Guyana Oil and Gas News

Introduction Today’s discussion addresses the notion of Dutch Disease. This is put forward in the 2021 National Budget as the most dangerous pitfall the Authorities will have to navigate as the country pursues economic growth and development with macroeconomic balance.

Insisting that it used global best practices to determine the amounts of the fines catered for in the revised Liza-1 Environmental Permit, the Environmental Protection Agency (EPA) yesterday assured that Guyana will not have to pay a cent of the US$30 per Co2 equivalent fine catered for in the document and said that its current staff is competent enough to calculate the penalties.

The March 2021 first shipment of crude oil from Guyana to a refining destination in India has triggered energetic speculation in the sector that, going forward, the global oil refining giant is positioning itself to become one of the country’s major long-term markets.

By the end of this year Guyana could have approximately US$500 million in its Natural Resource Fund (NRF), the Inter-American Development Bank (IDB) has stated in its first quarterly report for 2021.

Former Director of Guyana’s Environmental Protection Agency (EPA), Dr. Vincent Adams yesterday waded into both government and ExxonMobil for the recent announcement that excessive gas flaring from offshore oil operations will attract a fine of US$30 per Co2 equivalent, calling it a window for pollution.

Introduction – Core Objectives As modern national budgets tend to do, Guyana’s 2021 Budget identifies upfront six core objectives, which it sets about to achieve.

The World Wildlife Fund-Guianas has called for a full environmental and social impact assessment of oil and gas development here amid growing concerns that business interests are putting this country’s low carbon ambitions at risk and despoiling key habitats such as mangroves.

ExxonMobil on Friday announced plans for the safe start-up of the Liza Destiny oil platform’s malfunctioning flash gas compressor system by June following repairs of key components.

The Environmental Protection Agency (EPA) yesterday disclosed that the Environmental Permit for the Liza Phase 1 Development Project offshore Guyana has been modified and ExxonMobil’s subsidiary, EEPGL will now be required to pay for gas flaring once it continues beyond a 14-day period.

The Environmental Protection Agency (EPA) today said that the Environmental Permit for the Liza 1 Development Project, Offshore Guyana, was recalled and modified to include specific regulatory requirements for flaring of associated gas offshore Guyana, in accordance with the EPA’s legislation.

(Reuters) -Governance advisor Pensions & Investment Research Consultants (PIRC) yesterday recommended Exxon Mobil Corp shareholders vote in favour of four hedge fund nominees in a bitter proxy fight seeking to overhaul the oil giant’s board.

Despite challenges due to the COVID-19 pandemic, SBM Offshore says that all major projects including the two Floating Production, Storage and Offloading (FPSO) oil platforms destined for Guyana’s waters are progressing on schedule.

ExxonMobil subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) has applied for an Environmental Authorization to undertake the Yellowtail Development Project – what would be the fourth oil extraction well offshore Guyana.

No studies on environmental risks have yet begun for the Wales gas-to-shore project as the Environmental Protection Agency (EPA) is still to give permission on an environmental authorisation sought, government says.

Introduction As indicated last week, starting with today’s column, I shift focus away from offering readers data and analytics rooted in instructional guidance on the political economy of Guyana’s emerging oil and gas.

India’s High Commissioner to Guyana, Dr. K. J. Srinivasa has stated his government’s interest in formalising a long-term contract for the purchase of Guyana’s crude oil.

Sustainable Environment Solutions (SES) Incorporated was launched in Guyana on Tuesday and has won a contract to manage ExxonMobil’s hazardous and non-hazardous waste.

Although backing a gas-to-shore project here, main opposition coalition partner the Alliance for Change (AFC) on Friday warned that the current plan being pursued by the PPP/C government at Wales is not supported by the research done so far.

Introduction Today’s column offers a few general reflections on the experiences of the 2020 crisis and its impact on Guyana’s newly established petroleum sector, now that we are into Q2, 2021 and, temporally at   least, that year is firmly in the rear-view mirror.