05/12  closing prices/ revised 05/16/2022 11:38 GMT  | 05/12   OPEC Basket $112.37  +3.34| 05/13    Mexico Basket (MME)  $106.36  +4.22| 03/31 ▲  Venezuela Basket $88.12  (Estimated OPEC) | 05/13   Brent July BRN00 $111.55  +4.10| 05/13 WTI  Texas Intermediate Jun CL00  $110.49  +4.36 | 05/13   Natural Gas May NGM22  $7.663  -0.076| 05/13 Gasoline Jun RBM22    $3.9578  +0.1661 |  05/13 Heating Oil  Jun  HOK22   $ 3.9212  -0.0051 |  06/13  Active U.S. Rig Count (Oil & Gas)  714  +9 | 05/16   USD/MXN Mexican Peso  $20.1013  Live data | 05/16  EUR/USD $1.0430  Live data | 05/16  USD/Bs. (Bolivar)  $4.77050000  |  –        05/12  closing prices/ revised 05/16/2022 11:38 GMT  | 05/12   OPEC Basket $112.37  +3.34| 05/13    Mexico Basket (MME)  $106.36  +4.22| 03/31 ▲  Venezuela Basket $88.12  (Estimated OPEC) | 05/13   Brent July BRN00 $111.55  +4.10| 05/13 WTI  Texas Intermediate Jun CL00  $110.49  +4.36 | 05/13   Natural Gas May NGM22  $7.663  -0.076| 05/13 Gasoline Jun RBM22    $3.9578  +0.1661 |  05/13 Heating Oil  Jun  HOK22   $ 3.9212  -0.0051 |  06/13  Active U.S. Rig Count (Oil & Gas)  714  +9 | 05/16   USD/MXN Mexican Peso  $20.1013  Live data | 05/16  EUR/USD $1.0430  Live data | 05/16  USD/Bs. (Bolivar)  $4.77050000  |  –        05/12  closing prices/ revised 05/16/2022 11:38 GMT  | 05/12   OPEC Basket $112.37  +3.34| 05/13    Mexico Basket (MME)  $106.36  +4.22| 03/31 ▲  Venezuela Basket $88.12  (Estimated OPEC) | 05/13   Brent July BRN00 $111.55  +4.10| 05/13 WTI  Texas Intermediate Jun CL00  $110.49  +4.36 | 05/13   Natural Gas May NGM22  $7.663  -0.076| 05/13 Gasoline Jun RBM22    $3.9578  +0.1661 |  05/13 Heating Oil  Jun  HOK22   $ 3.9212  -0.0051 |  06/13  Active U.S. Rig Count (Oil & Gas)  714  +9 | 05/16   USD/MXN Mexican Peso  $20.1013  Live data | 05/16  EUR/USD $1.0430  Live data | 05/16  USD/Bs. (Bolivar)  $4.77050000  |  –       

Guyana News Updates – December 8, 2021

Sponsors - 2nd Puerto Rico Grid Revitalization Forum

US continues to look for anti-graft initiatives from Guyana gov’t – Ambassador

https://www.stabroeknews.com/2021/12/08/news/guyana/us-continues-to-look-for-anti-graft-initiatives-from-guyana-govt-ambassador/

US wants Guyana govt to issue “strong anti-corruption stance”; businesses advised to pick “reputable” partners

https://demerarawaves.com/2021/12/08/us-wants-guyana-govt-to-issue-strong-anti-corruption-stance-businesses-advised-to-pick-reputable-partners/

President Ali keen on advancing relations with Spain and the Netherlands – News Room Guyana

https://newsroom.gy/2021/12/08/president-ali-keen-on-advancing-relations-with-spain-and-the-netherlands/

https://guyanatimesgy.com/guyana-looks-forward-to-multi-sectoral-collaborations-with-spain-president-ali/

Govt., Coalition guilty of hundreds of millions in overpayments: Kaieteur News

…also ‘failed to collect’ items paid for with tax dollars—AG Report Finds

The Report of the Auditor General on the Public Accounts of Guyana taking stock of the Accounts of ministries, government departments and Regions for the fiscal year ended 31st December, 2020 will on Monday be made public. Monday will see the first sitting of the National Assembly since coming out of recess which began in August last. This publication has since learnt that on Monday when the report is made public, it is expected to document the overpayment by both the PPP/C and former APNU+AFC administrations during the course of that year to the tune of hundreds of millions of dollars.

