{"id":2363,"date":"2021-12-09T14:27:52","date_gmt":"2021-12-09T14:27:52","guid":{"rendered":"https:\/\/energiesnet.com\/espanol\/?p=2363"},"modified":"2021-12-09T20:55:25","modified_gmt":"2021-12-09T20:55:25","slug":"guyana-news-updates-november-26-28-2021","status":"publish","type":"post","link":"https:\/\/energiesnet.com\/espanol\/guyana-news-updates-november-26-28-2021\/","title":{"rendered":"Guyana News Updates – November 26-28, 2021"},"content":{"rendered":"\n
\"Sponsors<\/a><\/figure><\/div>\n\n\n\n

Investors \u2018hungry\u2019 to invest in new city – Guyana Chronicle<\/strong><\/p>\n\n\n\n

https:\/\/guyanachronicle.com\/2021\/09\/27\/investors-hungry-to-invest-in-new-city\/<\/a><\/p>\n\n\n\n

David Granger: in his season and time, he withered; opportunity lost; yet holds sway, still has a role \u2013 Demerara Waves Online News- Guyana<\/strong><\/p>\n\n\n\n

https:\/\/demerarawaves.com\/2021\/11\/26\/opinion-david-granger-in-his-season-and-time-he-withered-opportunity-lost-yet-holds-sway-still-has-a-role\/<\/a><\/p>\n\n\n\n

Guyana\u2019s oil discoveries reignite environment versus development debate<\/strong><\/p>\n\n\n\n

https:\/\/dialogochino.net\/en\/extractive-industries\/48832-guyanas-oil-discoveries-environment-versus-development-debate-china\/<\/a><\/p>\n\n\n\n

Amaila Falls Hydro project figures don\u2019t add up: <\/strong>Kaieteur News<\/a><\/p>\n\n\n\n

\u2026onus now on Govt. to come clean- Energy Institute<\/p>\n\n\n\n

Electricity generation in Guyana is largely fueled by Heavy Fuel Oil (HFO) and Diesel-powered plants, run by the State owned, Guyana Power and Light Inc., (GPL), at a cost of about US$0.36 per kWh but the figures being proffered as cheaper alternatives, do not add up. In fact, the administration in its presentations trumpeting the Amaila Falls Hydro Electric Project (AFHEP) previously estimated in excess of US$1B\u2014has in fact, convoluted the affair with regard, whether the cost of electricity for the consuming public will be reduced or increased.<\/p>\n\n\n\n

Liza 1 can safely pump 144,000 barrels per day \u2013 EPA Head clarifies: <\/strong>Kaieteur News<\/a><\/p>\n\n\n\n

In light of concerns reported in the local media that ramped up production levels on the Liza Destiny Floating, Production, Storage, and Offloading (FPSO) vessel could leave Guyana exposed to grave dangers, Head of the Environmental Protection Agency (EPA), Kemraj Parsram, has come forward to categorically state that nothing could be further from the truth. An extract of the Liza Phase One EIA which highlights that production can occur safely beyond 120,000 barrels of oil per day and that impacts noted in the EIA were considered at peaks of 144,000 barrels of oil per day.<\/p>\n\n\n\n

No audit of Exxon\u2019s US$9.5B bill, warrants no approval for Yellowtail Project-Former EPA Head: <\/strong>Kaieteur News<\/a><\/p>\n\n\n\n

Former Head of the Environmental Protection Agency (EPA), Dr. Vincent Adams is calling on the Government not to approve ExxonMobil\u2019s fourth project- the Yellowtail Development -, until the US-based oil giant agrees to a belated audit of its US$9.5 billion spending. The Government said that the audit was not conducted as the country lacks the skills to get the job done. However, Adams believes the administration should use as leverage the Yellowtail project which is yet to be approved to force Exxon into extending the time for the completion of the audit. Adams said to not conduct the audit could result in the giveaway of billions to the oil giant.<\/p>\n\n\n\n

Proposed law demands locals supply oil sector with materials not produced in Guyana: <\/strong>Kaieteur News<\/a><\/p>\n\n\n\n

Local Content legislation\u2026<\/p>\n\n\n\n

Guyana\u2019s proposed Local Content Bill has been condemned by some international experts as being \u2018unrealistic\u2019 and a perusal of the first schedule of the draft bill would see the assumption appearing to bear true, since it demands and reserves for Guyanese, the supply of several types of materials currently not produced in Guyana. Table four of the Bill\u2019s Schedule outlines that in ten years time, the supply of Steel Plates, Flat Sheets, Sections, Steel Pipes, Low Voltage Cables, High Voltage Cables are all to be supplied 100 percent by Guyanese companies. Guyana produces none of the items reserved as materials to be procured exclusively by Guyanese.<\/p>\n\n\n\n

