Category Archives: Oil Exploration

Who will be the world’s largest oil producing country – per person – in the 2020s? – commentary

Exxon-Mobil- Exploration Rig

………..  that honour will belong to the South American nation of Guyana

Kuwait perhaps, with three million barrels per day and a population just over four million? Saudi Arabia or, looking further afield, Brunei or Norway? No, that honour will belong to the South American nation of Guyana, which could well be sharing output of 700,000 barrels per day among just 770,000 people.

Although adjacent to Venezuela, Guyana has been better known for sugarcane, and cricketers such as Clive Lloyd, Lance Gibbs and Shivnarine Chanderpaul, than oil. But after first striking oil at Liza in 2015, ExxonMobil and partners Hess and China National Offshore Oil Corporation have made nine major discoveries in deep offshore waters, with production due to start in 2020.      Continue reading

New York: Town hall meeting answers urgent questions relating to Guyana

By Tangerine Clarke

A\t the head table, Director General in the Min. of Foreign Affairs, Audrey Waddle, VP and Min. of Foreign Affairs, Carl Greenidge, Ambassador Rudolph M. Ten-Pow, and Consul General to New York, Barbara Atherly, during the town hall meeting.

Sept. 29, town hall meeting at York College, was clearly a success, since many pressing questions were answered by Guyana’s VP and Minister of Foreign Affairs, Carl Greenidge, who, after issuing his statement to the United Nations 73rd GA, and a hectic week of bilateral meetings, addressed topics that included the Guyana territorial controversy, Guyana’s oil and gas sector, migration, charitable donation red-tape, and the disbursement of oil revenue to poor citizens.         Continue reading

OIL: Guyana’s surprise potential wealth —, but where is the master plan? – By Ray Chickrie

Guyana’s surprise arrival, but where is the master plan?

Guyana is one of the poorest countries in the Caribbean Community (CARICOM) and many of its citizens fled to Suriname, Trinidad, Barbados, the United States, Canada, the United Kingdom or elsewhere to escape wretched poverty and repugnant violence. However, with the recent mega oil and gas discoveries offshore, Guyana is set to produce over one million barrels of oil daily.

Strangely, after three years of this development, the politicians, civil society, government (coalition) or the opposition haven’t put out a “Dubai Plan” for Guyana so as to inform citizens of exactly how the billions of US oil dollars are going to be spent.    Continue reading

That Trinidad energy agreement: A major opportunity for Guyana – By Leonard Gildarie

Leonard Gildarie

 – By Leonard Gildarie

This past week Guyana signed a Memorandum of Understanding, with Trinidad and Tobago, opening a number of ways that that neighbouring Twin Island Republic can work with Guyana on developing the oil and gas industry.

There are criticisms and we will come to that.

This agreement, a non-binding one, is a golden opportunity for Guyana.

We have spoken about this before.

Trinidad has years and years of experience. They had managed to get some things right but a lot that went wrong too during their 100-plus years of experience in oil and gas. We can learn from them.          Continue reading

TRINIDAD OIL IN DECLINE – By Bert Wilkinson – Caribbean Life News

TRINIDAD OIL IN DECLINE

Trinidad

– By Bert Wilkinson – Caribbean Life News NY – September 20, 2018

Trinidad’s Prime Minister Keith Rowley flew to Guyana for two days at mid-week with official pronouncements indicating the two will sign a pact relating to energy, agriculture and other issues but speculation was rife that the visitors might well make a pitch to refine some of Guyana’s oil there, thereby preventing a large and lifeline refinery from closing in Trinidad.

Rowley and Guyana’s President David Granger signed the memorandum of understanding at midday on Wednesday as controversy swirled in Trinidad over the impending closure of the Petrotrin Refinery in South Trinidad and the loss of jobs of more than 4,000 workers. Original figures had put the job losses level at about 2,000 but cabinet ministers and top Petrotrin officials are now admitting that the final figure will double original estimates.    Continue reading

Guyana, Trinidad sign Energy Agreement- President Granger: “There is no sell-out here”

Guyana, Trinidad sign Energy Agreement-Granger:There is no sell-out here– Rowley: We need to stop talking and start doing – T&T may store oil; maintain and help develop related facilities

President Granger and PM Rowley of Trinidad

Photo: President David Granger and Prime Minister of Trinidad and Tobago,
Dr. Keith Rowley, during the press conference shortly after signing a
Memorandum of Understanding on the Energy Sector Cooperation.

