GUYANA: OIL: The Natural Resource Fund Act: ZOOM Panel Discussion
January 29, 2022 – Moray House Trust | Guyanese Online
https://guyaneseonline.net/2022/01/25/guyana-oil-the-natural-resource-fund-act-zoom-panel-discussion-january-29-2022-moray-house-trust/


Oil Dorado? Guyana’s Black Gold | Live Book Launch
YouTube Tuesday February 1, 2022
https://www.youtube.com/watch?v=W16jk0BdSZY
Confirmed panelists Professor Anthony Bryan, Christopher Ram, Sanjeev Datadin MP, Dr Tulsi Dyal Singh, Ambassador Riyan Insanally, Professor Terrence Blackman, Sally Gibson and GHK Lall

 
Guyana Energy Conference and Expo 2022
February 15-18, 2022
https://guyanaenergy.gy/speakers/
150 companies, four heads of state confirmed for February energy conference | OilNow
https://oilnow.gy/featured/150-companies-four-heads-of-state-confirmed-for-february-energy-conference/


BOOK: From Rags to Riches: Is Guyana Ready for the Oil Bonanza? – by Terence M Yhip  | Guyanese Online
https://guyaneseonline.net/2022/01/24/book-from-rags-to-riches-is-guyana-ready-for-the-oil-bonanza-by-terence-m-yhip/
https://www.amazon.ca/Rags-Riches-Guyana-Ready-Bonanza/dp/B08SGWNDQF



47.5% growth projected for 2022:Stabroek News
-as $552.9b ‘oil money’ budget presented
With large injections of revenue from the oil and gas sector, Guyana is expected to grow its economy by 47.5% while inflation is pegged at 4.1% for 2022, according to Senior Minister in the Office of the President with responsibility for Finance Dr Ashni Singh. Singh announced the projection when he presented the country’s first budget utilizing its earnings from the  oil and gas sector. Budget 2022, pegged at $552.9 billion is a whopping 44.3% larger than last year’s and 36.6% above total expenditure for 2021. It is important to note that this budget is partly financed by the US$607.6 million ($126.7 billion) in earnings from activities offshore Guyana.

Budget measures announced by Minister of Finance:Stabroek News
In the interest of ensuring that Guyanese businesses can compete successfully under the new local content framework in the oil and gas sector, the Government will take steps wherever practicable to minimise disparities arising from the tax system that will disadvantage Guyanese businesses against their international counterparts. This will help improve the competitiveness of Guyanese companies, help secure business opportunities for them, and thereby create jobs for Guyanese nationals.

Budget 2022 an economic ‘booster shot’ – Reg. 3 Business Chamber – News Room Guyana
https://newsroom.gy/2022/01/27/budget-2022-an-economic-booster-shot-reg-3-business-chamber/

APNU+AFC fears losing more supporters once transformational gas-to-shore project comes on stream – Minister Bharrat: Guyana Standard
The APNU+AFC’s resistance as well as its parliamentary tactics aimed at stymieing the US$900M gas-to-shore project only exposes its obvious fear of losing more supporters that stand to benefit from this transformational project. This was the essence of the arguments proffered by Natural Resources Minister, Vickram Bharrat during his contribution on Monday night in the National Assembly. Under consideration at the time was a motion by Opposition Parliamentarian, David Patterson to have the project placed on hold until the Standing Committee of Natural Resources conducts several comprehensive studies on the project’s feasibility and environmental soundness.

Landmark $552.9B Budget presented to House:Guyana Chronicle
— launches most rapid period of transformation, modernisation in Guyana’s history, says Dr. Singh
THE year 2022 is set to go down in Guyana’s history as one of the most significant periods ever, with plans in place to inject some $552.9 billion into the economy through various initiatives that would rapidly transform and modernise the nation. This sum, which constitutes the government’s fiscal plan for this year, is some 44.3 per cent larger than Budget 2021 and 36.6 per cent above total expenditure last year, according to Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh, during his presentation of Budget 2022 to the National Assembly, on Wednesday.

People-oriented $552.9B mega- budget to kickstart modernisation – Guyana Times
https://guyanatimesgy.com/people-oriented-552-9b-mega-budget-to-kickstart-modernisation/

Budget 2022 proposes withdrawals from US$607.6M oil fund: iNews
Senior Minister with responsibility for Finance Dr Ashni Singh today announced that Budget 2022 proposes the first withdrawals from the Natural Resources Fund which currently has a balance of US$607.6M. He made the announcement during his presentation of Budget 2022 under the theme “Steadfast Against All Challenges, Resolute in Building Our One Guyana”. The presentation is ongoing at the Arthur Chung Conference Centre (ACCC). The withdrawals, he noted, will be in keeping with the strengthened legislative framework governing the NRF.

Gas to energy project to receive $20.8b:Stabroek News
-oil revenues this year projected at US$957.6m
With a massive $20.8b earmarked for the planned gas to energy project, the historic tapping of US$607.6m in oil revenues is the major financier of the 2022 budget and the government is projecting a further US$957.6m in petroleum revenues this year. Minister of Finance, Dr. Ashni Singh yesterday said that of the $552.9b Budget, the US$607.6M and the US$54m balance received from Norway under the GRIF facility contribute more than half of this  year’s budget at $301.3 billion.

Parliament to consider two nominees for oil fund boards: Guyana Standard
The National Assembly, via its Committee on Appointments, will now have the opportunity to consider and propose two nominees for the President to appoint on keyboards governing Guyana’s Natural Resource Fund (NRF). This follows the successful passage of a motion moved on Monday night by Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh. His motion called for the Committee on Appointments to recommend a nominee to serve on the NRF’s Board of Directors as stipulated in Part III of the Act and for another nominee to serve on the Public Accountability and Oversight Committee (PAOC) in pursuant of Section VI of the new Act.

