…says not obligated to accept any offer, reserves right to negotiate with private partner
The Guyana Government has not only discarded the first set of proposals it received in September this year, for aspects of the gas to shore initiative, but also has completely re-designed the scope of works, to now instead build an integrated gas fired power generation plant, in addition to a Natural Gas Liquids (NGL) factory. Esso Exploration and Production Guyana Limited (EEPGL)—ExxonMobil Guyana—at the time had also pre-qualified firms for the NGL plant—a process now scrapped and will have to be restarted.
Exxon’s Chairman to attend February 2022 energy conference in Guyana: OilNOW
Chairman and Chief Executive Officer of ExxonMobil, Darren Woods, will attend the International Energy Conference and Expo Guyana 2022, slated for February 15 to 18 at the Guyana Marriott Hotel Georgetown. Guyana’s President Dr. Irfaan Ali will deliver the Keynote Address at the opening of the conference and will host the neighbouring President of Suriname, Chandrikapersad Santokhi, and Prime Minister of Barbados Mia Mottley. “We wish to call on the private sector to get on board as we highlight development and opportunities in the oil and gas sector,” said Minister of Natural Resources, Vickram Bharrat.
New Exxon Guyana head office will supply power to Georgetown grid – Routledge | OilNow
UG sets out to boost Guyana’s capacity to test for variants, study diseases: News Room
The University of Guyana (UG) through its College of Medicine is seeking to boost Guyana’s capacity to test for variants of viruses like the novel coronavirus and study infectious diseases that may emerge. This is according to the Vice-Chancellor of the University of Guyana, Professor Paloma Mohamed-Martin, who spoke to the News Room at the sidelines of a recent event. Under the Greater Guyana Initiative (GGI), the university has received a grant to create its own genomics laboratory. Genomics is the study of genes and allows for the scientific study of complex diseases. This initiative is a 10-year commitment from ExxonMobil, Hess and CNOOC Limited, co-venturers in offshore oil development in the Stabroek Block. It is geared at expanding capacity-building efforts and promoting sustainable economic development in Guyana.
Former PPP Minister – Geoffrey Da Silva – demands urgent renegotiation of ‘wicked’ Exxon contract | Guyanese Online
Suriname does continuous reviews of companies’ oil spill response plans: Kaieteur News
– This way, they know we are not sleeping at the wheel –Former Staatsolie Boss
While Suriname has made it a practice to ensure oil companies have response plans in place in the event of an oil spill, it ensures continuous reviews of these plans are done as a guarantee of their effectiveness. Additionally, this is done to ensure the oil companies know that Surinamese authorities are never asleep at the proverbial wheel; that they are “1000 percent” committed to protecting their offshore marine resources. Making this point pellucid was former Head of Staatsolie (Suriname’s National Oil Company), Rudolf Elias.
Argentina’s oil output to surpass 600,000 bpd on Vaca Muerta rally: OilNOW
Argentina’s massive Vaca Muerta shale play reported yet another month of outstanding oil production growth, with October volumes surpassing 190,000 barrels per day (bpd) for the first time in history on the back of a record-high number of wells put on production (POP). Rystad Energy said the latest data beats its forecast published at the start of the year by two months. That level of output implies a growth of 65% for October year over year, which definitely confers the title of the fastest growing tight oil play in the world this year to the Vaca Muerta region.
Oil stable on signs Omicron might be fairly containable: OilNOW
(Reuters) – Oil prices were broadly stable on Thursday as signs the worst effects of the Omicron coronavirus variant might be fairly containable were countered by new curbs amid surging case numbers. Brent crude futures was up 19 cents, or 0.3%, to $75.48 a barrel at 1109 GMT, after a 1.8% gain in the previous session. U.S. West Texas Intermediate (WTI) crude futures were up 5 cents, or 0.1%, at $72.81 a barrel after jumping 2.3% in the previous session. The big gains on Wednesday were partly spurred by a larger-than-expected drawdown in U.S. crude stockpiles last week.
Qatar Petroleum signed biggest long-term LNG contract with CNOOC: OilNOW
The number of long-term contracts for liquefied natural gas (LNG) has increased in 2021, following a drop in 2020 when short-term spot contracts were favoured, according to GlobalData. The data and analytics company said 23 long-term contracts were signed by key purchasing companies in 2021, compared to 10 in 2020. “Buyers are, once again, looking towards long-term contracts to hedge price volatility and ensure guaranteed supply. The trend is expected to continue in 2022 as LNG prices in key markets such as Asia and Europe continue to be very high,” said Bhargavi Gandham, Oil and Gas Analyst at GlobalData.
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