Greenidge agrees PNC/R may have lost its way; says party needs to analyze 2020 elections loss and move forward: Guyana Standard  

In the aftermath of the turbulent 2020 General and Regional Elections, perceptions have grown in some quarters that the People’s National Congress/Reform (PNC/R), the largest faction of the APNU+AFC opposition has lost its way; that it fails to be a robust check and balance on the PPP/C government. Speaking with Guyana Standard recently on this perception was former Minister of Foreign Affairs and longstanding member of the party, Carl Greenidge said he can understand why this train of thought continues to permeate the social fabric.

Guyana’s oil & gas exploration has 80% success rate – President Ali: Guyana Times  

…assures int’l community of anti-corruption measures

Oil and gas exploration activities offshore Guyana have an 80 per cent success rate and according to President Dr Irfaan Ali, all signs point to the tripling of oil production by next year, thus signalling continued growth in the sector. On Monday, President Ali used the occasion of his address to the Harvard Business School to market opportunities in Guyana. When it comes to the oil and gas sector, the President explained that Guyana has had an 80 per cent success rate when exploring for oil.

Guyana cautiously weighing refinery proposals

https://www.argusmedia.com/en/news/2281338-guyana-cautiously-weighing-refinery-proposals

EPA waives EIA requirement for hazardous waste treatment facility at Houston: Kaieteur News

The Environmental Protection Agency (EPA) has waived an Environmental Impact Assessment (EIA) for the hazardous waste treatment facility at Houston, East Bank Demerara, even though the operator, Tiger Rentals Guyana Inc. has its plant within range of residential properties and even schools. In confirming the suspicions of Environmentalist Simone Mangal-Joly, the Executive Director of EPA, Mr. Kemraj Parsram explained that while an EIA was not required, an Environmental Management Plan was submitted to the regulator. According to Parsram, “Subsequent to the Environmental Audit conducted in 2019, an Environmental Assessment was conducted to update the EMP.

O&G, investment agreements signed: Guyana Chronicle  

— as Ghana’s high-level delegation wraps up visit to Guyana

GUYANA and Ghana, on Tuesday, officially signed bilateral agreements that will pave the way for the further strengthening of co-operation between the two nations, and guide relations between sister agencies in the areas of oil and gas and investment. During a signing ceremony held at the Marriott Hotel, representatives from the two countries signed a framework agreement on co-operation; a Memorandum of Understanding (MoU) for co-operation in the petroleum sector, between Guyana’s Ministry of Natural Resources and the Ghana Petroleum Commission (GPC); and a MoU on mutual co-operation in investment promotion between Guyana’s Office for Investment (GO-Invest) and the Ghana Investment Promotion Centre (GIPC).

Guyana-Ghana Relations: Guyana Chronicle (Editorial)

THE Government of Guyana hosted a high-level delegation from Ghana which was led by Vice-President Dr. Mahamudu Bawumia. The purpose of the visit, according to President, Dr. Mohamed Irfaan Ali, is to deepen relations between the two countries and to remove hindrances to business development. At a meeting held on Monday, December 6, 2021 at the Arthur Chung Conference Centre between representatives of both governments and the private sector, the parties agreed to examine ways of bolstering bilateral relations and generating business investment opportunities.

EPA can now access satellite images of offshore flaring-Parsram: Kaieteur News

Acutely aware of the harmful environmental implications associated with flaring, Head of the Environmental Protection Agency (EPA), Kemraj Parsram has assured that steps have been taken to increase the agency’s surveillance capacity of operations aboard the Liza Floating, Production, Storage and Offloading (FPSO). At the moment, Parsram shared that detailed records on flaring are provided to the agency by ExxonMobil’s subsidiary and operator of the Stabroek Block, Esso Exploration and Production Guyana Limited (EEPGL).

