Estimados lectores, lamentamos profundamente haber estado fuera de línea durante varios días debido a un problema técnico que ya se ha resuelto. 
- POLITICS/GOVERNANCE/ECONOMY
Govt, Opposition to meet this week on appointment of Public Procurement Commission: Guyana Times
…backlog of complaints awaiting Commission – PAC Chair
Work to set up the Public Procurement Commission (PPC), which has the vital role of overseeing contract approvals and mediating contractor complaints, will begin in earnest when a subcommittee of the Public Accounts Committee (PAC) meets this week. During Monday’s sitting of the PAC, Opposition member Ganesh Mahipaul raised the issue of the appointment of the PPC. The PAC is responsible for approving members of this commission, as well as requesting background checks on candidates.
President demands timeliness, quality work from contractors: Guyana Times
…lays out Govt’s expectations
President Dr Irfaan Ali on Monday hauled in a number of contractors executing works throughout the country for a meeting, laying down his Government’s expectations while at the same time listening to concerns. The meeting was held at the Arthur Chung Conference Centre (ACCC) on Monday afternoon, with contractors currently executing major capital projects and relevant Ministries and Government agencies. During the meeting, the President discussed his Government’s expectations when it comes to the execution of the projects and the quality of work.
Value Guyana’s forests provide to world estimated at US$40-54M: Guyana Chronicle
— sale of carbon credits will finance LCDS initiatives, according to draft document
THE ambitious initiatives set out in Guyana’s recently launched and expanded Low Carbon Development Strategy (LCDS) 2030, will be funded from money earned from the sale of carbon credits. The sale is one initiative outlined in the draft document. Just how much will be gained from the sale of Guyana’s carbon credits is uncertain; however, estimates informing the development of LCDS 2030 place the value Guyana’s forests provide to the world at US$40-$54 billion.
A New Energy Mix: Guyana Chronicle (Editorial)
GUYANA’S energy demand is likely to increase almost three-fold over the next five years. This is due to a rapid expansion of the economy, triggered by oil and gas. There is need not only for an increased supply of energy to satisfy our growing development needs, but also for cheaper, cleaner and a more reliable energy supply so necessary for accelerated development. One way of addressing the challenges of cheaper and a more reliable supply of energy is to diversify the energy source which currently is heavily skewed in favour of fossil fuel. Apart from being environmentally unfriendly, it is also expensive when compared to other energy forms.
Anti-China vitriol is sweeping across Guyana: Stabroek News (Letter to the Editor) by Clement James Rohee
Another wave of anti-China vitriol is sweeping across Guyana and sections of the print and electronic media are hard at work pushing the anti-China propaganda. But let me make it clear from the outset, my letter is not in defence of the Chinese, it’s more about what I believe is good for my country. Development has many trap doors, there is no perfect developmental pathway just as there is no perfect government to lead the way. The China critics have taken aim at key developmental projects including the new bridge across the Demerara River, the Amaila Falls Hydropower project, two major highways and number of community and hinterland roads.
‘We are here’ – Head of Women’s Chamber says women crucial to developing Guyana – News Room Guyana
- OIL/ENERGY
Environmentalist questions ‘independence’ of Exxon’s Consultant: Kaieteur News
…says regulator is now an asylum run by inmates
Overseas-based Guyanese environmentalist, Simone Mangal, is raising concerns over what she believes is a ‘red flag’ in the selection process of the consultancy firm used to conduct the Environment Impact Assessment (EIA) studies for oil giant, ExxonMobil. Mangal expressed her views during a live broadcast segment of ‘The Glenn Lall Show,’ a commentary programme, which aired on the Kaieteur Radio, last Wednesday. The show followed a series of public consultations to inform the final EIA for the Yellowtail oil development project, where Mangal joined a panel of other environmentalists who raised a barrage of questions surrounding the environmental issues, which the 4th oil project will possibly have on Guyana.
ExxonMobil seeking one more year before giving up parts of lucrative Stabroek Block: Stabroek News
-cites pandemic
Having already found ten billion barrels of oil equivalent in the Stabroek Block, ExxonMobil is seeking an extra year before having to relinquish parts of the concession as it says that the COVID pandemic has severely hampered its work. ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) and the government are currently in discussions on the relinquishment obligation following a request by the company for a one-year extension. The relinquishing of blocks is set to take effect in 2023, but ExxonMobil explained that due to COVID-19 pandemic related setbacks last year, the company was now requesting a one year extension.
Govt holds meeting with Ghanian investors, Private Sector: Guyana Times
…as delegation in Guyana to explore opportunities
Following up on months of bilateral engagements between Guyana and Ghana, particularly in the area of oil and gas and local content, President Dr Irfaan Ali and members of his Cabinet on Monday held a meeting with a visiting Ghanian delegation of private sector representatives. The high-level meeting was held at the Office of the President on Shiv Chanderpaul Drive. The visitors, who represent several groups, including West Coast Gas Ghana Limited, met with President Ali, Prime Minister Mark Phillips, Vice President Bharrat Jagdeo and several other Ministers of the Government.
