Guyana Oil and Gas News

ExxonMobil’s second-quarter profits are expected to steeply increase making it one of the strongest quarters in the US oil producer’s history, according to Wall Street analysts.

Venezuela will begin supplying several CARICOM countries with oil as regional heads have agreed to resume the PetroCaribe agreement and have called for the end to US sanctions that brought it to an end, says Ralph Gonsalves, the Prime Minister of Saint Vincent and the Grenadines.

Both the government and ExxonMobil seem to be moving ahead with their plans for the gas-to-energy project despite the absence of an environmental permit from the EPA.

Introduction In this Part 99, we address our attention to the 2021 audited financial statements of Hess Exploration and Production Guyana Limited (the branch) which despite its name, is in fact a branch of a Cayman Islands incorporated subsidiary of the American oil major Hess Corporation headed by John Hess.

ExxonMobil Guyana is seeking suppliers that can construct the planned Guyana Technical Training College in Port Mourant, Region Six (East Berbice-Corentyne).

HOUSTON,  (Reuters) – Exxon Mobil Corp XOM.N today signaled earnings from its oil and gas output will rise as much as US$3.3 billion in the second quarter.

President Irfaan Ali yesterday pleaded with Guyana’s citizenry to trust his government to give them a gas-to-shore project that will bring not only lower power costs but put savings into their pockets while expanding development and prosperity for the nation.

The Environmental Assessment Board (EAB) yesterday held a hearing on the appeal of EPA decisions not to have impact surveys for ExxonMobil’s planned exploration in the offshore Canje and Kaieteur blocks.

Following much debate about Guyana’s petroleum tax regime and cost recovery, tax chief Godfrey Statia has said that the 2% royalty paid to the government under the 2016 production sharing agreement with ExxonMobil Guyana is not cost in determining the country’s share of profit oil but rather an expense in determining the contractors’ taxable income.

This is the ninth entry in a series on the current state of civil society in Guyana Civil society activist Yog Mahadeo says the 2016 oil agreement between the government and ExxonMobil is like the proverbial knee on the necks of Guyanese and the group he is part of has the right to advocate on matters of public interest in line with Article 13 of the Constitution.

Introduction Today’s column wraps-up my highlighting of the role of governance of Guyana’s  emerging oil and gas sector as an indicator of its prevailing condition.

Recent discussions surrounding the cost recovery provision in the oil contract and the possible renegotiation served as motivation for this column.

Just about two months after it inked a pact with ExxonMobil to lease its planned US$300 million shore base facility to support its offshore oil operations, local consortium NRG Holdings Incorporated, on Tuesday, turned the sod to officially commence construction of the facility.

By Melinda Janki Melinda Janki is an attorney-at-law practising in Guyana and an international lawyer who has worked in over 20 countries.

(Part 97) It is more than five months since the 96th column was published in the Stabroek News on January 22nd of this year.

ExxonMobil yesterday said that the gas compression and injection systems on the Liza Unity Floating Production, Storage and Offloading (FPSO) vessel have been safely commissioned in around half the normal industry time and has achieved background flare as designed and within the 60-day period outlined in the Liza Phase 2 Environmental Permit.

In keeping with Canadian company CGX’s relinquishment provision in its contract, the Guyana government on Wednesday said that a notice of blocks to be given up will be provided soon and added to this country’s first-time auction scheduled for September. 

Declaring a staggering $132B profit for the fiscal year 2021, ExxonMobil’s local affiliate Esso Exploration and Production Guyana Limited (EEPGL) yesterday said that it was the first it had made since it entered this country 23 years ago.

With concerns raised by several sections of society as it relates to both the cost and plan for the decommissioning stage of Esso Exploration and Production Guyana Limited’s (EEPGL) developments offshore Guyana, the company says that all associated costs will be their responsibility.

Introduction Today’s column has two aims. First, wrapping  up my appraisal of the TIGI’s assertion that granting licences for 317 blocks, instead of 60 blocks, as the PSA requires, has had catastrophic domino consequences for Guyana’s emerging oil and gas  sector.