Guyana News Updates, June 14, 2023

Media Advisory June 11, 2022: Guyana Business Journal & Caribbean Policy Consortium hold a webinar on Transforming Guyana: Guyana and Her Diaspora

Guyana Business Journal Magazine – June 8, 2022

  • Attached video

 

 

OIL DORADO;GUYANA’S DREAM OR NIGHTMARE?

SUNDAY JUNE 19TH 3.00 BRITISH SUMMER TIME

Watch worldwide on you tube  https://youtu.be/GR_U66wbIjM 

Join John Mair the editor of OIL DORADO:GUYANA’S BLACK GOLD?(available on Amazon)

and a small cast of those in the know to discuss the new Klondike.

One Billion US dollars in the wealth fund by end 2022.11 Billion Barrels of oil already found/forecast,90% success rate in finding new wells,a barrel of oil per person in Guyana by 2025.

How much oil money is there and where will it go?

Cast to date.

Sally Gibson Guyanese born petroleum lawyer.

Sanjeev Datadin MP.Guyana lawyer and politician.

Terence Yhip Economist and Managment Consultant

Christopher Ram Accountant.lawyer and activist

Tulsi Dyal Singh.Guyanese born US gas investor.

Dr Terrence Blackman.US based writer on oil

Big questions.If you have one send in advance to johnmair100@hotmail.com

 

 

Latin America Energy Transition to Net Zero

AMI Webinar – Tuesday, June 21, 2022

https://americasmi.zoom.us/webinar/register/4716552301460/WN_vD49_OzaRJGaowVDbo0byw

 

 

Rebuilding Energy Security: The Role of U.S. Oil and Gas

Center for Strategic and International Studies – Wednesday, June 22, 2022

https://www.csis.org/events/rebuilding-energy-security-role-us-oil-and-gas

 

 

“ExxonMobil at the Crossroads” premieres on Wednesday, June 22nd at 8 PM ET

https://www.cnbc.com/exxonmobilatthecrossroads/

“In this one-hour documentary, CNBC’s David Faber goes inside one of the most powerful, storied, and consequential players in the energy industry: ExxonMobil. Once seen as untouchable, the company is now facing shareholder challenges over its direction and criticism that is fostered public uncertainty about global warming. As gas prices skyrocket around the world, Faber gains unprecedented access to company executives, workers, and facilities to examine ExxonMobil’s efforts to lower its carbon emissions and find out whether the company is ready for the energy transition. “ExxonMobil at the Crossroads” premieres on Wednesday, June 22nd at 8 PM ET.”

https://www.cnbc.com/exxonmobilatthecrossroads/

 

The TV ad promoting the documentary shows David Farber (one of CNBC’s Senior Correspondents) standing atop one of the Floating Production Storage Offloading (FPSO) vessels off the coast of Guyana.

 

 

 

Guyana Could Overtake Brazil As South America’s Top Oil Producer | OilPrice.com

https://oilprice.com/Energy/Crude-Oil/Guyana-Could-Overtake-Brazil-As-South-Americas-Top-Oil-Producer.html

 

Oil funds stand at over US$643M: Guyana Chronicle

–with returns of over US$100M from Guyana’s latest sale of crude

GUYANA’S latest sale of oil has pushed its revenues in the Natural Resource Fund (NRF) to US$643,981,234, according to the latest statistics from the Bank of Guyana. Based on information from the Central Bank, the country received G$21,381,305,000 (approximately US$102M) from the sale of its latest share of oil from the offshore operations of ExxonMobil. Under the Production Sharing Agreement (PSA), Guyana receives two per cent royalty and 50 per cent profit oil, which is what remains after the producer recovers its production cost.

 

Guyana taking right Hess mulls exiting US reservoirs to focus on Guyana: Kaieteur News

With Guyana recording the largest discovery of oil and gas resources in the last 20 years and with a shift in investment patterns in the industry, at least one of the partners in the Stabroek block has signalled an exit from the US and other developments in order to focus on the likes of Guyana and Suriname. This was the sentiment of Hess Corporation’s CEO John Hess, who recently confirmed that the company has seen its fortunes grow with its interest in the Stabroek Block, a reservoir that has grown the company’s asset base.