There is a major structural error in Natural Resource Fund Act: Stabroek News (Letter to the Editor) by David Pollard, Pollards Et Filles (Guyana) Inc.

The Stabroek News’ recent editorial entitled `The China Loan’ suggested that Guyana’s Natural Resource Fund Act (establishing our sovereign wealth fund) required only “… some minor tweaks …” before it could safely become fully operational. I disagree. In fact, I strongly disagree. The NRF Act is deeply flawed in ways that are already having a significant impact on Guyana’s development and its response to the COVID pandemic. None of Guyana’s US$198M in oil earnings during 2020 was available to; support frontline health workers, buy vaccines, support affected businesses & unemployed workers, provide internet for online schooling etc.

Technology being secured to test Exxon’s produced water – EPA Head: OilNOW

Head of the Environmental Protection Agency (EPA), Kemraj Parsram recently disclosed that his team is working on securing technology that would boost the capacity of the agency to test produced water. In the meantime, Parsram said ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL), is doing self-monitoring on a daily basis on the Liza Destiny FPSO and reports on that process are sent to the EPA for review. Expounding further, the EPA Head said, “They have a system on board that actually monitors the produced water (i.e water that comes up a well with the oil and gas) being discharged to ensure it is in keeping with the agreed standard of 29 milligrams per liter, for example, oil in water before it is discharged.

Analyst says Guyana remains on path to massive growth but all efforts must be made to ensure rural communities aren’t left behind: OilNOW

The economic activity in the new oil producing country of Guyana is expected to continue on an upward trajectory and one analyst says the pace of this growth will really be determined by the infrastructure, incentives and framework the country puts in place as oil discoveries offshore continue to balloon. “I see the GDP per capita growing significantly, employment improving overall, foreign investment continuing to grow, and the Guyanese diaspora start coming back to the country,” Arthur Deakin, Analyst at America’s Market Intelligence (AMI) told OilNOW is a recent interview.

AMI projects Guyana will be highest per capita world oil producer by 2035

https://www.guardian.co.tt/news/ami-projects-guyana-will-be-highest-per-capita-world-oil-producer-by-2035-6.2.1424814.2a551fa56c

https://dpi.gov.gy/guyana-projected-to-be-highest-per-capita-world-oil-producer-by-2035/

ExxonMobil receives award for social responsibility in Guyana: iNews  

ExxonMobil has received the World Petroleum Council Excellence Award (WPCEA) for Social Responsibility. The objective of the WPCEA is to distinguish companies, institutions or any public or private organisation engaged in the oil and gas industry for promoting or operating with high excellence standards. Community Relations Manager, Suzie De Abreu accepted the award on the company’s behalf at the ongoing 23rd World Petroleum Congress in Houston, Texas, on Monday. “We are pleased to be recognised for our work in building Guyanese capabilities to support oil and gas and the broader economy,” De Abreu indicated.

Centre for Local Business Development-Guyana shared OilNOW article: ExxonMobil Guyana received the World Petroleum Council Excellence Award for Social Responsibility by the World Petroleum Council. This award was given for their efforts to build economic capacity and protect the environment in Guyana such as through funding projects under the Greater Guyana Initiative that helps to build local capacity. The work of the Centre is included in this noteworthy achievement. #CentreGuyana #GreaterGuyanaInitiative #LocalContentDevelopment https://oilnow.gy/…/exxon-awarded-for-efforts-build…/

Guyana champions low carbon strategy at World Petroleum Congress

https://newsroom.gy/2021/12/08/guyana-champions-low-carbon-strategy-at-world-petroleum-congress/

COVID has hit the Caribbean and Latin America hard. But Haiti is feeling the brunt

https://www.miamiherald.com/news/nation-world/world/americas/haiti/article256408681.html#storylink=cpy

“An Uneven Recovery: the Impact of COVID-19 on Latin America and the Caribbean”

https://www.worldbank.org/en/news/press-release/2021/11/29/una-recuperacion-desigual-secuelas-de-covid19-latinoamerica-caribe

Francisco Seminario fseminario@worldbank.org

Ana Maria Currea. Head of Communications UNDP in Latin America and the Caribbean ana.maria.currea@undp.org

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

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