Tag Archives: Minister of Natural Resources Raphael Trotman

We’re not saying cancel deal with ExxonMobil; just give Guyana what it deserves – Global Witness

— says Global Witness Senior Campaigner – Jonathan Gant

Global Witness, an international organization that has fought against natural resource exploitation, poverty, and corruption since 1993, recently published a report called “Signed Away” which has added more firewood to the heated debate on whether Guyana got a good deal with ExxonMobil for the oil-rich Stabroek Block.

 Jonathan Gant

In summary, Global Witness says its fiscal analysis shows that Guyana left US$55B on the table due to poor negotiations on the part of Minister of Natural Resources, Raphael Trotman. The non-governmental organization also believes that ExxonMobil had a role to play as it employed some strong-arm tactics.

Since being released for public consumption, the report has attracted concerns from many about the veracity of the inherent accusations and their real intentions, as well as scathing criticisms from the government.    Continue reading

Guyana Bauxite: Rusal standoff ends; workers to resume duty within days

Minister of Natural Resources, Raphael Trotman

Present for a second conciliation meeting were union officials, Ephraim Velloza and Lincoln Lewis of the Guyana Bauxite and General Workers’ Union (GB&GWU) and Vladimir Permyakov, Mikhail Krupenin and former Chief Labour Officer, Mohamed Akeel, who were representing Rusal/Bauxite Company of Guyana Inc.

Chief Labour Officer, Charles Ogle, is set to witness the signing of the Terms of Resumption today.
The breakthrough is expected to see workers removing barricades from the Berbice River.

It would have been a testing five weeks for 91 workers who had no idea where their next paycheck was coming from.          Continue reading

Guyana Gold Board wants to buy “all gold” directly from miners

The state-owned Guyana Gold Board (GGB) is further decentralising its operations by deploying roving representatives in mining communities, General Manager Eondrene Thompson announced Monday.

The GGB’s main office is located in Georgetown and a satellite office in Bartica, in addition to agents who are licensed dealers. But Thompson said her entity wants to buy all of the precious yellow metal being produced here.      Continue reading

Trotman handing over oil responsibility to Granger’s ministry

 Granger’s ministry …to form Department of Energy

Photo:  Minister of State, Joseph Harmon and Minister of Natural Resources, Raphael Trotman briefing the media on December, 29, 2017.

Minister of Natural Resources, Raphael Trotman is preparing to hand over responsibility for the oil and gas sector to the Ministry of the Presidency, government announced Tuesday.

“The government will, in the coming months, establish the Department of Energy which will be housed in the Ministry of the Presidency,” government said. Trotman said the department will be “focused only on the development of the petroleum sector”, based on a proposal that he made to President David Granger last year.     Continue reading

Shell made mistake by pulling out of Guyana’s oil basin

Shell made mistake by pulling out of Guyana basin

By Bert Wilkinson – Caribbean Life News

Now that Guyana’s oil and gas basin has been deemed as one of the hottest and most exciting prospects in the world, Shell Oil has to be regretting its decision to withdraw as an investment partner with United States giant ExxonMobil, which has so far drilled six successful wells offshore Guyana worth about 3.2 billion barrels of oil, officials said Monday, Jan. 29.  Continue reading

Guyana’s oil needs minimum refining – Trotman

Guyana’s oil needs minimum refining – Trotman

Raphael Trotman

By Abena Rockcliffe-Campbell

Minister of Natural Resources Raphael Trotman has indicated that Guyana’s oil is of top quality. He even boasted that the crude needs minimum refining. This, the Minister pointed out at a recent press conference in response to a question posed by Kaieteur News.     Continue reading

Guyana: Gold Board rakes in over US$700M in 2017

Guyana: Gold Board rakes in over US$700M in 2017

December 19, 2017. – Kaieteur News

The gold industry has recorded another good year.
During the recent Budget 2018 Debates, Minister of Natural Resources, Raphael Trotman said that gold continues to shine in Guyana and is contributing heavily to the economy.

Addressing the Speaker of the National Assembly, Dr. Barton Scotland, Trotman noted that for 2017, the Ministry of Natural Resources projected a gold declaration target of 700,000 ounces which when calculated, is on par with the previous year’s declaration.      Continue reading

Oil will not fall victim to vicious ‘friends and family’ culture – Trotman promises

Oil will not fall victim to vicious ‘friends and family’ culture – Trotman promises

The mining, forestry, and broadcasting sectors, among others, have been victims of an

Minister of Natural Resources, Raphael Trotman

unscrupulous culture. It is a culture which sees the close friends and families connected to government officials benefitting from revenue and/or resources which are intended for the benefit and development of the state and its people.

But this culture is not unique to Guyana. It is particularly prevalent in the oil and gas sectors around the world. As Guyana prepares for this new industry which is poised to bring gushing streams of revenue, Minister of Natural Resources, Raphael Trotman is assuring that the Government is going above and beyond to insulate the oil sector from corruption.    Continue reading

Guyana: Oil by 2020 – Exxon pegs production at 100,000 barrels per day

Oil by 2020 – Exxon pegs production at 100,000 barrels per day

By Ravin Singh

Exxon-Mobil- Deep Water Champion Oil Exploration Rig

Exxon-Mobil- Deep Water Champion Oil Exploration Rig

GUYANA is poised to start, from as early as 2020, producing an estimated 100,000 barrels of “good quality” oil per day, ExxonMobil has revealed. The announcement, made yesterday by ExxonMobil’s Country Manager Jeff Simon at a media engagement at Cara Lodge in Georgetown, saw Simon explaining that mainly drilling will be done between 2016 and 2019.

In May 2015, after having drilled the first Liza-1 well in the Stabroek Bloc offshore Guyana, the company made its first announcement of an oil find. In June this year, following the drilling of the Liza-2 well, another announcement was made of a “world-class discovery” of between 800 million and 1.4 billion barrels of oil. The company is presently drilling the Liza-3 well in preparation for exploration in about four to five years’ time.  Continue reading

Gold roars past 300,000 ounces – production projected beyond 600,000 ounces for 2016

Jun 28, 2016  – Kaieteur News 

 Government is aiming to top the 600,000 ounces mark for gold declaration this year with the first half showing encouraging signs.
As of June 22, last, around 315,000 ounces have been declared for the year so far, with Minister of Natural Resources, Raphael Trotman, stressing yesterday that contributions from the small and medium scale miners have been significant.

Of course, the two large players have been strong with Canadian-owned Guyana Goldfields Inc. targeting 75,000 ounces for the first half.
“Things are looking very positive. As you know, oil prices are going up. Gold has gone up significantly and we are looking to crest that 600,000 annual mark.”

Minister Raphael Trotman

Minister Raphael Trotman

That revised target will be significant, by any means. Last year, Guyana surged to 451,000 ounces despite a four-year low in gold prices.
An ambitious 550,000 ounces was set for this year but it looks this will be easily surpassed.   Continue reading

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