One local content item that Guyana is successfully capable of handling is insurance: <\/strong>Stabroek News<\/a> (Letter to the Editor) by F. Collins, President, Transparency Institute Guyana Inc.<\/strong><\/p>\n\n\n\n

I refer to the letter in Stabroek News yesterday in which the Insurance Association of Guyana has spoken up. It is nice to see that my old association is taking a public stand in representation of the insurance industry and its capabilities, and in the process, correcting the false notion that Guyana is unprepared for so many things. People need to know that if there is one item of local content that our country is capable of handling, it is insurance and that it has been doing so successfully before anyone alive in the oil industry was born.<\/p>\n\n\n\n

Local Content: Start streamlining – Career guidance should be a necessary part of the education system | OilNow<\/strong><\/p>\n\n\n\n

https:\/\/oilnow.gy\/featured\/local-content-start-streamlining-career-guidance-should-be-a-necessary-part-of-the-education-system\/<\/a><\/p>\n\n\n\n

Another Guyanese firm looking to expand operations as demand for services surge | OilNow<\/strong><\/p>\n\n\n\n

https:\/\/oilnow.gy\/featured\/another-guyanese-firm-looking-to-expand-operations-as-demand-for-services-surge\/<\/a><\/p>\n\n\n\n

IDB says withdrawal rules for Guyana\u2019s wealth fund too complex, departs from good practices: <\/strong>OilNOW<\/a><\/p>\n\n\n\n

Guyana\u2019s development partner, the Inter-American Development Bank (IDB), suggested in a report that the government reform the withdrawal rules in Guyana\u2019s Natural Resource Fund (NRF) to make them simpler and less rigid. The advice is found in the report \u2013 \u2018Economic Institutions for a Resilient Caribbean\u2019 which was published in February. The NRF was enacted in 2019 under the previous APNU+AFC administration. At the time, the government had explained that the legal framework for the fund includes provisions for public oversight management, the nature and source of deposits, withdrawals, including Parliamentary approval, and determination of amounts to be withdrawn.<\/p>\n\n\n\n

Guyana to set targets for oil companies \u2013 NationNews Barbados<\/strong><\/p>\n\n\n\n

https:\/\/www.nationnews.com\/2021\/11\/26\/guyana-set-targets-oil-companies\/<\/a><\/p>\n\n\n\n

Guyana pegged among key non-OPEC oil suppliers – Guyana Times<\/strong><\/p>\n\n\n\n

https:\/\/guyanatimesgy.com\/guyana-peg-among-key-non-opec-oil-suppliers\/<\/a><\/p>\n\n\n\n

10 billion barrels in Guyana, 8,000 well locations in Permian making Exxon an attractive investment bet: <\/strong>OilNOW<\/a><\/p>\n\n\n\n

U.S. investment and research firm Zacks said in a recent analysis that Exxon Mobil Corporation has seen upward earnings estimate revisions for 2021 and 2022 in the past several days and so far for the year, the stock has gained 53.2%, outpacing the 35.1% improvement of the composite stocks belonging to the industry. The favourable performance is being driven by improving oil prices and recovery in the market as well as Exxon\u2019s pipeline of key projects in the Permian and the Stabroek Block offshore Guyana.<\/p>\n\n\n\n

Explorer believes eastern portion of Orinduik block can deliver significant volumes | OilNow<\/strong><\/p>\n\n\n\n

https:\/\/oilnow.gy\/featured\/explorer-believes-eastern-portion-of-orinduik-block-can-deliver-significant-volumes\/<\/a><\/p>\n\n\n\n

Oil potential in Orinduik could rival Liza field \u2013 Eco – Guyana Times<\/strong><\/p>\n\n\n\n

https:\/\/guyanatimesgy.com\/oil-potential-in-orinduik-could-rival-liza-field-eco\/<\/a><\/p>\n\n\n\n

Exxon has found an average of 1.7 billion barrels of oil per year in Guyana since 2015 | OilNow<\/strong><\/p>\n\n\n\n

https:\/\/oilnow.gy\/featured\/exxon-has-found-an-average-of-1-7-billion-barrels-of-oil-per-year-in-guyana-since-2015\/<\/a><\/p>\n\n\n\n

