Tag Archives: Oil & Gas

ExxonMobil ups Guyana recoverable resources to more than 8 billion barrels, makes discovery at Uaru

Oil discoveries, including dry holes and the latest, Uaru.

IRVING, Texas – ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 billion oil-equivalent barrels and made a further oil discovery northeast of the producing Liza field at the Uaru exploration well, the 16th discovery on the Stabroek Block.

The new recoverable resource estimate includes 15 discoveries offshore Guyana through year-end 2019. The Uaru discovery is the first of 2020 and will be added to the resource estimate at a later date.          Continue reading

Guyana Politics: Granger-led coalition “likely” to win next “close” election -US Congress report

The United States Congressional Research Service (CRS), a think-tank for the United States (U.S.) Congress, says some analysts believe that the David Granger-led coalition is likely to win next year’s general elections.

“Past general elections in Guyana suggest the 2020 race will be close, but some analysts contend the APNU/AFC’s multiparty and cross-ethnic coalition is likely to sustain the Granger government in power,” the CRS said in its December 6, 2019 edition

Granger’s People’s National Congress Reform (PNCR) is the largest party in A Partnership for National Unity (APNU) umbrella which includes the often vocal Working People’s Alliance (WPA). The Alliance For Change (AFC) is the second largest party in the entire coalition.      Continue reading

ExxonMobil updates on oil exploration, local jobs and content at GIPEX 2019

ExxonMobil oil exploration served up 1,700 Guyanese jobs, GYD$36 billion to local businesses; gov’t crafting Guyana local content policy

ExxonMobil’s Senior Vice President Hunter Farris

ExxonMobil (Guyana) on Wednesday played up the local benefits of its operations in Guyana over the last few years, even as government’s Energy Department said it was crafting a local content policy that is relevant to Guyana.

Addressing the opening of the Guyana International Petroleum Business Summit & Exhibition (GIPEX-2019) at the Marriott Hotel, ExxonMobil’s Senior Vice President of Upstream Oil & Gas Company, Hunter Farris said so far more than 1,700 Guyanese or 50 percent of the 3,400 people in Guyana have worked in his company’s exploration and project activities directly.      Continue reading

Guyana can learn global oil industry standards from TT– Energy Chamber of Trinidad Tobago assures

  —“No, Trinidadian companies are not coming to take over”; 

ECTT CEO, Dr Thackwray Driver

The Energy Chamber of Trinidad and Tobago (ECTT) on Wednesday sought to dispel concerns that businesses from that twin-island Caribbean Community (CARICOM) member state are coming to Guyana to dominate the oil sector, instead saying that they are grasping business opportunities hinged on 100 years of experience and international safety standards.

ECTT Chief Executive Officer, Dr Thackwray Driver rubbished claims by sections of Guyana’s business community that Trinidadians are coming here in droves to take over the oil sector.    Continue reading

OPINION: Five years to real oil prosperity in Guyana could be an eternity – by GHK Lall

  by GHK Lall
Five years to 2025, according to the Hon. Minister of Finance. That is how long before the oil money would start coming in, the real meaningful money. The money that, if honestly and wisely (prudent is the word) used, could make a world of difference for Guyanese. Every single citizen. I can only agree with anyone, who harbors such a vision, and who then removes all obstacles that may prevent that from being reality. Remember: every citizen. Some cautions first.

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“APNU is not against cash grants” from oil revenues but more information needed – Granger

— WPA ready to negotiate modified proposal

President David Granger

President David Granger on Wednesday sought to dispel concerns that he is opposed to direct cash transfer of some oil revenues to Guyanese, even as the Working People’s Alliance (WPA) signaled that it was ready to modify its proposal with other political parties in A Partnership for National Unity (APNU) whenever those talks begin.

“There has been a lot of speculation and we ask that people put figures to their intention before we make any public discussion but the APNU is not against cash grants. It needs to know more so it can make a proper announcement to the people of Guyana,” the President said.              Continue reading

Exxon-Mobil: First Oil: Liza Destiny arrives in Stabroek Block

The Liza Destiny, Guyana’s ‘First Oil’ production vessel has arrived in the Stabroek Block after traveling nearly 11 thousand nautical miles from the Keppel Shipyard in Singapore, ExxonMobil announced Thursday.

The floating production storage and offloading (FPSO) vessel journeyed for 42 days, after a June commissioning ceremony at which First Lady, Sandra Granger renamed it “Godmother”.

After clearing customs, the vessel will be moored to the seabed (known as spread mooring) in preparation for production, storage and offloading of Guyana’s oil.          Continue reading

OIL: Greenidge, WPA executive members clash on direct cash transfers; AFC supports it

David Hinds (left) and Carl Greenidge.

Former Foreign Minister Carl Greenidge has confirmed that the Guyana government does not favour direct cash transfers into the hands of ordinary Guyanese on the grounds that it will encourage unemployment, a position that was roundly rejected by Chairman of the Buxton First of August Movement (FAM-Buxton), Professor David Hinds.        Continue reading

Guyana Politics: The “zone of convergence” must widen and encircle; must get real- By GHK Lall

It is encouraging to read that the President and Opposition Leader started meeting yesterday (Friday, Aug. 9, 2019) to discuss the way forward. It is the only option: meeting and exploring for finalizing; it is that and nothing else. Nothing else is there, other than the meaningless sounds and postures through public advertisements that do nothing for this country: sells nothing, buys nothing but trouble.

Each leader was accompanied by another from within his inner circle. The gathering must be narrowed from four to two soon. I have been and seen where all others had to leave the room and leave only two. That is how the real, hard, trailblazing business is pounded and grounded into grains, and then sifted meticulously. Both sides know that their positions are palpable, yet invisible to each other, unimaginable to the other, even in the contemplation.    Continue reading

Canadian business chamber to open doors in Guyana amid oil, gold rush

Canada’s High Commissioner Guyana, Lilian Chatterjee, President David Granger and Minister of State, Dawn Hastings at Canada Day 2019 reception.

Canada on Monday announced plans to established a business chamber in Guyana, as several Canadian companies step up preparations to search for oil offshore the South American nation.

Canada’s High Commissioner to Guyana, Lilian Chatterjee made the announcement at a reception at the Marriott Hotel to mark her country’s 152nd anniversary since three provinces came together to form that North American country.        Continue reading