Category Archives: Oil Exploration

SURINAME: Large oil discovery offshore near Guyana/Suriname border

BLACK GOLD FIND IN SURINAME

Authorities in Dutch-speaking Suriname reported that Texas-based Apache Corporation had struck it rich in an offshore concession right on the border with Guyana and near to some of the largest wells that American super major ExxonMobil has discovered in Guyana since 2015. Large amounts of associated gas has also been found according to officials.  Continue reading

Guyana Commentary: Only Oil Matters to the Empire – by Rosaliene Bacchus

Only Oil Matters to the Empire

by Rosaliene Bacchus

Oil drives our global economies. Oil is power. Oil fuels the Empire. Iraq and Iran together produce 8.3 million billion barrels a day of the liquid gold (figures from Offshore-Technology). Their joint oil reserves amount to 300,903 million barrels (figures from World Atlas). While the world’s largest oil producer with 12 mbbl barrels/day, the United States has only 39,230 million barrels of oil reserves. Venezuela tops the list with 300,878 million barrels. It’s no accident that the Empire is embedded in the Middle East. Controlling access to all that oil is vital to its continued survival.

Guyana will soon be part of that blessed-accursed herd of oil producing nations. With six billion barrels, and climbing, of oil reserves, Guyana now overtakes Venezuela in the overheated top seat.      Continue reading

Guyana Oil: Excess gas from Liza Phase 1 alone can power all of Guyana for more than 15 years

MAP: Click to Enlarge

By Kiana Wilburg – Kaieteur News

For decades, Guyana has tried and failed in its attempts to address the issue of high energy costs. It appears, however, that this could soon be a closed chapter in the nation’s history given the significant volume of gas that is available for use in the Stabroek Block.

Even though ExxonMobil has not publicly disclosed details about its gas finds, it has made known to the government, and even to the nation’s global partners like the Inter-American Development Bank (IDB), that 30 to 50 million cubic feet of natural gas could be piped to shore for electricity generation. But what exactly does this mean or translate to?        Continue reading

Venezuela: Russia Is Gearing Up for a Conflict with the United States in the Caribbean – opinion

With Moscow propping up Maduro, evading oil sanctions, and moving its troops around the coast, Washington needs to rethink its own strategies.

Ryan C. Berg | Foreign Policy 

New conflicts in the rest of the world may be looming large, but one in the United States’ own backyard is about to get more dangerous. Despite U.S.-led sanctions on Venezuela’s state-owned oil company, Petróleos de Venezuela (PDVSA), oil from the country is still flowing onto world markets. A central facilitator of the exports is Rosneft, Russia’s state-owned oil company, which has been accepting Venezuelan crude as a form of loan repayment. In this way, Russian President Vladimir Putin is playing a leading role in keeping Venezuelan dictator Nicolás Maduro afloat. As long as he does, current U.S. sanctions policy will do little to force a change in Venezuela, which is why Washington needs to rethink its strategy for dislodging the Venezuelan leader — and soon.          Continue reading

Guyana: Reflections on gas and oil discovery: How does the Diaspora fit in? – By Lear Matthews

 — By Lear Matthews

Dear Guyana, you’re now an open door
You are attracting droves of folks to your shores
You’re ranked number one for the eco tours
A lot has changed since oil is dripping from your pores”

(Ronald Daniels, Guyanese-Online 12/24/19).

The question that belies the observation in this opening poetic verse is to what extent does the attracted “droves of folks” include the Guyanese Diaspora? Following the pomp and ceremony of Guyana’s 50th independence anniversary in 2015 attended by thousands in the Diaspora, there has been much reflection on that unprecedented milestone in Guyanese history by those residing within and outside that nation-state. So too is contemplative attention now warranted about the ramifications of recent gas and oil discovery.        Continue reading

GUYANA: Oil flows for Xmas as Exxon finds yet another well

BY BERT WILKINSON – Caribbean Life News NY

The company had always led Guyanese to believe that first oil would have flowed from the seabed sometime in March of 2020, but just before half past nine on Dec. 20, American supermajor ExxonMobil announced that Guyana had officially become the world’s newest producer of crude oil, less than five years after Exxon had first boasted about an offshore commercial find.

Senior company officials had said that it was standard practice to add a six-month additional period to the real deadline to cater for eventualities and extensive safety checks before a startup date was announced, hence March as the outer deadline that had had been fed to industry observers for months.            Continue reading

Guyana Politics: No guarantee ‘oil money’ will transform Guyana – PPP

Guarantees that petroleum production will be transformative for Guyana’s economic development and usher in prosperity for the people of the country are non-existent, according to the Peoples Progressive Party (PPP).

The parliamentary opposition gave its gloomy outlook over the weekend, on the short term fortunes of the nascent oil and gas industry.

According to the PPP, the announcement of ‘first oil’ should have fueled the hopes and aspirations of Guyanese across the country, given the opportunities in the oil and gas sector.      Continue reading

Oil Exploration: ExxonMobil in 15th oil find offshore Guyana

ExxonMobil today said it had made an oil discovery offshore Guyana at the Mako-1 well southeast of the Liza field, marking the 15th discovery on the Stabroek Block.

In a release, the company said that the discovery adds to the previously announced estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek Block.            Continue reading

A Guyana SPEAKS Special: featuring Guyana’s Oil – 29 December 2019 – London UK

Dear Friends,
Guyana joined the ranks of the world’s oil producers for the first time on Friday, 20th December 2019.  Exxon Mobil’s production of crude off the coast of Guyana was described by President David Granger as “momentous event” that is predicted to transform the economy and the lives of all Guyanese. To hear more on the topic of oil and gas, please join His Excellency Mr. F. Hamley Case at a Guyana SPEAKS Special on Sunday, 29th December (11.30-14.00) at the Classic in Tooting Bec.
Flyer for Oil 2019.png

Continue reading

Guyana Politics: A relatively dignified December – mainly politically speaking – By GHK Lall

 December 21, 2019 – Demerara Waves – By GHK Lall

By Guyanese standards, it has been a relatively dignified December. In fact, it has been the most placid month of this stormy year. Still, I had to wait for the safety of over two thirds of the month to pass, before I am able to say that a strange quiet took hold, mostly on the political front.

I begin with that coal-pot of the raging constitutional entity called GECOM, which itself sounded reasonably becalmed. The chair herself led by example; she is not seen, only heard, like some Greek goddess of yore handing down the unique Guyanese electoral wisdoms from Olympus. I hope that things do not fly to her head, and the lady actually begins to believe (in true Guyanese fashion) that she actually is a goddess. But whenever she speaks, everybody straightens up and listens; this was what happened in December with polite listening across the political force field. The rowdy political pack named commissioners did comport themselves as adults in December, and everybody survived to tell the tale.          Continue reading

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