Overview With the fast approaching date for ‘first oil”, our local content policy, still to be announced, is urgently required.
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.
President David Granger says the Memorandum of Understanding on Energy Sector Cooperation to be signed between Guyana and Trinidad and Tobago is not a secret document and he will ask that it be made public.
LONDON, (Reuters) Total says has exercised option to buy a 25 pct interest in Orinduik exploration block offshore Guyana.
Twenty-four men last evening, graduated from the TOTALTEC Academy with certificates that equip them to join Guyana’s emerging oil and gas industry.
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.
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.
The closure of the Trinidadian refinery, Petrotrin has left members of CARICOM, including Guyana, scrambling to find fuel suppliers from outside the region.
Guyana should sell its crude oil for refining at the best market price and whatever is in its best interest says Dr Thackwray “Dax” Driver, Chief Executive Officer of the Energy Chamber of Trinidad and Tobago (T&T).
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.
The Georgetown Chamber of Commerce and Industry (GGCI) will be looking carefully at the Green Paper on the proposed Sovereign Wealth Fund (SWF) as it has found a lot of “leakages from the start to end”, its President Deodat Indar says.
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.
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.
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.
Former presidential advisor Jan Mangal has warned that while cash payouts from oil revenue may have an important role to play in the future, at this point it could be a distraction from the larger goal of clawing back wealth.
Leader of the Opposition Bharrat Jagdeo yesterday said the MoU for technical cooperation between Guyana and Trinidad and Tobago should be made public.
Dear Editor, How could we have billions of barrels of oil in 2018 and not be able to pay our teachers a living wage?
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.
Introduction The 2016 Petroleum Agreement has been a source of grief, anger, disbelief and shock to the average Guyanese whether living inside or outside Guyana.
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.