Other countries blessed with oil have not always made good use of it
AKAWANI | The Economist
It used to be a disused sawmill surrounded by fields of sugar cane. But since oil was discovered off Guyana’s coast in 2015 the 52-hectare site in Georgetown, the capital, has been transformed into the biggest logistics hub in the country. From this waterfront spot, Guyana Shore Base serves ExxonMobil, an American oil giant, and other foreign firms drilling for oil off the Caribbean coast. At two big berths along the Demerara River ships pull up to offload equipment for maintenance and pick up supplies for hundreds of workers toiling away on offshore rigs.
The buzz at the shore base hints at how a rush of petrodollars could transform one of South America’s poorest countries. Autarkic policies introduced under socialist rule in the 1970s left Guyana struggling with unsustainable debts and sluggish growth. Many of the country’s 800,000 people make ends meet doing the same things their grandparents did: farming rice, chopping timber or mining gold. Continue reading →
By guyaneseonline
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Posted in Business, Economics/Finance, Energy- Oil and Gas, finance and trade, Government, Guyana, Guyana infrastructure, History, Uncategorized
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Also tagged Alistair Routledge- president of ExxonMobil Guyana, Guyana Shore Base, Guyana- petrodollars, Resource curse
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OILNOW – October 23, 2021
Guyana’s Natural Resources Minister, Vickram Bharrat, says in the next four to five years Guyana would be well on its way to becoming the “mini-Dubai” of the Caribbean as it will have four oil ships providing considerable production volumes and revenue take.
During an exclusive interview with OilNOW, Mr. Bharrat recalled that currently, Guyana has US$436M in its Natural Resource Fund. In the coming weeks, he posited that the country will receive payment for the most recent lift of one million barrels of Liza crude to Aramco Trading Limited. With another lift due next month, he predicts Guyana can get US$150M between the two if oil prices remain around US$85 per barrel. With this in mind, he said Guyana could comfortably close the year with close to US$600M in the Natural Resource Fund.
Continue reading →
By Terrence R. Blackman, Ph.D. – OilNOW – 18 July 2021
On June 09, 2021, ExxonMobil announced newly identified, high-quality hydrocarbon-bearing reservoirs below the original Longtail-1 at Longtail-3 offshore Guyana. The well, located approximately two miles (3.5 kilometers) south of the Longtail-1 well, was drilled in more than 6,100 feet (1860 meters) of water.
This announcement has brought into sharper focus the ideas emerging from the recently concluded Memorial Day Weekend symposium on Navigating the Opportunities and Imperatives in Guyana’s Oil and Gas Economy, presented by the Queen’s College of Guyana Alumni Association, NY Chapter (QCAANY)…Read More
By Ivelaw Lloyd Griffith – OilNOW
In the first of this two-part series on Guyana’s current flood travails, I offer an analysis of the country’s geography and environmental circumstances against the backdrop of the country as a petro state. The second article will explore the impacts of the flooding, explore strategies for current and future governments to leverage oil revenues, aid recovery efforts, and mitigate future disasters.
Oil Blessings
Mother Nature has been blessing Guyana effusively in recent years, with 19 offshore oil finds between May 2015 and April of this year by a three-member consortium of ExxonMobil, Hess Corporation, and China’s National Offshore Oil Corporation. Continue reading →
By guyaneseonline
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Posted in Agriculture, Commentary, Disasters, Geography, Government, Guyana, Oil Exploration, Science, Technology
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Also tagged By Ivelaw Lloyd Griffith – OilNOW, China’s National Offshore Oil Corporation., flooding in Guyana, Geopolitics of oil and water in Guyana: Part 1 – By Ivelaw Griffith, Guyanese Onlline, Hess Corporation, Oil discoveries in Guyana, OilNOW
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PHOTO: The Liza Unity FPSO arrives in Singapore earlier this year for topsides integration. The FPSO is destined for the ExxonMobil-operated Liza field development in Guyana. (Photo: SBM Offshore)
May 15, 2021- Kaieteur News – ExxonMobil in recent years had maintained that its projected estimated oil production from the Stabroek Block would be just about 750,000 barrels per day (bpd) in 2026, but this has since been revised upwards. Continue reading →
The nation must know:
Click to Enlarge map
Sep 17, 2020 Front Page Comment, Kaieteur News
We welcome United States Secretary of State, Michael Pompeo, to Guyana. We thank him for his role in ensuring that the democratic will of the people was respected in relation to the elections of 2nd March, 2020.
America stands for democracy and America stood by Guyana during the attempt to steal the elections and revert Guyana to a state of political dictatorship. For this, we are grateful!
America also stands for transparency and accountability in government. American companies should not be doing business in a country where deals are being kept secret. American companies should not be involved in investing in oil blocks, the owners of which are concealed from the public.
Continue reading →
By guyaneseonline
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Posted in Business, Commentary, Economics/Finance, foreign investment, Oil Exploration
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Also tagged Cataleya, former Minister of Natural Resources- Robert Persaud, Global Witness, GUYANA: Canje and Kaieteur Oil blocks given out under suspicious circumstances, GUYANA: OIL: The nation must know: Who are the real owners of the Canje and Kaieteur Oil Blocks?, Ratio Energy Limited and Ratio Guyana, United States Secretary of State- Michael Pompeo
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ByOilNOW – April 1, 2022
Photo: The Liza Unity FPSO at the Liza Phase 2 Development, offshore Guyana.
Guyana: By 2026: 4 FPSOs will deliver 50 million barrels of oil; US$4 billion annually to Guyana – Bharrat
OILNOW – October 23, 2021
Guyana’s Natural Resources Minister, Vickram Bharrat, says in the next four to five years Guyana would be well on its way to becoming the “mini-Dubai” of the Caribbean as it will have four oil ships providing considerable production volumes and revenue take.
During an exclusive interview with OilNOW, Mr. Bharrat recalled that currently, Guyana has US$436M in its Natural Resource Fund. In the coming weeks, he posited that the country will receive payment for the most recent lift of one million barrels of Liza crude to Aramco Trading Limited. With another lift due next month, he predicts Guyana can get US$150M between the two if oil prices remain around US$85 per barrel. With this in mind, he said Guyana could comfortably close the year with close to US$600M in the Natural Resource Fund.
Continue reading →
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