Guyana Oil and Gas News

All the latest news and commentary on the new Guyana Oil and Gas sector. Topics include exploration, drilling, policy, impact and more.

Government of Guyana Green Paper on Sovereign Wealth Fund

Every Man, Woman and Child Must Become Oil-Minded (Part 57)

Introduction It has been over one month since the Ministry of Finance tabled in the National Assembly a fifty-one page document which it claims presents “preliminary proposals” to stimulate discussion on its plan for managing the flows from petroleum operations following first oil estimated to flow by the end of the first quarter of 2020.

Gov’t presses Exxon for investment in youth training

Government yesterday met with visiting ExxonMobil  Vice President, Mike Cousins and made a pitch for a partnership in improving technical and vocational skills of youth with the aim of lowering unemployment rates among the group, Minister of State Joseph Harmon says.

Eco Atlantic projecting three billion barrels oil

As it prepares to drill its first well in its offshore Orinduik Block in the last quarter of 2019, Eco Atlantic yesterday said that an independent technical report on its hydrocarbon assets estimates that there is nearly three billion barrels of oil in the block.

CARICOM scrambling for new fuel supplier

-following Petrotrin refinery closure

The closure of the Trinidadian refinery, Petrotrin has left members of CARICOM, including Guyana, scrambling to find fuel suppliers from outside the region.

‘Shell’ invests in oil sector

-Mc Doom site to store equipment

Tapping into the emerging oil and gas sector, gold magnate Nazar ‘Shell’ Mohamed has made a  big investment in a storage facility at Mc Doom on the East Bank of Demerara which is expected to serve ExxonMobil’s current offshore works.

Oil and gas decisions

In the wake of the stark duplicity and opaqueness that has characterised the APNU+AFC government’s handling of the nascent oil and gas sector, the public has been awaiting a clear sign from the administration that transparency and full engagement with all stakeholders will be its mantra.

GRA begins audit of US$460M pre-oil costs

-Exxon to submit documents by Sept 21st

ExxonMobil says it will be cooperating with the Guyana Revenue Authority (GRA) in the ongoing audit of its US$460 million pre-contract and cost recovery charges even as the company projects that the Liza-1 oil well development alone will cost approximately US$4.4 billion.

Gov’t to proceed with signing of energy cooperation MoU

The signing of the Memorandum of Understanding (MoU) on Energy Sector Cooperation between the governments of Guyana and Trinidad and Tobago, paving the way for cooperation in oil and gas between the two states, will proceed as planned next week, despite a call by the city chamber of commerce for it to be put on hold.

GO-Invest sees ‘significant’ local investments ahead of emerging O&G sector

What now appears to be the certainty of an economically transformative oil and gas industry has significantly altered international perceptions of Guyana as a prospective haven for investment and underscored the Guyana Office for Investment’s (GO-Invest) enhanced role in facilitating that external investment interest, the agency has said.

City chamber flays gov’t over local content law

-wants delay of MoU with Trinidad

Lamenting the delay in local content legislation that would give  businesses here first consideration in providing services and goods for the growing oil and gas industry, the Georgetown Chamber of Commerce and Industry (GCCI) has sent its own draft to the government.