Guyana Oil and Gas News

Key studies for ExxonMobil’s proposed sixth oil platform have been completed and the Environmental Protection Agency (EPA) yesterday invited public feedback.

Promising to not only train locals to take over and “revolutionize” monitoring of the extraction of their country’s oil and gas, local tech company, e-Magic, on Friday entered into a partnership with Ghanaian-based West Coast Gas for over US$10 million in the short term.

There will be no further extension to the September 12 auction as the entire regulatory framework which will facilitate the process has been completed, Vice President (VP) Bharrat Jagdeo declared on Friday.

United Kingdom oil company Tullow is exiting the Guyana market after poor returns from its efforts in the offshore Orinduik Block but the deal would see financial returns to the company if commercial oil is found in the future. 

(Reuters) -Oil major Exxon Mobil is in talks with Tesla, Ford Motor, Volkswagen and other automakers to supply lithium for electric vehicle batteries, Bloomberg Law reported on Monday, citing people familiar with the matter.

Even as the nation awaits word on the first two audits of oil expenses, the government has determined that all questionable claims still not justified by the company in the IHS Markit audit of expenses from 1999-2018 would be disallowed, actions which could possibly trigger the US oil major moving to arbitration in a holdout to not pay, sources close to the process say.

Introduction Today’s column begins with a summary overview of the current state of affairs in regard to the proposed public oil block options in Guyana postponed from an initial mid-April due date to a new one, mid- July and them to September 12.

 (Reuters) – Oil and gas producer Hess Corp (HES.N) today beat Wall Street estimates for second-quarter profit, buoyed by higher production at the Bakken shale field in the U.S.

Introduction Today’s column addresses the second topic I had identified for consideration in this ongoing evaluation of Guyana’s proposed public auctions of its crude oil blocks.

Oil company ExxonMobil and its partners have lodged the required US$2 billion security deposit with the Environmental Protection Agency, as ordered by Guyana’s Appeal Court.

ABUJA,  (Reuters) – Nigeria’s downstream oil regulator has alleged ExxonMobil Corp XOM.N

On June 16, the High Court will rule on whether the government and ExxonMobil will be allowed to join the litigation challenging a decision made by the Environmental Protection Agency (EPA) to issue a permit to ExxonMobil for its Gas to Energy (GTE) project.

The Environmental Protection Agency (EPA) says that it has complied with a High Court Order and had since May 9th issued an Enforcement Notice to Esso Exploration and Production Guyana Limited (EEPGL) that it provide a parent company liability for any  oil incident in the Stabroek Block.

A ruling is expected next week on whether there is merit in the appeal filed by the Environmental Protection Agency (EPA) to the High Court order that it enforce the liability clause in permits for ExxonMobil’s offshore oil operations here.

ExxonMobil shareholders yesterday supported their Board of Directors and voted overwhelmingly to reject a proxy measure for additional disclosures on a worst-case scenario oil-spill response plan for the company’s Guyana operations.

Two tugboats that will be support vessels for ExxonMobil’s operations offshore Guyana, were christened yesterday with names submitted by two secondary school students.

The hearing on the merits of the appeal filed by the Environmental Protection Agency (EPA) in its challenge to the High Court order that it is to enforce the liability clause in permits for ExxonMobil’s offshore oil operations here, has been adjourned to tomorrow.

Work on the estimated US$1 billion gas-to-energy project is forging ahead as pipes to be laid are in the country and will be installed from offshore coming inwards to Wales on the west bank of the Demerara River, even as administrative work on ExxonMobil’s Final Investment Decision wraps up.

In the face of reports that it had submitted documents to the court with at least three gross errors in the matter regarding ExxonMobil and its parent company guarantee, the Environmental Protection Agency (EPA) says that it will respond after the judicial process is completed.

Introduction The main focus of today’s column is to wrap-up consideration of the World Bank’s Staff Conclusions reached in its Guyana SCD (Systematic Country Diagnostic), 2020.