HOUSTON, (Reuters) – Top oil executives and ministers descend on Houston this week for one of the world’s biggest energy conferences emboldened by blockbuster mergers, stable oil prices and less pressure for a large-scale move to clean fuels.
Introduction
This week’s column addresses the fourth and final driver along with its modeled metrics; namely, operational cost of oil production share ratios in Guyana.
HOUSTON (Reuters) – Chevron CEO Michael Wirth is facing a head-to-head match with Exxon Mobil with his US$53 billion bid for Hess and its stake in oil hotspot Guyana, and could wind up trapped in a dispute between two of South America’s biggest energy rivals.
Introduction
The Ali Administration has been promising continually that an independent, competent Petroleum Commission will be appointed to oversee the operations of the oil and gas sector.
Exxon is no stranger to politics. It understands the importance of billboards (India and Guyana) and the politics of Buses (the USA and the Tories Brexit bus).
(Reuters) – Investors that use shareholder resolutions to pressure companies on environmental and social issues said they are worried that an Exxon Mobil XOM.N
Lindsayca + CH4 (LNDCH4 Guyana), the US company that will be executing the country’s ambitious gas-to-energy project today announced it is seeking to hire 100 persons here this year.
An application for proof that ExxonMobil has lodged a US$2 billion guarantee which is intended to indemnify Guyana against an oil spill and associated perils, is being resisted by the Environmental Protection Agency (EPA) and the oil company, which are contending that the court has no jurisdiction to so order.
The infamous tax certificates
We recall from Column 119 that while the tax is paid by the Government of Guyana, the oil companies receive from the Guyana Revenue Authority ‘proper tax certificates’ in their names.
Introduction
On the occasion of the first column for 2024, I extend best wishes to readers for an informed and productive year and realisation of the hope of a fairer contract.
Introduction, proximate origin
Some bizarre motives have been attributed to me for naming the suggested UBI mechanism for eradicating persistent poverty in Guyana the Buxton Proposal.
Leader of the Parliamentary Opposition Aubrey Norton has used his New Year’s message to accuse the PPP/C government of becoming more incompetent and more divisive while thundering that the country’s oil wealth is only benefitting the PPP/C elite, friends and families.
President Irfaan Ali on Friday unveiled plans to facilitate the training of 2,000 Guyanese youths in nearshoring, which he believes holds tremendous potential and has urged ExxonMobil Guyana to make these opportunities available.
Civil society group, the Oil and Gas Guyana Network (OGGN) has raised questions about the depth of an audit of US$7.3b in ExxonMobil expenses for the years 2018 to 2020 but said that even the basic findings warrant a full-scale forensic examination being commissioned by the government.
Chevron has agreed to buy Hess for US$53 billion in stock to gain a bigger US oil footprint and a stake in rival ExxonMobil’s massive Guyana discoveries in a move which will bring another US super-major to the Stabroek Block.