Guyanese Online
From: Guyana Association of Georgia (GAOG)
Please post the attached flyers under upcoming events, in the chronological order listed below:
BRAZIL: RIO DE JANEIRO CARNIVAL- 2022 BRAZIL [FULL TOUR]
Apr 26, 2022 – Kaieteur News – By Kiana Wilburg
Since the PPP/C Government has not requested any disbursements from a US$20M loan Guyana took three years ago to help strengthen the nation’s capacity to manage the oil sector effectively, the World Bank said it has been forced to downgrade the country’s performance score on the loan.
The latest implementation status and results (ISR) report recalls that the money was approved on March 29, 2019 for the Guyana Petroleum Resources Governance and Management Project (GPRGMP). The programme’s objective is to ensure the enhancement of legal and institutional frameworks and the strengthening of the capacity of key institutions to manage the oil and gas sector.
A Financing Agreement in the amount of US$20 million was signed and declared effective on April 11, 2019 under the David Granger administration. The ISR, which was reviewed by Kaieteur News presents the implementation status of GPRGMP as of March 2022. Continue reading
By Daniel Thomas – Business reporter, BBC News
Russia imports nearly half of its gas from Russia
One of Germany’s biggest energy firms has said it is preparing to buy Russian gas using a payment system that critics say will undermine EU sanctions.
Uniper says it will pay in euros which will be converted into roubles, meeting a Kremlin demand for all transactions to be made in the Russian currency.
Other European energy firms are reportedly preparing to do the same amid concerns about supply cuts.
Uniper said it had no choice but said it was still abiding by EU sanctions.
“We consider a payment conversion compliant with sanctions law and the Russian decree to be possible,” a spokesman told the BBC.
“For our company and for Germany as a whole, it is not possible to do without Russian gas in the short term; this would have dramatic consequences for our economy.”
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…tells Guyana to improve oil contract terms for higher profit instead
– Apr 26, 2022 Kaieteur News – By Zena Henry
The International Monetary Fund (IMF) has advised Guyana to secure a higher share of profit oil through its model Production Sharing Agreement, rather than actively participating in the task of petroleum development through a national oil company.
Another commentator opined that having a strategic investor in Guyana’s oil company would give that person or entity a permanent lien on all of Guyana’s oil resources. That means that the strategic investor would have the right to keep possession of property belonging to Guyana until it pays any potential debt that is owed. This is a recipe for cronyism and nepotism, it was suggested.In one of the institution’s 2019 documents providing technical support to the government, the Fund concluded that there is no strong business case to show that Guyana would receive more value from its oil endowments if it were to participate as a partner via a national oil company (NOC) in the development of the oil blocks. Continue reading
Newsroom Guyana – April 26, 2022
ExxonMobil has made three new discoveries of oil in the Stabroek Block offshore Guyana. With these discoveries, Guyana’s recoverable oil resources has now increased to nearly 11 billion barrels of oil.
See below full press release from ExxonMobil:
ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels.
The three discoveries are southeast of the Liza and Payara developments and bring to five the discoveries made by ExxonMobil in Guyana in 2022. Continue reading
By MOHAMED HAMALUDIN
“Oil “don’t spoil,” the late Dr. Eric Williams, prime minister of petroleum-rich Trinidad and Tobago, was reported to have once said. To which the late Forbes Burnham, then prime minister of agriculture-oriented Guyana, retorted, “But you can’t eat it.”
What happens when you have both oil and food? Lots of headache.
Tension between the two Caribbean Community (CARICOM) nations has existed for decades, even though Trinidad and Tobago once wrote off a US$400 million debt Guyana owed for petroleum products, according to former Guyana Parliament Speaker Ralph Ramkarran.
Many Guyanese traveled to other CARICOM countries to live and work in the 1970s and 1980s, “creating monumental chaos” during transit at Trinidad’s Piarco International Airport “with huge bundles packed with goods being brought back to Guyana for trading,” Ramkarran wrote in a Guyanese Online column.“ No single Guyanese passing through Trinidad during this era, and even much later, has not experienced surly, enhanced scrutiny and less than accommodating reception at Trinidad’s Immigration and Customs desks.” Continue reading
Panic At Sea: Nearly 2,000 Ships Stuck Outside Ports As Container Shortage Intensify
Epic Economist – April 21. 2022
The already stressed global supply chain is all set to face a fresh wave of backlogs, congestion, and shortages as new shockwaves emerge in almost every link of the system. Conditions continue to worsen by the day as Chinese ports operate at bare minimum capacity due to virus-related restrictions imposed by the government.
The disruption in the flow of goods in and out of the country is expected to reach alarming proportions and cause serious distortions in the market in the weeks ahead. The problem is particularly worrying between the US and China — the world’s busiest shipping route — but the restrictions will have a cascading impact all across the globe. Continue reading
VENEZUELA: VIDEO: Special Report: Inside Venezuela – Bloomberg Markets and Finance
Special Report: Inside Venezuela
– Bloomberg Markets and Finance – August 20, 2021.
Venezuela is in default; the country has suffered one of the greatest economic and humanitarian crises in modern history. Now, after four years of crippling U.S. sanctions, President Nicolas Maduro is making a public plea aimed directly at President Joe Biden– it’s time for a deal. Bloomberg’s Erik Schatzker travels inside Venezuela and sits down with Maduro to discuss the country’s future.
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