Category Archives: Oil Exploration

GUYANA: Read the latest edition of Energy Magazine – Q2 2022 Edition – 52 pages

Click: Read the latest edition of Energy Magazine

Guyana’s local content law is likely to achieve the opposite of what was intended – Letter by Andre Brandli

Dear Editor, — Letter by Andre Brandli

National news outlets, including this distinguished newspaper, have been documenting problems that are emerging as a consequence of the Local Content Act, which was passed by Parliament in late December 2021. Companies, such as Ramps Logistics Guyana, the largest logistics company servicing the oil and gas sector has apparently been denied access to the local content register.

Timothy Tucker, President of the Georgetown Chamber of Commerce and Industry (GCCI) has been quoted saying that “rent-a-citizen” tactics run counter to the local content law. Finally, Vice President Bharrat Jagdeo has recently voiced that the government is having difficulties with companies trying to circumvent the Local Content Act.        Continue reading

GUYANA: Energy Crisis: The time has come for CSME to play it s role – Letter by Eusi Kwayana

Dear Editor:

In a discussion on Sunday June 19, 2022, the panelists on Observer Radio in Antigua considered a statement by Prime Minister Gaston Brown of Antigua and Barbuda. That statement suggested that it might be necessary for the Caribbean countries in CARICOM to approach Venezuela for a second chapter of Petro Caribe which was designed to help Caribbean countries at the time of Hugo Chavez’s Bolivarian Revolution.

At this point it is good to remember that Trinidad and Tobago during the days of its oil boom had extended credit facilities to some of the Caribbean islands in CARICOM. One of them, Guyana, benefitted from these credits up to its limit of $500M in US dollars, I suppose largely for fuel imports. It was reported that a substantial amount of these debts ($482.5M US dollars) were eventually written off by the Trinidad and Tobago government as Guyana was unable to honour its debt. (See note at end).            Continue reading

GUYANA: Sod turned for US$300M Vreed-en-Hoop shore base facility (VEHSI)

Kaieteur News – On Tuesday June 21, 2022, the sod was turned for the US$300 million Vreed-en-Hoop Shorebase Inc. (VEHSI) which will sit on 400 hectares of coastal land.

The businessmen of NRG Holdings Inc., Azruddin Mohammed (first left); Andron Alphonso (third left), and Nicholas Deygoo-Boyer (first right) and other officials after the sod was turned

The VEHSI is being constructed by NRG Holdings Incorporated, a 100-percent Guyanese-owned consortium along with Hadi’s World Incorporated, National Hardware Limited and ZRN Investments Incorporated are the Guyanese investors involved in the project. They have partnered with Jan de Nul Group, a Belgian engineering and construction firm which offers marine services, offshore service, civil engineering, environmental management activities and project development.        Continue reading

GUYANA: Amaila Falls, citizens’ pressure and judicial appointments – By GHK Lall

GHK Lall

Encouraging Events, Disturbing Developments  – By GHK Lall – Jun 05, 2022

Kaieteur News – It is all about governance, the candid and clean kind. The three issues I chose this week encourage and disturb simultaneously, given how they confirm what we have for clean governance and ethical leadership in this country.

Much has been made about the return of the Amaila Falls Hydroelectric project. Like Jesse James and Wang Yu, it is doomed to die. One online newspaper called it a “snag” and another wrote of “difficulty” being experienced by China Railway, the company contracted to deliver a BOOT (Build, Own, Operate, and Transfer) setup. Somebody has to be kidding me, because the Chinese don’t have difficulty finding money, arranging money, or even making money out of thin air, when such suit their purposes. Other companies have money problems, not Chinese ones.            Continue reading

GUYANA: Oil, Gas and the Environment- a review – Moray House Trust- June 9, 2022 – ZOOM event

OGE Panel Zoom.png

You are warmly invited to join us for a Moray House Trust panel and discussion:

Title:             Oil, Gas and the Environment: a review
Speakers:     Dr. Vincent Adams, Frances Carryl (EPA) and Melinda Janki
Date:            Thursday 9th June 2022
Time:            3.00 PM Guyana/ NY/ Toronto
                     8.00 PM London

GUYANA: OIL: Read the latest edition of the ENERGY Magazine – Q1 2022 Edition

Read the latest edition of Guyana’s Energy Magazine –  Q1 2022 – 52 pages

Read the latest edition of Guyana’s Energy Magazine –  Q1 2022 – 52 pages

GUYANA: Oil, Water, and Climate Change in the Guyana-Suriname Basin – By Ivelaw Lloyd Griffith

Image: Waves batter a section of Guyana’s “Sea Wall” during a high-spring tide in 2019. Source: Loop News.

“Oil don’t ‘spoil!” So once declared Eric Williams, one-time long-standing Prime Minister of oil-rich Trinidad and Tobago. This assertion is undoubtedly true. But the distinguished scholar-statesman did not contemplate a circumstance where a dangerous mix of oil and water in the context of climate change dangers could spoil lives and livelihoods within the societies blessed with oil and gas resources.

Such is the situation with the two nations in the Guyana-Suriname Basin (GSB). Technically, the GSB includes the coastal plains of French Guiana, Suriname, Guyana, and eastern Venezuela.[1] However, the focus here is on Guyana and Suriname, the Caribbean’s emerging petro-powers.          Continue reading

GUYANA: OIL: ‘We can’t eat a new road’: Guyanese voice fears over true cost of Exxon’s oil bonanza- Opinion

The Guyanese environmentalist Arnette Arjoon alongside fishing boats docked at Liliendaal, Georgetown.
Over time, the Guyanese environmentalist Arnette Arjoon grew to suspect Exxon was indifferent to the dangers of an oil spill to the coast and rivers of one of the best preserved parts of the Amazon biome. Composite: Fidal Bassier/Guardian/Reuters

Multibillion-dollar deal promising to lift country out of poverty may be false dawn with dire impact on climate, warn campaigners

– The Guardian – Thu 12 May 2022 12.04 BST

Annette Arjoon is not anti-oil. The marine conservationist calls the vast new oilfields off Guyana’s coast a “blessing” that will earn billions of dollars for one of the poorest countries in the Caribbean, even as she recognises that pulling yet more fossil fuel from the ground will deepen the climate crisis.

But Arjoon does have a problem with who is drilling the oil. She has seen firsthand what happens when the US’s largest petroleum company descends on a small country bearing the promise of riches.                  Continue reading

GUYANA: Government makes first withdrawal of US$200M from Natural Resource Oil fund

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This is the first withdrawal that has been made from Guyana’s oil wealth fund.

The withdrawal was announced on Tuesday night via a press release from the Ministry of Finance, which indicated that this sum has been transferred to the Consolidated Fund to finance national development priorities.

According to the release, the withdrawal was done in accordance with the Natural Resource Fund Act of 2021.          Continue reading

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