Category Archives: Oil Exploration

Guyana: Oil: Guyana greenlights 8 more shore base facilities – Public Works Minister

Noting a need for more shore base facilities to service the oil sector’s expansion, Guyana’s Minister of Public Works, Bishop Juan Edghill said the Government has given ‘no-objections’ to eight such projects, in addition to expansion works at the Guyana Shore Base Inc. (GYSBI).

“Most of the applications for shore bases are in port Demerara,” Mr. Edghill said. “We used to have 7-9 ships… Right now, the average is about 52 per week. Now, that’s just with 1 [floating production, storage and offloading] FPSO. When the next FPSO comes onstream, the anticipation from [Maritime Administration Department] MARAD; they have told me the traffic will go up between 70% to 80%. These ships need to have places to berth.”        Continue reading

Government: Why Oil Doesn’t Corrupt Norway – Video

Government: Why Oil Doesn’t Corrupt Norway – Video

This video gives a history of Norway’s oil industry and the operation of its Sovereign Trust Fund.

‘Venezuela Won’t Even Get to Exploit 5% of Its Oil Reserves’ – Marianela Palacios | Caracas Chronicles

Venezuela – Click to enlarge

Now that oil prices are recovering, Francisco Monaldi analyzes the truth of the nature and magnitude of what lies beneath the Faja del Orinoco (Orinoco Belt) and the historic use of fossil fuel to determine the role of oil in our future 

Marianela Palacios | Caracas Chronicles

IT IS TRUE THAT THERE ARE OVER ONE TRILLION OIL BARRELS IN THE VENEZUELAN SUBSOIL. That’s why Nicolás Maduro brags about the “world’s largest reserves”, although he adds that only a fraction of them are “proven” and exploitable; between 20 and 25 percent of the total amount: 300 billion barrels. But it is also true that, if things stay the way they are, most of it will remain underground forever. The carbon dioxide won’t be released into the atmosphere nor will that wealth be used.              Continue reading

GUYANA: Half-year earnings from oil exceed US$1B

Guyana Chronicle –
Guyana’s oil resources could further double by 2025 (HESS Corp. photo)
Guyana’s oil resources could further double by 2025 (HESS Corp. photo)

EVEN as Guyana continues to discover more oil, the country’s petroleum earnings continue to get bigger and bigger. So much so that by the end of the first half of 2021, exports from the industry surpassed US$1.2 billion. This marks a significant growth, since the oil earnings for the corresponding period last year stood at only US$438.4 million.

This outturn, according to a recently released mid-year report, can be attributed to both an increase in the volume and average export price of crude oil over the review period.            Continue reading

GUYANA: News Video: Guyana News Source – 6th October 2021

GUYANA: News Video: Guyana News Source – 6th October 2021

Top Stories: showing timeline on the video

  • Guyana’s economy grows by 14.5% during first six months of 2021.. @ 00.28 min
  • Moruka teenager dies after receiving Covid-19 vaccination. – Massive brain bleed @ 8.00 min
  • Over 1000 new Covid-19 cases in 5 days @ 9.00 min
  • Oxygen Plant being established at Covid-19 Hospital -@ 9.50 min
  • Police Stands by Brickdam Fire Confession @12.22 min
  • More reports of corruption in Farmers Cash Grant -@ 13.58 min
  • Guyana- Suriname Ferry to start regular service. @ 15.15 min
  • Nicaragua to receive Covid-19 Vaccines from Cuba @ 19.26 min
  • USA pauses non-immigrant visa issuance in Barbados @ 20.35 min
  • World’s first malaria vaccine given approval for rollout @ 21.30 min

TELECOMS: Digicel, France’s Orange target Guyana, Suriname oil industry with new submarine fibre-optic cable

Wednesday, 29 September 2021

Digicel has announced that it  has inked a deal with the France-based major international telecoms provider, Orange, to build a submarine fibre-optic cable that would link French Guiana, Suriname, Guyana and, Trinidad and Tobago and provide service to the rapidly emerging oil sector.

“Recognising the opportunity to supercharge connectivity in this area of the Caribbean and Latin America, Deep Blue One will provide best in class connectivity to French Guiana, Suriname, Guyana and Trinidad & Tobago, with the opportunity to connect offshore oil and gas rigs on the back of the industry boom in the region,” Digicel said.      Continue reading

GUYANA: Preparing Guyanese youth for 21st century economic development | OilNow

By Wilberne Persaud – OilNOW. –oilnow.gy
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In my April 2020 commentary: “GUYANA | Workable, Transparent Gov’t Policy Needed for Oil and Gas Investment” an important bullet point read: “Guyana has but one limited, time-bound chance, to make oil and gas its pathway to sustainable development with environmental and human development equity.

Few thoughtful human beings now dispute the notion of a short time window to combat global warming with any hope of success. Confirmation arrived with the recently released Intergovernmental Panel on Climate Change (IPCC) Sixth Assessment Report.          Continue reading

GUYANA: Under coalition the gas-to-energy project was US$400M but now its US$900M – Patterson

David Patterson

Sep 03, 2021 – Kaieteur News – As the PPP/C Government rushes ahead with plans to bring the controversial gas-to-energy project onboard by 2024, Opposition Member, David Patterson, has aired some reservations about the cost of the initiative to the nation.

In his most recent Facebook post on the matter, Patterson said, “My records indicate that in 2017, Exxon proposed to construct a pipeline for between US$400M – US$500M inclusive of onshore processing and an LPG (Liquefied petroleum gas) plant.”

He added, “Without any explanation, justification, or further studies, the cost for the exact same project by the exact same company has risen to US$900M.” Patterson expressed alarm that the project is already suffering from massive cost overruns even before a single piece of work or study is completed for same.        Continue reading

Oil on Agenda: High-level Suriname delegation on 4-day visit to Guyana – By OilNOW

By OilNOW – August 17, 2021

Guyana’s Head of State, Dr. Mohamed Irfaan Ali has indicated that oil and gas collaboration is one of the many topics up for discussion with the Surinamese President Chandrikapersad Santokhi, who is leading a high-level delegation to Guyana for a four-day visit from August 17 – 20, 2021.          Continue reading

OPINION: The underbelly of Guyana – Editorial in Kaieteur News

 The made-up face of Guyana sparkles, but the sheen only goes so far beneath the surface. It is the well-tended face that is presented to the world with overwhelming power, to be seen, regardless of interest, agreement, or healthy skepticism. But there is another side to Guyana, which is less of quantity and its gloss, one that goes deep and to many dark places.

Today, we speak of that other side of Guyana beneath the smiling face, and the sweet words that flow, especially from political leaders.    Continue reading

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