Home » Guyana News Updates, May 19, 2022

Guyana News Updates, May 19, 2022

by terrence richard blackman
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Guyana: the world’s fastest growing economy

MENAS London – Wednesday 25 May 2022




Int’l Energy Expo 2023 launched with focus on traditional sectors – Guyana Times





Building…a new Caricom? | INews Guyana


‘We must do better to remove trade barriers imposed on each other’ – CARICOM Chairman – News Room Guyana


Rowley, Mottley ponder single company register for CARICOM – News Room Guyana


Time to tackle US$6b regional food import bill | Local Business | trinidadexpress.com



Mottley says some imports offensive to independent CARICOM, urges ‘change in mindset’ – News Room Guyana


Community talks begin on ExxonMobil’s Uaru project: Guyana Chronicle  

PERSONS from across the country have been invited by ExxonMobil Guyana to learn about its proposed Uaru project and to put forward questions or concerns that they might have regarding this potential operation in the Stabroek Block, offshore Guyana. In order to move forward with plans for Uaru, the company would have to obtain environmental authorisation from the Environmental Protection Agency (EPA). And part of this process involves engaging the public on the project. The project, according to a summary from ExxonMobil, will be designed to add up to 250,000 barrels of oil per day to existing daily production volumes in Guyana.


ERM will not conduct Exxon’s next environmental study – official: Stabroek News  

-WBD residents call for consultation on natural gas pipeline route

Amid controversy over the use of one consultant for all of its environmental impact studies, ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) has revealed that the next study will not be executed by ERM. This was revealed by the Manager for the Gas to Shore Project, Friedrich Krispin during a public discussion at the West Demerara Secondary School, Pouderoyen, West Bank Demerara (WBD) yesterday. The sessions are being held by Environmental Resources Management (ERM) to discuss the findings of its Environmental Impact Assessment (EIA) for the gas to shore project which is expected to run from the Stabroek Block offshore Guyana and land at Wales, WBD.


Guyana received over GY$16 billion in royalty payments since 2020OilNOW

Since becoming an oil producer, Guyana has received GY$16,889,629,390.29 (US$81,005,416.74) in royalty payments. In keeping with the stipulations of the Natural Resource Fund Act 2021, the information was recently presented to the National Assembly after being published in the Official Gazette of Guyana and recorded by the central bank. Guyana’s first royalty payment was received on April 28, 2020 – approximately GY$1,025,716,860 (US$4,919,505.30). The last royalty payment of GY$3,354,329,508 (US$16,087,959.27) was made on January 27, 2022.


Guyanese aqua-farmer inks major deal with SBM to rear premium shrimps, prawns for all FPSOsGuyana Standard

Dutch shipbuilder, SBM Offshore has agreed to provide Hubu Aqua Farms Incorporated with the financial support it needs to rear premium shrimps and prawns at its Hubu Aqua Farm, East Bank Essequibo (EBE). This arrangement was solidified via the recent signing of a Memorandum of Understanding (MoU).Guyana Standard understands that the facility will be the first of its kind as it will be fully equipped with a hatchery, processing, and manufacturing facility. Significantly, the produce from the project would be used to supply all Floating Production Storage Offloading (FPSO) vessels being operated offshore by SBM. 


Exxon’s 5th project will sink fishing industry into deeper trouble: Kaieteur News

Esso Exploration and Production Guyana Limited (EEPGL)—ExxonMobil Guyana—has in its project summary conceded that the project will, in addition to emitting additional Green House Gases into the atmosphere but can possible decimate not only the fishing industry, but could potentially impact beaches, mangroves, and wetlands as wildlife habitat. As such, according to the company, throughout the life of the project there will be a continued threat to Guyana’s environment and marine habitat in the event of an unplanned event such as an oil spill.


itel invests millions in Guyana contact centre operations – Guyana Chronicle


Guyanese farm eyes 200 workers, multi-billion export market – News Room Guyana


Refrain from MoU with T&T until trade barriers are removed – Georgetown Chamber tells GovernmentOilNOW

The Georgetown Chamber of Commerce and Industry (GCCI) is strongly urging the government to refrain from inking a Memorandum of Understanding (MoU) with Trinidad and Tobago, until the twin-island nation opts to remove its Non-Tariff Barriers (NTBs), which are hampering exportation and expansion for Guyanese businesses.  Prime Minister of Trinidad, Dr. Keith Rowley arrived in Guyana on Tuesday for the highly anticipated Regional Agri Investment Forum and met with President Dr. Mohamed Irfaan Ali at State House, where they engaged in a discussion focused on agriculture, energy, and natural security.


Tucker knocks T&T trade barriers again as Rowley, Ali prepare to sign MoUOilNOW

As Prime Minister of Trinidad and Tobago, Dr. Keith Rowley arrived in Guyana for the Regional Agri-Investment forum, one businessman Timothy Tucker is reanimating the discussion about non-tariff barriers to trade. Timothy Tucker, who happens to be President of the Georgetown Chamber of Commerce and Industry (GCCI) posted on Facebook, “Dear President Ali, Don’t sign any MOU with Trinidad until PM Rowley removes all NON Tariff Barriers.”


T&T appoints Chair of National Gas Company as High Commissioner to Guyana: OilNOW

Conrad Enill, the current Chairman of Trinidad and Tobago’s National Gas Company (NGC) is now the twin-island Republic’s High Commissioner to Guyana. His appointment comes at a time when Guyana is amassing considerable natural gas reserves in the offshore Stabroek Block, and is planning a landmark project to pipe this to shore to cut the cost of electricity by more than half.


Biden administration mum on plans to ease Venezuelan oil restrictions; lawmakers speak out | S&P Global Commodity Insights



US lawmakers blast change in policy towards Venezuela; oil projects could increase: OilNOW

(S&P Global Platts) Details remained scant May 18 on a US policy shift that could chart a path for US companies to again invest in and operate Venezuelan oil projects as the Biden administration has reportedly begun to ease oil sanctions on the country. While the administration has yet to officially announce any changes to US policy towards the regime of President Nicolás Maduro, several lawmakers put out statements criticizing a policy shift they contend was aimed at restarting dialogue between Maduro’s ruling government and the US-backed, opposition Venezuelan Unitary Platform.

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