$420.5M set aside to train 1000 Guyanese for oil sector: Kaieteur News
Budget 2022…
– $260M to build training facility
In order to ensure this country has a pool of Guyanese equipped to take up jobs in the oil and gas industry, budget 2022 has allocated $420.5 million to train 1,000 workers in a wide range of areas relevant to the sector. This was noted on Thursday during the reading of Guyana’s 2022 budget by Finance Minister, Dr. Ashni Singh. Under this programme, Dr. Singh said training and certification will be provided to welders, stevedores, heavy-vehicle operators, and others. He said this programme will continue into the medium-term and will see up to 4,500 persons trained over the next four years.

Guyana projected to earn over US$950M from oil sector in 2022: Kaieteur News
With two oil ships on schedule to be working simultaneously this year in the Stabroek Block, Guyana’s oil sector is expected to rake in over US$950M for 2022. This is outlined in the 2022 budget that was presented yesterday by Finance Minister, Dr. Ashni Singh in the National Assembly. The economist who spoke for over five hours, said it is anticipated that there will be 94 lifts from the Stabroek Block, 13 of which will be Government lifts.

Stabroek Block operators deploy six drill ships to define more oil wells: Kaieteur News
“Drill baby, baby drill!!!”
– As latest discoveries projected to hold half a billion barrels of resources
Hess Corporation on Wednesday disclosed during its fourth quarter earnings call for 2021 that six drill ships have been deployed to various parts of the Stabroek Block to define and test more oil wells. The company said this comes on the heels of the two significant finds made earlier this year by ExxonMobil’s affiliate and operator of the block, Esso Exploration and Production Guyana Limited (EEPGL). The finds are so considerable that Rystad Energy, an international consultancy group, estimates that together, the two discoveries—Fangtooth and Lau Lau alone—could hold half a billion barrels of oil resources.
 
Oil to drive historic 47.5% GDP growth for Guyana; world’s highest forecast for 2022 – finance minister: OilNOW
Senior Minister with responsibility for Finance in Guyana, Dr. Ashni Singh disclosed on Wednesday during the reading of his GY$552.9 billion (US$2.76 billion) 2022 budget that Guyana’s real GDP is projected to grow by 47.5 percent; a rate of growth no other country in the world is currently projected to achieve in 2022. He said this reflects the coming into operation of the second FPSO vessel, the Liza Unity, which will significantly ramp up oil production to 340,000 barrels of oil per day.
https://www.inewsguyana.com/oil-production-to-fuel-47-5-projected-growth-in-guyanas-gdp/

Deepwater action pushing major shorebase developments in Guyana: OilNOW
More shorebase facilities are being developed to serve Guyana’s rapidly expanding oil and gas sector with construction set to commence on two more projects on the West Bank of Demerara sometime this year. Senior Minister with responsibility for Finance, Dr. Ashni Singh made the disclosure during his 2022 National Budget Presentation on Wednesday.  There, Dr. Singh encouraged private investors to develop port facilities at the mouth of Guyana’s main rivers to service the oil sector’s expansion.

Guyana’s energy sector gets GY$29.4B in National Budget to kick start hydropower, solar projects: OilNOW
Guyana’s industrial development has been stymied by “inadequate, unreliable, costly, and environmentally unfriendly energy” for too long but with some GY$29.4 billion (US$147 million) set aside for the country’s energy sector, that is about to change. Senior Minister with responsibility for Finance, Dr. Ashni Singh outlined in Wednesday’s budget presentation that the funds will see the construction of several energy projects including the government’s flagship Ameila Falls Hydropower Project scheduled to start this year.

Cleaner, cheaper energy: Construction on Amaila Falls Hydro Project to start this year – Guyana Times
https://guyanatimesgy.com/cleaner-cheaper-energy-construction-on-amaila-falls-hydro-project-to-start-this-year/

Guyana intends to become a global leader in environment and agriculture -President Ali – Department of Public Information
https://dpi.gov.gy/guyana-intends-to-become-a-global-leader-in-environment-and-agriculture-president-ali/

Guyana government to pump GY$20.8 billion into landmark gas-to-energy project: OilNOW
The Guyana government presented its 2022 National Budget on Wednesday in the National Assembly where it was disclosed that GY$20.8 billion dollars is being earmarked for the landmark gas-to-energy project. With the country’s energy demand expected to grow within the next five years, the government has eyed the reduction of electricity costs by 50 percent through the use of natural gas. And it will also help to phase out the use of expensive and carbon-intensive heavy fuel oil.

Oil drives Guyana’s export earnings to massive 68% increase: OilNOW
At the end of 2021, Guyana’s total export earnings amounted to US$4,352 million, 68 percent higher than the US$2,590 million earned in 2020. According to the country’s Finance Minister, Dr. Ashni Singh during his 2022 budget presentation on Wednesday, this was mainly driven by oil exports growing by 179.6 percent to US$2,975.5 million amid increases in both volume and price. With respect to non-oil export earnings, he said this amounted to US$1,376.5 million.

Exxon next month to begin pumping from 2nd Guyana oil platform: News Room
(Reuters) Exxon Mobil Corp. next month plans to start production at its second oil platform in Guyana, a person familiar with the matter said on Tuesday. Guyana is one of Exxon’s top bets for production growth. Its recent discoveries are expected to drive recoverable oil and gas volumes beyond 10 billion barrels, the person said. The second vessel, Liza Unity, will almost triple the South American country’s production this year to 340,000 barrels of oil and gas per day from about 120,000 bpd.

First shipment of manganese slated for March, says finance m… | MENAFN.COM
https://menafn.com/1103604152/First-shipment-of-manganese-slated-for-March-says-finance-minister

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