Guyana Oil and Gas News

The amendments to the Petroleum Act were yesterday passed by the National Assembly after a grueling five hours of debate during which the opposition questioned the urgency and recommended further consultation.

When 39-year-old Tanesha Fredericks started working at a local subsidiary of Trinidad Oil Company – Centipede Offshore (Guyana) Inc, she had no idea that several months later she would be unable to turn on a tap because of the injuries she would sustain as a result of handling toxic chemicals and cleaning agents without proper gloves.

Oil and gas firms TotalEnergies and Apache Corporation have discovered more oil off the coast of Suriname.

Fifteen companies yesterday submitted technical and financial proposals at the National Procurement and Tender Administration Board to provide marketing services for Guyana’s oil entitlement from the Liza Destiny Floating, Production, Storage and Offloading vessel. 

For chemical burns sustained to her fingers, Tanesha Fredericks who worked as a utilities cleaner, has been granted a default judgment against locally operated Trinidad oil company—Centipede Offshore (Guyana) Inc.,

In the face of concerns that his administration has only paid lip service to transparency in its stewardship of the oil and gas sector, President Irfaan Ali on Monday announced that government is building a dedicated website to publish all available information.

While the sales terms have not been publicised, Guyana received nearly US$80 million for its last one million barrels of oil, the highest sum to date, and pushing the total in its account at the New York Federal Reserve Bank to more than US$430 million, sources say.

With the recently repaired flash gas compression system on the Liza Destiny oil platform still experiencing some technical issues, ExxonMobil said it is now flaring about six million cubic feet of gas per day.

Introduction Today’s column wraps-up my interrogation cum discussion of the mis-representations, deceptions, and fake news hurled at Guyana’s emerging oil and gas sector.

(Business Wire) Exxon Mobil Corporation (NYSE:XOM) today announced estimated second-quarter 2021 earnings of US$4.7 billion, or US$1.10 per share assuming dilution, compared with a loss of US$1.1 billion in the second quarter of 2020.

Economist Tarron Khemraj has flayed the government for suggesting it may follow the Kazakh model for the still-to-be-created Natural Resource Fund (NRF) and he lamented the continued absence of oil production data in official statistical reports.

Fielding a series of questions from curious West Bank of Demerara residents on the US$900 million Wales gas-to-shore project, ExxonMobil representative Friedrich Krispin on Thursday disclosed that only a small portion of mangroves will be removed to facilitate the transportation of materials during the construction phase.

Guyana’s successive world class oil finds beginning back in May 2015 have propelled the country to the top of the list of Foreign Direct Investment recipients across the entire Caribbean Community (CARICOM) last year and second behind the Dominican Republic across the Caribbean and Latin America as a whole, according to a recently released assessment of FDI inflows into the region released earlier this month by the United Nations Conference on Trade and Development.

Introduction Thus far I have introduced two major metrics in order to illustrate my thesis that the noise and nonsense mis-informers in the social and print media have colluded and connived in generating fake misrepresentations and dated dogma (from four decades ago), in order to portray a relentlessly demoralizing, paralyzing and retrogressive economic narrative of Guyana’s coming time of oil and gas production and sale.

Offshore drilling in Guyana, mainly by ExxonMobil, has in the past years unearthed more than 9 billion barrels of oil equivalent, making Guyana a place to be when it comes to deepwater exploration, and as of December 2019, production, with multiple FPSOs planned for deployment in the coming years.

Introduction Over the past few weeks ExxonMobil has been holding public consultations on an application to the Environmental Protection Agency (EPA) for an Environmental Authorisation for what it describes as a Gas to Energy Project Onshore and Offshore.

The Ministry of Natural Resources (MoNR) yesterday held a pre-bid meeting with prospective bidders to market this country’s oil and reported participation by over 20 companies from around the world.

For its first year of oil production, Guyana has been placed in the “weak” performance band of the Resource Governance Index (RGI), a report issued by the independent nonprofit Natural Resource Governance Institute (NRGI) says.

The Government of Guyana (GOG) is seeking investors for all aspects of its controversial US$900m gas-to-shore project which is to be located at Wales, West Bank Demerara.

Preparatory geotechnical and geophysical works have begun for the Wales gas-to-shore project and mariners have been given notice that such activities will be conducted by ExxonMobil’s local affiliate Esso Exploration and Production Guyana Limited (EEPGL).