Guyana exports final oil cargo for 2021; 9 million barrels sold to date | OilNow<\/strong><\/p>\n\n\n\n

https:\/\/oilnow.gy\/featured\/guyana-exports-final-oil-cargo-for-2021-9-million-barrels-sold-to-date\/<\/a><\/p>\n\n\n\n

Exxon requiring 60\u201390-day payment terms amounts to Guyanese businesses financing Exxon\u2019s operations: <\/strong>News Room<\/a><\/p>\n\n\n\n

While Guyana\u2019s nascent oil and gas sector has created new business opportunities for local companies, the industry players\u2019 requirement of making payments, sometimes exceeding 90 days after providing goods and services, amounts to local businesses financing ExxonMobil and its subcontractors\u2019 operations. News Room has received complaints from several local companies, who have confirmed that ExxonMobil and its subcontractors routinely demand that businesses agree to receive their payments 60-90 days after providing their goods and services.<\/p>\n\n\n\n

Gov\u2019t \u2018working hard\u2019 to table oil laws before year-end \u2013 Bharrat: <\/strong>News Room<\/a><\/p>\n\n\n\n

With just over one month left before the end of this year, the government is working assiduously to ensure that much-needed legislation for the nascent oil and gas sector is tabled in the National Assembly. This is according to the Minister of Natural Resources Vickram Bharrat, who spoke to the News Room on Wednesday. Guyana started producing oil in December 2019, but crucial pieces of legislation are needed to ensure good management of the new sector. And President Dr. Irfaan Ali has assured citizens that the Local Content legislation and the amendments to the Natural Resources Fund (NRF) Act will both be tabled in the National Assembly before the end of the year.<\/p>\n\n\n\n

Brazil investing $68 billion over next 5 years in major oil production ramp up: <\/strong>OilNOW<\/a><\/p>\n\n\n\n

(S&P Global Platts) Petrobras will boost investment spending over the next five years amid a recovery in global demand, with development of the massive Buzios Field in the country\u2019s subsalt frontier expected to push crude oil output to 2.6 million b\/d by 2026, the Brazilian state-led oil company said. It outlined $68 billion worth of investments for the 2022-2026 period, up from $55 billion under the previous five-year plan, Petrobras said in a regulatory filing Nov. 24. About 84% of the spending will be focused on exploration and production, particularly in the subsalt frontier, according to the plan.<\/p>\n\n\n\n

Oil slides below $80 as new COVID-19 variant spooks investors: <\/strong>OilNOW<\/a><\/p>\n\n\n\n

(Reuters) \u2013 Oil prices recorded their steepest daily fall since July on Friday as a new COVID-19 variant spooked investors and added to concerns that a supply surplus could swell in the first quarter. Oil fell with global equities markets on fears the variant, which Britain said scientists considered the most significant found to date, could restrict travel and dampen economic growth and fuel demand. Brent crude fell $4.07, or 4.9%, to $78.15 a barrel by 0830 GMT.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Dr. David E. Lewis
Vice President
Manchester Trade Ltd. Inc.
International Business Advisors
2200 Pennsylvania Avenue NW \u2013 4th<\/sup> Floor
Washington, DC 20037
Tel 202-507-5669
Email: DavidLewis@ManchesterTrade.com<\/a>
Web: http:\/\/www.ManchesterTrade.com<\/a>
Skype: ManchesterTrade.Lewis<\/p>\n","protected":false},"excerpt":{"rendered":"

Investors \u2018hungry\u2019 to invest in new city – Guyana Chronicle https:\/\/guyanachronicle.com\/2021\/09\/27\/investors-hungry-to-invest-in-new-city\/ David Granger: in his season and time, he withered; opportunity lost; yet holds sway, still has a role \u2013 Demerara Waves Online News- Guyana https:\/\/demerarawaves.com\/2021\/11\/26\/opinion-david-granger-in-his-season-and-time-he-withered-opportunity-lost-yet-holds-sway-still-has-a-role\/ Guyana\u2019s oil discoveries reignite environment versus development debate https:\/\/dialogochino.net\/en\/extractive-industries\/48832-guyanas-oil-discoveries-environment-versus-development-debate-china\/ Amaila Falls Hydro project figures don\u2019t add up: Kaieteur News \u2026onus …<\/p>\n

Guyana News Updates – November 26-28, 2021<\/span> Leer m\u00e1s »<\/a><\/p>\n","protected":false},"author":2,"featured_media":2417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[48],"tags":[],"class_list":["post-2363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-comentario-del-dia"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t