O&G sector contributes over $50B in taxes: Guyana Chronicle
EVER since Guyana sold its first 1,000,000 (one million) barrels of crude in February 2020 for GY$11.5 billion, the petroleum industry has raked in as much as GY$440 billion; this represents GY$57 billion more than the national 2021 budget. An analysis done by OilNow shows that since 2016, the burgeoning oil-and-gas sector has contributed more than $50 billion in taxes. Added to that, ExxonMobil Guyana has said that throughout 2020, the sector contributed more than GY$180.39 billion, an equivalent of US$901.95 million, to the country’s Gross Domestic Product (GDP).
ExxonMobil targeting 36 wells next year offshore Guyana: Kaieteur News
While it awaits approval from the Environmental Protection Agency (EPA) to drill 24 wells evenly across the Kaieteur and Canje oil blocks, operator of the two deepwater concessions, Esso Exploration and Production Guyana Limited (EEPGL), is planning to target another 12 wells, in its oil rich Stabroek Block come next year. This much was revealed by Hess Corporation which holds a 30 percent working interest in the Stabroek Block. During Bank of America’s recently held Energy Conference, Hess’ Chief Operating Officer, Greg Hill, noted that the partners have about four and a half years left before its exploration licence comes to an end for the Stabroek Block.
7 years later, Guyana struggling with basics for oil and gas sector: Kaieteur News
…as migration crisis looms — Ramkarran
Guyana discovered hydrocarbons—oil and gas in commercial quantities, back in 2015 at the time the Coalition Administration was being sworn into power, with production beginning in 2019, a national development that the A Partnership for National Unity + Alliance For Change (APNU+AFC) administration was hardly prepared for.Having lost office to the People’s Progressive Party Civic (PPP/C) in 2020, the incumbent administration is now proving that it too is still struggling with basic issues, with another potential looming crisis on the horizon being the issue of migrants, expatriates, naturalised Guyanese and a policy dealing with the phenomenon.
50 percent of Region’s gas reserves may be left stranded –IDB warns: Kaieteur News
When one considers the global movement towards renewable energy sources, driven largely by the need to bring the earth’s temperature down to 1.5° Celsius, the future of natural gas appears bleak. This is according to a recent report prepared by experts contracted by the Inter-American Development Bank (IDB). They believe that the energy transition movement and declining competitiveness leaves approximately 50 percent of the Latin American and Caribbean Region’s gas reserves, at risk of being left in the ground.
Deepwater drillers positioning for big opportunities in prolific Guyana-Suriname basin: OilNOW
The Guyana-Suriname Basin is currently a big operating arena for deepwater players Maersk Drilling and Noble Corporation, and according to S&P Global Platts, the companies are looking to expand this position as they merge to create a world class offshore drilling firm. The Guyana-Suriname Basin is an emerging deepwater play off the northern coast of South America. A group led by ExxonMobil has made more than 20 major discoveries amounting to around 10 billion barrels of oil equivalent in Guyana.
Trinidad Energy Minister warns Guyana, Suriname about oil sector opportunists – Demerara Waves Online News- Guyana
Analyst says measures should be put in place to ensure local companies are paid for services in a timely manner: OilNOW
A lead analyst at Americas Market Intelligence (AMI) says measures should be put in place to ensure local companies in Guyana providing services to the oil and gas industry are paid in a timely manner, particularly since access to capital continues to be a major challenge for these firms. Arthur Deakin, Co-Director of Americas Market Intelligence (AMI) Energy Practice told OilNOW in a recent interview that there should be a maximum of 60 days processing time before a company is paid. Deakin’s remarks come at a time when local companies have been complaining about the extended time, in some cases several months, it takes for them to be paid for services rendered.
Local Content draft Bill calls for near takeover of oil operations by locals – Department of Public Information
Guyana labour ministry kicks off two-day health, safety programme with Exxon: OilNOW
Guyana’s Ministry of Labour said it is forging ahead with establishing strong relationships with oil and gas companies operating in the new oil producing South American country and promoting more health and safety awareness in the sector. On Monday, the ministry launched a two-day Joint Occupational Safety and Health (OSH) Committee Training Programme for representatives of ExxonMobil. The programme, which is being conducted at the Pegasus Hotel, was developed to train members of the Joint Workplace Safety and Health Committee established with Exxon and enable them to execute their mandate in the workplace as required by the provisions of the Occupational Safety and Health Act, Chapter 99:10.
Finding right balance in JVs will ensure Guyanese companies don’t get ‘short end of stick’, says analyst | OilNow
Dr. David E. Lewis
Vice President
Manchester Trade Ltd. Inc.
International Business Advisors
2200 Pennsylvania Avenue NW – 4th Floor
Washington, DC 20037
Tel 202-507-5669
Email: DavidLewis@ManchesterTrade.com
Web: http://www.ManchesterTrade.com
Skype: ManchesterTrade.Lewis
