Category Archives: Oil Exploration

OIL: OPEC+ production cuts have done little to boost oil prices – The Economist

December 3, 2020 – 12:10 am

The pandemic and the flexibility of America’s shale industry are keeping crude prices low

Graphic detail – Nov 30th 2020 – The Economist
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GUYANA: Oil monitoring (we cannot compete); domestic violence (we cannot condone) – GHK Lall Column

December 3, 2020 – 12:05 am

  Nov 29, 2020  News, The GHK Lall Column 

>>>Encouraging Events, Disturbing Developments<<<

Kaieteur News – Vincent Adams, former Head of the EPA, highlighted the need for training and compensating our people for monitoring and effective compliance with our laws and regulations. I am encouraged that Dr. Adams pinpointed this policing of our ballooning oil industry, which has relevance in other resource areas. To be ahead of the multi-nationals, we must be better than them.    Continue reading →

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VIDEO: Guyana’s Game Changing Oil Discovery – By AR Global Security

November 23, 2020 – 12:12 am

VIDEO: Guyana’s Game Changing Oil Discovery – By AR Global Security

Could Guyana become the richest country (per capita) in the world, due to its small population.

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GUYANA: OIL: I prefer an int’l investigation into oil blocks awards – Raphael Trotman

November 20, 2020 – 12:25 am

– Former Natural Resource s Minister, Raphael Trotman

 Nov 20, 2020 – By Kemol King – Kaieteur News – Former Minister of Natural Resources and Alliance for Change (AFC) executive, Raphael Trotman, would prefer that there be an investigation into the awards of offshore oil blocks by an independent, international firm as industry governance advocate, Global Witness, has recommended. The attorney-at-law provided this comment, when asked by Kaieteur News yesterday.

Awards of multiple oil blocks have been perceived by some sections of society and political commentators to have been made under suspicious and/or corrupt circumstances, and not in-keeping with the best interests of the Guyanese people.        Continue reading →

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GUYANA OIL: Low-cost Liza Phase 2 arguably best project in oil industry – Hess’ CFO

November 7, 2020 – 12:15 am

 -– with world class breakeven price of US$25 per barrel

The Liza Unity FPSO

 Nov 05, 2020 – Kaieteur News – The Liza Phase Two operation, on track for first oil in 2022, is arguably the best project in the exploration and production industry, says Executive Vice President and Chief Financial Officer at Hess Corporation, John P. Rielly.

During its most recent earnings call for 2020, the Stabroek block co-venturer’s principals discussed Hess’ 2020 third quarter performance.    Continue reading →

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GUYANA: OIL: Rudolf Elias of Staatsolie sees great benefits from natural gas

November 6, 2020 – 12:05 am
02 November 2020 – OilNOW
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foto

Rudolf Elias, CEO Staatsolie

Large amounts of associated natural gas discovered with oil off the coast of both Guyana and Suriname can play an important role in the transformation of these neighbouring countries that are now on track to develop their deepwater hydrocarbon resources.
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Rudolf Elias, Chief Executive Officer of Staatsolie, sees a lot of scope for cooperation.

Continue reading →

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GUYANA: Local Content Policy must create long-term value for generations to come – Expert

November 1, 2020 – 12:10 am

Dr. Valerie Marcel

Dr. Marcel said, “Welders and electricians, those kinds of vocational skills are in demand during the construction phase of the oil projects.

Oct 21, 2020  Kaieteur News – When looking at the sheer scale of its oil and gas discoveries, it is clear that Guyana has in its hands an enviable amount of wealth. But to ensure that resource benefits its citizenry – the true owners of this patrimony – the politicians in office have to get a few things right.    Continue reading →

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GUYANA: A low-cost oil supplier; as world still needs 50% oil and gas energy – Hess

October 30, 2020 – 12:20 am

Click to enlarge

Demerara Waves: Denis Chabrol in Business, News October 29, 2020

Hess Corporation, one of the co-venturers in the Stabroek Block, is keeping its eyes on Guyana as a low-cost supplier of oil, saying that global projections show that the world needs just under 50 percent oil and gas in an energy mix up  to another 30 years by when the cost of renewable energy is expected to fall.    Continue reading →

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The Norwegian Sovereign Wealth Fund: A bench mark for Guyana’s Natural Resource Fund

October 27, 2020 – 12:18 am

Norway flag

The following entry has been submitted by Andre Brandli, a Guyanese living in Switzerland.

The Norwegian Sovereign Wealth Fund should serve as the bench mark for Guyana’s Natural Resource Fund

The readers of Guyanese Online, who follow current affairs in Guyana, may have noticed that the new government will not accept the Natural Resource Fund Act in its current form and will either repeal or amend it sometime early next year, Minister of Natural Resources Vickram Bharat has said (https://www.stabroeknews.com/2020/10/23/news/guyana/natural-resources-fund-act-unacceptable-bharrat/). The Natural Resources Fund is fed by the Guyanese oil revenues and needs to be managed with utter care and taken out of political interference.
 Continue reading →

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GUYANA OIL: Imports required for petroleum operations in Guyana are duty-free – GRA

October 25, 2020 – 2:55 pm

Several imported equipment and supplies required for petroleum operations in Guyana are duty-free – GRA

OilNOW- 24 October 2020

The Guyana Revenue Authority said on Friday (October 23, 2020) that based on the Petroleum Agreement between the Government and ExxonMobil affiliate Esso Exploration and Production Guyana Limited, contractors and sub-contractors are permitted to import a number of equipment and supplies duty-free for use in petroleum operations, as stated in Annex D of the petroleum agreement.

READ MORE: https://oilnow.gy/featured/some-imported-equipment-and-supplies-required-for-petroleum-operations-in-guyana-are-duty-free-gra/

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