Dear Readers, We deeply regret having been offline for several days due to a technical issue that has now been resolved. We are still facing some minor issues that we hope will not interfere with the quality of the information provided. 
ExxonMobil makes two further finds offshore Guyana | Argus Media
Hess Announces Two Discoveries Offshore Guyana | Business Wire
Guyana scores big again as Exxon hits two more discoveries | OilNow
ExxonMobil makes two more oil discoveries offshore Guyana – Demerara Waves Online News- Guyana
‘New oil discoveries will strengthen Guyana’s global position’ – Bharrat – News Room Guyana
Guyana Is Taking Control Of Its Oil Boom | OilPrice.com
Hours after oil law passed, Ashni Singh signed Order to start withdrawing: Kaieteur News
One day after Head of State, President Irfaan Ali, signed into law the Natural Resource Fund Act, Senior Minister within the Office of the President with responsibility for Finance, Dr. Ashni Singh, signed the official Order, bringing the Act into operation. The contentious Natural Resource Fund Bill of 2021 was approved during a raucous session of the National Assembly on December 29, last. The President a few hours later ‘secretly’ assented to the Bill on December 30, while calling in the press, private sector and other stakeholders to witness the assent of a second Bill, the Local Content Bill, into law on December 31.
President will soon tell nation more about NRF board selections – AG: Stabroek News
Attorney General Anil Nandlall says that President Irfaan Ali will soon tell the nation more about the directors of the board to be established for the Natural Resource Fund. Nandlall says that the process will be no different from formulas outlined in other laws. “The Bill says not more than five not less than three, it means the President can appoint. He will say as he deems fit. The legislation has given the President that prerogative. There is nothing unusual about that. That is a formula that is used on a regular basis,” Nandlall told Stabroek News yesterday when contacted for an explanation of the selection mechanism.
Guyana in preparation mode for border case at ICJ in March: Guyana Times
– President says no rest in protecting Guyana’s territorial integrity
With the dawning of the new year, assurances have been given that Guyana is in preparation mode for its border case at the International Court of Justice (ICJ), where Guyana will submit its memorial on the border controversy with Venezuela in March. During his New Year message, President Dr Irfaan Ali spoke of his Government’s preparations for the Guyana-Venezuela border controversy case. Specifically, Guyana was given the date of March 8, 2022, to submit its memorial on the case to the ICJ.
Passage of controversial NRF bill highlights crucial need for constitutional reform – Deputy Speaker: Stabroek News
The controversial passage of the Natural Resource Fund (NRF) Bill in the National Assembly on December 29, 2021, highlights the desperate need for constitutional reforms as well as the review and updating of the Parliamentary Standing Orders, according to Deputy Speaker Lenox Shuman. The sentiments were expressed in what would have been Shuman’s contribution to the NRF bill’s debate in the National Assembly had the A Partnership for National Unity+Alliance For Change (APNU+AFC) coalition not disrupted the sitting. The APNU+AFC through its Members of Parliament, particularly Annette Ferguson, snatched the ceremonial mace in their bid to protest the bill.
Forceful passage of NRF Bill breaches transparency standards – OGGN: Kaieteur News
The ‘forceful’ passage of the legislation governing the oil account is in breach of transparency standards and an international agreement Guyana adopted since 2018 that speaks to the inclusion of the public, and access to information – two key ingredients that were lacking when the Bill was passed in the National Assembly on December 29, 2021. This is according to the Oil and Gas Governance Network (OGGN), an agency founded by specialists across the globe and that has been keeping watch on Guyana’s oil sector.
We fell at every hurdle of the NRF bill process: Stabroek News (Letter to the Editor) by Isabelle de Caires
The average citizen, preoccupied with Covid and the day-to-day struggle, may well wonder at all of the fuss over the recent passage of the Natural Resource Fund Bill. I have said, repeatedly, that the influx of oil funds represents a sustained stress test of Guyana’s fledgling democracy. The drafting, processing and passage of the Natural Resource Fund Bill 14 (of 2018) and the amended version (Bill 20 of 2021) show the limits of democracy in Guyana: we fell at every hurdle.
