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 6, 2022



5 including Bar Association President tipped for Public Procurement Commission: Guyana Times  
Guyana is one step closer to having the Public Procurement Commission (PPC) set up, with at least five persons being tipped to be appointed as Commissioners following the meeting of the Public Accounts Committee (PAC) Sub-Committee on Wednesday. According to information reaching this publication, those five persons are Attorney-at Law Pauline Chase; Economist Rawle Lucas; Financial Analyst Joel Bhagwandin; Berkley Wickham and Rajnarine Singh. In an interview with this publication, PAC Chairman Jermaine Figueira explained that the names will be further discussed next week.
 
Ashni, Nandlall, Bharrat to pick members for NRF Investment Committee: Kaieteur News
The PPP/ Government has made provisions for an Investment Committee to manage the oil account, but three individuals, of the seven member body will be selected by the Minister with responsibility for Finance, Dr. Ashni Singh, Natural Resources Minister, Vickram Bharrat and Attorney General, Anil Nandlall. This information is outlined in the newly gazetted Natural Resource Fund Act of 2021. According to the amended laws under Section 8 (1), three of the seven-member body, of which only five will be allowed to vote, will be appointed by the Cabinet members.
 
PNCR calls on Government to be transparent with COVID-19 situation: News Source
The party pointed out that there is a lack of access to information on the circulating variants especially whether OMICRON is in Guyana or not and there is also no available Epidemiological Data being provided by the Government. The People’s National Congress Reform, which is the largest party in the APNU+AFC Opposition Coalition, has issued a new call for the government to become transparent with the people of Guyana on the COVID-19 situation.
 
Conducting public sector transactions online among legislative transformations for Guyana – Nandlall: Guyana Times  
As Guyana embarks on its development agenda, there is need for the country’s laws to be updated to function in a modern nation; as such, Legal Affairs Minister and Attorney General Anil Nandlall, SC, has detailed a series of legislation that would be introduced this year to build the legal infrastructure. During his weekly programme – “Issues In The News” – Nandlall pointed out that the Legal Affairs Ministry has a packed legislative agenda for 2022. He said that Guyana could not be developed without a modern legal framework in place to facilitate this transformation.
  
President says schools will remain open despite COVID rise: Stabroek News  
President Irfaan Ali says that schools will not be shut even though the Guyana Teachers’ Union (GTU) has called for a closure due to the surge in COVID-19 cases in the schools. Speaking at a press briefing yesterday, Ali said that schools will not be closed although there has been a surge in COVID-19 cases in the country. According to the president, testing and precautions are being taken in the schools to stem the transmission.
  
A response to Melinda Janki: Guyana Times (Letter to the Editor) by Selwyn Persaud
I felt I had said enough on the question of judicial criticism in my recent letter, which you published in your newspaper on 3rd January 2022. I, however, feel compelled to add an addendum to my letter, so as to respond to Kaieteur News’ designated “International lawyer” Melinda Janki’s letter published in another newspaper on 4th January 2022. International lawyer Janki, in her letter, stresses the point that Mr Dharamlall is not a member of the public. He is certainly not a judge.
  
ExxonMobil makes two more oil discoveries: Stabroek NewsKaieteur News    
ExxonMobil today said it made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. In a release, the company said that the the Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located around 11 miles (18 kilometers) northwest of the Liza field. The Lau Lau-1 well found approximately 315 feet (96 meters) of high-quality hydrocarbon-bearing sandstone reservoirs. The well was drilled in 4,793 feet (1,461 meters) of water and is located approximately 42 miles (68 kilometers) southeast of the Liza field.
 
Oil reserves enhanced with new discoveries at Stabroek Block: Guyana ChronicleGuyana Times   
EXXONMOBIL, on Wednesday, announced two new oil finds which add to the over 10 billion oil equivalent barrels that exist within the Stabroek Block, offshore Guyana. The latest finds at the Fangtooth and Lau Lau wells bring the total discoveries within the Stabroek Block to 28. According to ExxonMobil, the Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located approximately 11 miles (18 kilometers) northwest of the Liza field.
  
Exxon’s latest discoveries add to 26 commercial finds in Guyana – oil minister: OilNOW
The two oil discoveries announced by ExxonMobil on Wednesday add to 26 commercial finds in Guyana which the Ministry of Natural Resources said will further strengthen the South American country’s position as a major new oil and gas hotspot. Exxon struck black gold at the Fangtooth-1 and Lau-Lau-1 wells in the prolific Stabroek Block, starting the new year with a bang ahead of first oil at its second development – Liza Phase 2 – this quarter.
 
