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 – January 28-30, 2022

Oil Dorado? Guyana’s Black Gold | Live Book Launch

YouTube Tuesday February 1, 2022

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

  1. 150 companies, four heads of state confirmed for February energy conference | OilNow

South American body supports Guyana’s call for int’l law to resolve disputes – News Room Guyana

Guyana to become global leader in environment and agriculture – Pres. AliiNews

President Dr. Irfaan Ali said that Guyana is working on an international agenda that will propel the country to become a global leader in several areas, including the environment and agriculture. The Head of State made the declaration last evening while delivering the feature address at India’s 72nd Republic Day Anniversary Reception at the National Cultural Centre. He said that the country would look to emulate India on its leadership qualities, especially through Guyana’s expanded Low Carbon Development Strategy and its current international commitments on environmental management.

Guyana loan portfolio to double this year: Kaieteur News

Minister with responsibility for Finance in the Office of the President, Dr. Ashni Singh, on Wednesday presented to the National Assembly the estimates for this year at $552.9B inclusive of loans—a loan portfolio that is projected to double this year. According to the “Estimates”, Guyana’s loans and grant stock portfolio is expected to be some $37B this year, up from $17B last year. The loan aspect of this portfolio, however, is expected to double moving from $13.6B last year to $26.8B this year.

Transparency Corruption Perceptions Index: Stabroek News (Editorial)

Three days ago the Transparency International Corruption Perceptions Index Report of 2021 was released.  It covers the first full year of the PPP/C’s current term in office, although the Guyana results are not that much different from the previous year. In the 2020 Index Guyana scored 41 points and was recorded as having moved up 13 places since 2012. This year’s report revealed a score of 39 for this country, a decline of two points, and a rank of 87 in the listings, representing a downward move of two places.

Guyana’s oil: The price is right…for now – Stabroek News

In four years, Guyana expects oil revenues twice the size of its 2022 Budget – Department of Public Information

Budget 2022: Pres. Ali touts investment in agriculture as foundation for long-term productivity – News Room Guyana

The Natural Resource Fund Series: Part 2 | OilNow

Hess, Exxon hurry to appraise latest multi-million barrel discovery at Lau Lau well: Kaieteur News

– excited to understand scale of future profits

Earlier this month, Kaieteur News had reported that partners on the Stabroek Block—ExxonMobil, Hess Corporation, and CNOOC Petroleum Limited— recorded two more major discoveries in the offshore concession. These were made at the Fangtooth and Lau Lau wells. But given preliminary forecasts that the finds, hold approximately half a billion barrels of oil resources, the partners are now hurrying to conduct appraisal work so as to have a better understanding of the scale of profits they stand to make in the future.

Govt. mum on gas-to-shore sales pact between Exxon: Kaieteur News

The Shadow Oil and Gas Minister, David Patterson who tabled a motion on the US$900 million Gas-to-Shore Project says he is disappointed that the governing People’s Progressive Party (PPP) did not utilise the opportunity to dispel negative rumours of the project, but instead still leaves several burning questions unanswered, especially with regard to the sales agreement of the massive project. In the wee hours of Tuesday morning, the motion tabled by Patterson seeking for the project to be put on hold, pending comprehensive studies was defeated, with 32 members voting against the request, 27 in favour and one abstention.

Exxon to pump 1st oil from Liza Unity by March month-end: Guyana Times  

…Guyana to earn US$957.6M from oil sector this year

With the Guyana Government using the Natural Resource Fund’s $126.7 billion to finance the massive 2022 budget, the country is set to earn another whopping US$957.6 million from the oil and gas sector this year. This is according to Senior Minister with responsibility with Finance Dr Ashni Singh, during his presentation of the $552.9 billion budget for the 2022 fiscal year. He noted that the projected inflows from the petroleum industry this year is expected to be more than the US$607.6 million Guyana has earned thus far.

ExxonMobil to Start Production from Second FPSO in Guyana next month

https://www.oedigital.com/news/493871-exxonmobil-to-start-production-from-second-fpso-in-guyana-next-month

Guyana on track to rake in around US$90 million for first oil lift this year | OilNow

Payara project 66% complete; start-up on track for 2024 | OilNow

Govt. talks up insurance in budget, but ignores coverage for ‘oil spill’: Kaieteur News

The importance of insurance for families and households was passionately touted during the reading of this year’s budget, but there was no mention of an effort to secure insurance for the oil operations in the Stabroek Block. Addressing the National Assembly during his third Budget presentation since taking office, Finance Minister, Dr Ashni Singh, in announcing as part of measures of relief for Guyanese, noted that as more citizens “enter the world of work and start earning an income, and as their disposable incomes increase, they become better able to make provision for unforeseen adverse circumstances, such as by taking out life and medical insurance.”

Deeper targets could delivery big volumes in Guyana this year: OilNOW

For 2022, Hess Corporation’s Chief Operating Officer (COO), Greg Hill said a number of exploration wells are planned for the Stabroek Block. During the company’s Q4 2021 Earnings Call, he said these include Barreleye-1, located approximately 20 miles southeast of Liza. Hill said the primary target is the lower Campanian with shallow and deeper secondary targets while noting that the well spud was on December 30, 2021. As for Tarpon-1, Hill said this target is located approximately 63 miles northwest of Liza, and will target lower Campanian clastic, plus a deeper Jurassic carbonate.

Hess upbeat on earnings as drill campaigns move forward at Stabroek Block: OilNOW

American exploration and production multinational, Hess Corporation, reported on Wednesday said that it had a net income of US$265 million, or US$0.85 per share, in the fourth quarter of 2021, compared with a net loss of US$97 million, or US$0.32 per share, in the fourth quarter of 2020. On an adjusted basis, the company said it incurred a net loss in the prior-year quarter of US$176 million, or US$0.58 per share. It said the improvement in adjusted after-tax results compared with the prior-year period was primarily due to higher realized selling prices in the fourth quarter of 2021.

Govt to minimise tax disparities between locals & foreigners in oil sector: iNews

The Guyana Shore Base Inc. (GYSBI) which is GYSBI is a Guyanese company, focused on supporting the offshore oil and gas industry in Guyana. Senior Minister in the Office of the President with responsibility for finance, Dr. Ashni Singh said government intends to address disparities in the tax system which have disadvantaged local companies against their foreign counterparts in the oil and gas sector. He made the statement during his presentation of Budget 2022 on Wednesday. “This will help improve the competitiveness of Guyanese companies, help secure business opportunities for them, and thereby create jobs for Guyanese nationals,” the Minister said.

GOGEC calls for more Private Sector participation in energy shift – Guyana Times

Displacement of Guyanese by foreign workers a major concern – GAWU – Guyana Times

Guyana- Suriname private sector council in the works – News Room Guyana

Emerging Guyana Oil and Gas Market Segments in 2022 by Exxon Mobil Corporation, Hess Corporation, CNOOC International and CGX Energy. – Bristol City Supporters Trust

https://bristolcityst.org.uk/emerging-guyana-oil-and-gas-market-segments-in-2022-by-exxon-mobil-corporation-hess-corporation-cnooc-international-and-cgx-energy/

Private Sector praises Budget 2022 for pro-competitiveness measures – Guyana Times

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


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