OGGN encourages gov’t to convene national consultations and make amendments to NRF Act: Stabroek News (Letter to the Editor) by Darshanand Khusial & Dr. Jerry Jailall for Oil and Gas Governance Network (www.OGGN.org)
The Oil and Gas Governance Network (OGGN) is extremely disappointed that the Government of Guyana has rushed through the passing of the Natural Resource Fund (NRF) Act without consultation with the parliamentary Opposition or other civil society stakeholders. For such an important bill described as the “mother of all bills,” that governs how the country’s oil revenue will be spent, a national consensus is essential versus the Government imposing its Act without involving national stakeholders and without parliamentary debate.
Guyanese ‘hustle’ could now become executive businesses: Guyana Chronicle
–with Local Content Legislation, Minister Edghill says
THE passage of the landmark Local Content Legislation paves the way for thousands of Guyanese to transform their mere “hustle” into thriving executive businesses, Minister of Public Works, Juan Edghill, has said. He outlined the opportunities that will follow the promulgation of this legislation during his defence of the document in the National Assembly, on Wednesday, prior to it being signed into law by President Dr. Irfaan Ali. The minister estimates that in the coming years, the continued growth of the oil and gas industry will result in magnanimous development across every single sector in Guyana.
Exploitative Exxon contract torturously unfair — Int’l Lawyer: Kaieteur News
…is already making vast majority of Guyanese poorer, not richer
…but the politicians always do well in countries that produce oil
The “exploitative” Production Sharing Agreement (PSA) that was signed between Guyana and three small offshore companies, Esso Exploration and Production Guyana Limited (EEPGL)—ExxonMobil Guyana—Hess Guyana Corporation and China National Offshore Oil Company (CNOOC), is in fact already making the vast majority of Guyanese poorer, not richer. This was the conclusion expressed recently by international attorney-at-law, Melinda Janki, who in a recent online interview on the Oil and Gas Network in Guyana, posited, “…oil is (already) making Guyana poorer, not richer, this isn’t simply my opinion; this is the market.”
Guyana could become gas export hub: Guyana Chronicle
–Co-Director of Energy Practice at Americas Market Intelligence
OWING to major discoveries of oil offshore Guyana, the country is not only on course to becoming a major producer of this lucrative resource, but it is also set to become a major export hub for gas — an accompanying resource discovered while drilling wells. Already, the nation which is nestled at the edge of South America, has earned over US$534 million in direct revenue from its burgeoning oil and gas sector. And based on preliminary assessments of the Stabroek Block offshore Guyana, the producer, ExxonMobil, believes that there is scope for 10 projects, which could generate billions of U.S. dollars in revenue for Guyana over the coming years.
Liza Unity start-up, gas-to-energy FID among major projects for Exxon this year – Routledge: OilNOW
Guyana’s oil production will almost triple this year as the state-of-the-art Liza Unity floating production storage and offloading (FPSO) vessel comes on stream, adding to the output from its sister unit, the Liza Destiny. ExxonMobil is also looking to make a Final Investment Decision (FID) on the landmark gas-to-energy project in the first half of the year which is set to significantly reduce the cost of electricity in the South American country and open up multiple new industries.
EPA real time monitoring system to be launched soon: OilNOW
Guyana’s Environmental Protection Agency (EPA) will soon launch a new technology system that will allow it to monitor the offshore exploration and production activities in real time. OilNOW understands the system is being tested and is likely to be officially launched in the coming days. Executive Director of the agency, Kemraj Parsram, told OilNOW in a previous interview the objective is to have a system in place that would allow for remote monitoring that in turn would negate the need to have a large team offshore 24/7.
CNOOC brings two new oil fields into production: OilNOW
CNOOC Limited says Caofeidian 11-6 oilfield expansion project and Kenli 16-1 oilfield have commenced production. Caofeidian 11-6 oilfield expansion project is located in the west of Bohai Sea, with average water depth of about 23 meters. In addition to fully utilizing the existing processing facilities of Caofeidian 11-6 oilfield, the project has built a new unmanned wellhead platform. A total of 9 development wells are planned, including 7 production wells and 2 water injection wells. The project is expected to reach its peak production of approximately 4,600 barrels of crude oil per day in 2022.
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