 

Guyana taking right steps to avoid pitfalls of oil producing nations, says British High Commissioner: OilNOW

With only two and a half years as an oil producer, Guyana has been taking firm steps to steer clear of the commonly made mistakes and pitfalls of the petroleum industry thus far. This, according to the British High Commissioner to Guyana, Jane Miller, sets the South American nation apart from the rest and guarantees a flourishing future ahead. Appearing on a local radio show – Guyana’s Oil and You hosted by Senior Journalist Kiana Wilburg – the British diplomat commended the government’s economic plan for the massive oil revenues accrued in the Natural Resource Fund (NRF).

 

Incredible growth rate makes Guyana number one investment destination in the region – Go-Invest CEO: OilNOW

When the World Bank released its latest global economic forecast, the President of the international institution David Malpass wrote that for many countries, “recession will be hard to avoid.” In that same report, the World Bank projected that Guyana is anticipated to lead Latin America and the Caribbean with the highest growth in 2022. In fact, when it comes to this country, the World Bank said the oil-producing nation remains on track for a 47.9% growth rate followed by 34.3% the following year – still representing the highest growth forecast for the region.

 

Guyana-China relations have flourished over five decades – World – Chinadaily.com.cn

http://global.chinadaily.com.cn/a/202206/15/WS62a935e9a310fd2b29e62cbd.html

 

Hess hoping for approval of 6th development at Stabroek Block by end of next year: OilNOW

Chief Executive Officer of Hess Corporation, John Hess, said he hopes that by the end of 2023, approval will be secured for ExxonMobil to place its sixth floating production storage and offloading (FPSO) vessel at the Stabroek Block. Hess is a 30% stakeholder in the block, where Exxon, the operator, has discovered nearly 11 billion oil-equivalent barrels. ExxonMobil’s plan is to place six FPSOs offshore Guyana to produce 1.2 million barrels of oil per day by 2027.

 

Public hearing for June 30 on Exxon’s 12-well drill campaigns for Kaieteur, Canje Blocks: OilNOW

Guyana’s Environmental Assessment Board (EAB) is set to hear concerns surrounding ExxonMobil’s planned 12-well drill campaigns for the Kaieteur and Canje offshore blocks on June 30. A notice published by the EAB on Monday outlined that the public hearing will address this Environmental Protection Agency (EPA)’s non-requirement of Environmental Impact Assessments (EIAs) for both projects. It will be held in the Conference Room of the Roraima Duke Lodge at 1 pm.

 

NCNNCN BUSINESS| THE CASE FOR A NATIONAL OIL COMPANY

The Government is considering forming a national company to manage its oil resources, but what are the pros and cons involved?  Financial Analyst, Joel Bhagwandin has sought to make a case for such a facility, while pointing to several variables. We find out more in this Republic Bank-sponsored Business Report.

  

Attorney flays Govt. over lack of regulations for gas-to-shore project: Kaieteur News

It appears as though United States oil major, ExxonMobil will be creating and adhering to its own standards in the development of the gas sector, as it has been doing with the ongoing oil operations, in the absence of sound regulations and guidelines. Attorney-at-Law, Elizabeth Deane-Hughes in a recent interview with Kaieteur News, pointed to the grave dangers Guyana is exposed to as a result of such fundamental steps not being taken by government. She said: “it’s a pity that the nation is not being informed by either party (government or Exxon) of the governing laws and its regulatory framework.

 

Paying our oil taxes: Kaieteur News (Letter to the Editor) by David Carpenter

I am sorry if I am asking a stupid question, if the oil companies add more FPSOs and the more profits they make then the greater will be the tax bill. What happens when we can no longer have the income to pay?

 

APA shares fall 4% after encountering water-bearing reservoirs offshore Suriname: OilNOW

APA corporation, an affiliate of Apache Corporation, said it encountered water-bearing reservoirs at Rasper well in the northwestern area of Suriname’s Block 53. “The well encountered water bearing reservoirs in the Campanian and Santonian intervals, evaluation of the open hole well logs, and formation and reservoir fluid samples is ongoing,” the company said on Monday after completing operations at the well. Reuters called the result disappointing and noted that APA’s shares fell 4% following the news.

 

Biden’s Saudi oil soft sell- POLITICO

https://www.politico.com/newsletters/morning-energy/2022/06/14/bidens-saudi-soft-sell-00039324

 

Explosion at Texas terminal injects uncertainty into global energy market | The Hill

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