President David Granger yesterday insisted that an Energy Agreement with Trinidad and Tobago (T&T), a sister CARICOM state, is no sell-out.

The Head of State gave this assurance at State House, shortly after the signing of the Memorandum of Understanding on the Energy Cooperation between the two states.
T&T’s Prime Minister, Dr. Keith Rowley is leading a two-day visit here.             Continue reading

China foreign minister to visit Guyana and Suriname on September 21-22. 2018

Chinese Foreign Minister, Wang Yi. Photo: Wikimedia

By Ray Chickrie
Caribbean News Now contributor – 17 September 2018

GEORGETOWN, Guyana — Georgetown is once again re-emerging as the diplomatic capital of the Caribbean Community (CARICOM) and will welcome a high level visit from the foreign minister of China, Wang Yi and a large delegation to Guyana this weekend, September 21-22.

Wang Yi will also pay a visit to neighbouring Suriname, where a large Chinese diaspora exists.                 Continue reading

How Guyana Must Prepare to Cope With ‘Jeopardies and Perils’ of Oil Discovery

GEORGETOWN, Guyana, Tuesday September 4, 2018 (IPS) –    

Photo: THE ESSEQUIBO RIVER is the longest river in Guyana…. and the largest between the Orinoco and Amazon. As oil production in Guyana is expected to commence in the first quarter of 2020, experts say the increasing environmental risk of more oil wells require increasing capacity to understand and manage these risks. (Photo credit Conservation International. Guyana)

Recent huge offshore oil discoveries are believed to have set Guyana– one of the poorest countries in South America–on a path to riches. But they have also highlighted the country’s development challenges and the potential impact of an oil boom.      Continue reading

OIL: Change in Guyana and the Role of Diaspora Hometown Associations – By Lear Matthews

We Got Oil! Realizing Change in Guyana and the Role of Diaspora Hometown Associations

Lear Matthews

By Lear Matthews

The nation of Guyana has been in the news lately for good reasons. Stained  by the horrific tragedy of Jonestown in the late 1980’s and recently maligned by a New York  Times writer, according to Exxon-Mobil, oil discovery off Guyana’s northern coast will top 4 billion barrels, becoming a leading oil producing nation in the region. However, owing to the large number of Guyanese who emigrate, much of the nation’s skills and expertise, including those that could contribute significantly to the oil industry’s success, reportedly reside in the Diaspora. There has not been an effective strategy to engage expatriates – perhaps until now.

Despite the almost euphoric optimism expressed by Guyanese at home and abroad there are challenges only marginally discussed, but are beginning to emerge. One observer noted, “with major oil set to flow as soon as 2020, authorities are bracing both for the shock of wealth and its attendant woes”. This article focuses on the potential role of Hometown Associations (HTA) in helping to understand the socio-cultural ramifications, identifying the risks and harnessing required skills, attitude and cultural adaptation needed to ensure reaping the benefits of this unprecedented, historic natural resource discovery.    Continue reading

‘Black gold’ gives Guyana chance to break free of poverty – By Mohamed Hamaludin

Discovery of ‘black gold’ gives Guyana chance to break free of poverty

By Mohamed Hamaludin –The South Florida Times

The 750,000 or so people of Guyana – about a quarter of the population of Miami-Dade or Broward counties in Florida, and among the poorest in the Western Hemisphere – are facing a very happy dilemma: how to spend a windfall of billions of dollars.

Should the money be distributed to the people or should it go towards infrastructure and other capital expenditure to make the English-speaking former British colony economically self-sufficient? Or should it be a combination of both?    Continue reading

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