Exxon says technology, global experience delivering unprecedented success in Guyana: OilNOW
“This is not normal.” This is how the unprecedented success ExxonMobil has been having offshore Guyana is being described by head of its operations in the South American country, Alistair Routledge. “We reached the huge milestone of declaring 10 billion oil equivalent barrels of resource that we have discovered, that’s in a short number of years, I think really, just less than six years…that we have been exploring offshore Guyana. To achieve that amount is quite outstanding,” Routledge said. On Wednesday the company announced two more oil discoveries at the prolific Stabroek Block, which according to Guyana’s Ministry of Natural Resources, now exceed 25 commercial strikes.
 
Guyana scores big again as Exxon hits two more discoveries: OilNOWVillage Voice NewsNews RoomiNewsDemerara WavesNews SourceGuyana StandardBig Smith News              
ExxonMobil and the Government of Guyana today announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located approximately 11 miles (18 kilometers) northwest of the Liza field. The Lau Lau-1 well encountered approximately 315 feet (96 meters) of high-quality hydrocarbon-bearing sandstone reservoirs. The well was drilled in 4,793 feet (1,461 meters) of water and is located approximately 42 miles (68 kilometers) southeast of the Liza field.
 
‘New oil discoveries will strengthen Guyana’s global position’ – Bharrat: News RoomDPIGuyana Standard    
Two more commercially-viable oil discoveries were announced by oil giant ExxonMobil on Wednesday and Guyana’s Minister of Natural Resources Vickram Bharrat says that the new discoveries will strengthen Guyana’s global position. He said this in a statement released on Wednesday where he reassured Guyanese that the country’s oil resources will be transparently managed.
 
Guyana closes 2021 with over US$600M in NRF – Central Bank: OilNOW
Bank of Guyana Governor, Dr. Gobind Ganga confirmed to OilNOW on Wednesday that the Natural Resource Fund (NRF) closed 2021 with US$608M on its balance sheet. He said the last lift, which occurred in November, raked in approximately US$74M. Guyana’s fifth lift was marketed by Aramco Trading Limited (ATL) which won a one-year contract to market the country’s profit oil from the Stabroek Block. OilNOW had reported that ATL was identified among several companies last year as the lowest compliant evaluated bidder at the price of $0.025 USD per lift which is estimated at approximately one million barrels.
 
ExxonMobil Guyana posted: ExxonMobil today announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located approximately 11 miles (18 kilometers) northwest of the Liza field. The Lau Lau-1 well encountered approximately 315 feet (96 meters) of high-quality hydrocarbon-bearing sandstone reservoirs. The well was drilled in 4,793 feet (1,461 meters) of water and is located approximately 42 miles (68 kilometers) southeast of the Liza field.
 
Centre for Local Business Development-Guyana posted: Baker Hughes has three open vacancies. Please see the positions and deadlines below.  1. Early Career Programme: Field Engineer (Guyana) – January 12, 2022; 2. Service Delivery Coordinator (Drill Bits) – January 12, 2022; 3. University Internships (Guyana) – STEM Programmes – Summer Opportunities 2022 – January 26, 2022
Visit www.centreguyana.com to learn more. #CentreGuyana #GreaterGuyanaInitiative #LocalContent
 
Centre for Local Business Development-Guyana posted: ExxonMobil Guyana and the Government of Guyana today announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. Check out the below article to learn more.  #CentreGuyana #GreaterGuyanaInitiative #NewDiscoveries
 
Office of the President posted: His Excellency Dr Irfaan Ali expressed his joy for Guyana and Guyanese today over ExxonMobil’s announcement of two additional oil discoveries. In an invited comment, he said: “I am very happy with every additional find that Guyana makes because it adds to our total base and to our ability in advancing the prosperity of our population and also improving our prospects of securing a prosperous future for future generations of Guyanese”. ExxonMobil announced that it had discovered oil at Fangtooth-1 and Lau Lau-1 wells in the Stabroek Block…
 
Action News Guyana posted: EXXON STRIKES MORE OIL IN STABROEK BLOCK
– Says all is on track for the Liza Unity FPSO to begin production in the first quarter of this year while work continues on Guyana’s 3rd FPSO
ExxonMobil today said it made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana…
  
Oil slips from highest level in a month as U.S. stockpiles surge: OilNOW
(Reuters) – Oil prices lost ground on Thursday, falling from their highest levels in more than a month after U.S. fuel stockpiles surged amid declining demand. The global benchmark Brent crude futures fell 63 cents, or 0.8%, to $80.17 a barrel, as of 0727 GMT. U.S. West Texas Intermediate (WTI) crude futures lost 58 cents, or 0.8%, to $77.27 a barrel. U.S. crude oil stockpiles fell last week while gasoline inventories surged more than 10 million barrels, the biggest weekly build since April 2020, as supplies backed up at refineries due to reduced fuel demand.
 
 
 
 
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