Home » Guyana News Updates, June 24-26, 2023

Guyana News Updates, June 24-26, 2023

by terrence richard blackman
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Caribbean diaspora webinar on shaping US-Caribbean policy: Atlantic Council and Caribbean Policy Consortium

Wednesday, June 29, 2022 @ 3pmET




Caribbean employment below pre-pandemic levels – World Bank survey | Loop Caribbean News



The fight against food insecurity in the Caribbean – Caribbean News Global


Climate Change Perceptions in the Caribbean – GeoPoll


Caribbean and US intensify cooperation – Docblot Suriname


David Jessop | US influence in the Americas is waning | Business | Jamaica Gleaner



Fire Juggling in the Energy Sector: Part 2 by Lorraine Sobers | OilNOW


Economist Michael Porter, Hess helping Guyana modernise services needed for booming oil economy | OilNOW


Manufacturing employees leaving for work in oil and gas industry    – News Room Guyana


Local standards compliance company wants businesses to ‘shine’ in oil and gas era: Stabroek News  

The presence of Global Compliance Service Guyana Inc. in Guyana can serve as a game-changer for the country at a time when the apparent direction in which its economy is heading will make more exacting demands on local service providers across the sectors, Global Compliance Service Inc. (GCS) Chief Executive Officer Candelle Bostwick has told the Stabroek Business.  Setting aside the fact that GCS is the only 100% Guyanese – owned and Accredited Certification Body in Guyana benefits from an image that is buttressed by an international brand.


Guyana’s Big Impact on Big Oil: Village Voice News  

View CNBC’s David Faber on an offshore oil vessel in the tiny South American country of Guyana, where he talks with the rig’s manager about production capacity. In this one-hour documentary, one of the most powerful, storied, and consequential players in the energy business, ExxonMobil gives CNBC unprecedented access to its executives and facilities as it plans for the energy transition. As gas prices skyrocket around the world, Faber explores ExxonMobil’s efforts to lower its carbon emissions while still pleasing its shareholders. Available to watch here for a limited time only.


Guyana’s largest shore base seeking vendors to expand local capacity: OilNOW

In keeping with Guyana’s strict Local Content regulations, the Guyana Shore Base (GYSBI) is on the hunt for local vendors that fit the 40 sectors outlined in Schedule 1 of the Local Content Act. “GYSBI has committed to this undertaking to ensure we are in compliance with the Local Content provisions. This process has been put into place to essentially prequalify Guyanese companies as vendors since we plan to give first preference to local companies to participate in procurement opportunities that are available at GYSBI,” the company said.


Exxon prepares to tender for construction of Guyana’s onshore gas pipeline: OilNOW

ExxonMobil on Thursday issued a Request For Information (RFI) for the construction of Guyana’s Gas-to-Energy onshore pipeline. It wants to use the information to compile a list of qualified bidders. In the public RFI, Exxon said it plans to install an onshore pipeline of about 25 kilometers, on the west side of the Demerara River, Region Three. The RFIs need to be submitted by July 15. Already, Exxon has started preliminary works, which include repairs of bridges and roads along the West Bank of Demerara (WBD) public road, to provide improved vehicular access and enhanced safety for residents in the area.


Slapped with $20M fine: RAMPS Logistics breached and bypassed local systems: News Room  

Hours after Ramps Logistics – a Trinidadian company offering full-service supply chain management in Guyana – denied manipulation of local systems, it has come to the fore that the company is currently facing a multi-million dollar fine for its breach and bypass of systems at the Guyana Revenue Authority (GRA). High-level sources have told the News Room that a few months ago, the company was fined $20 million by the GRA for breach of its customs regulations as attempts were made to bypass the safeguards put in place.


City Chamber says ‘rent-a-citizen’ tactics run counter to local content law: OilNOW

The Georgetown Chamber of Commerce and Industry (GCCI) says disapproves “rent-a-citizen” and “fronting” tactics potentially being used by companies operating in Guyana’s oil and gas sector, because such tactics run counter to the spirit of Guyana’s local content legislation.  In a statement Thursday, the Chamber said it has noted public discourse regarding local content and used the opportunity to express its disdain for these tactics which exploit Guyana’s local content laws and ultimately stifles the benefits Guyana receives.


Ramps under pressure in Guyana – Trinidad Express



Exxon’s contract on 2% royalty misleading as Guyana bears the burden – Chris Ram: Kaieteur News

– Guyana bears the burden

With the revelation that Royalty being paid to Guyana by ExxonMobil Guyana is in fact being recouped by the US-based, operator of the Stabroek Block, it would be apposite to note that the country was warned about the misleading nature of the Production Sharing Agreement (PSA) at least three years ago by Chartered Accountant Christopher Ram. He had at the time—September 2019 even before ExxonMobil Guyana began production offshore Guyana warned that the PSA at Article 15.5 suggests that the payment of the royalty is by the contractor but “that is at best misleading.” Royalty, he argued “is not being paid by the contractor but, like any other expense, is borne by the Government as well as the Contractor.”


Guyana losing big from 75% Cost Oil Exxon deducts: Kaieteur News

– areas include interest on loans, decommissioning fees, tax waivers—Intl Expert

Vice President Bharrat Jagdeo and officials of Esso Exploration and Production Guyana Limited (EEPGL)—ExxonMobil Guyana—have argued that Guyana in fact collects more profit than the oil companies with interests in the Stabroek Block but it is the additional terms in the agreement where ExxonMobil really benefits. This, according to Tom Mitro, a former director of the University of Houston’s Global Energy, Development and Sustainability program, and former Chevron executive with decades of experience negotiating international contracts. He argues that the country is losing primarily through the deductions being made by the operator and not necessarily in the profit-sharing aspect of the deal.


Govt seeks expert guidance on Glenn Lall’s challenge to Exxon tax waivers: Kaieteur News

– asks court for extra time

The Government of Guyana has asked the High Court for more time to seek expert guidance on how to respond to a case filed by Kaieteur News Publisher, Glenn Lall over the extensive tax waivers which were granted to Exxon Mobil, its partners and affiliates. In January, the Kaieteur News Publisher filed an action to challenge the Petroleum Agreement, dated June 27, 2016 between the Guyana Government and the oil companies. According to Lall the agreement between the oil company and the government grants exemptions to persons other than licensees, which violate the Petroleum Exploration and Production Act, the Financial Administration (and Audit) Act and the Constitution.


Guyana’s tax framework is not built for transparency – EITI Head – Stabroek News



Stabroek Block royalties not part of cost oil – Guyana tax boss | OilNOW


Tom Mitro failed to prove Guyana losing big on cost oil deductions | OilNOW


Govt forges ahead with gas-to-shore project despite objections: Kaieteur News

– Jagdeo says proposals for NGL, power plants to be in next month

By the end of July, the nine prequalified bidders for the Natural Gas fired power plant and the Natural Gas Liquids (NGL) plant are expected to submit their proposals to the Government of Guyana (GoG). The gas-fired power plant and the NGL plant are part of the US-multibillion Gas-to-Energy (GTE) project. The GTE project will encompass three major aspects, that is, the pipeline to transport the gas to Wales, West Bank Demerara, the NGL facility that will treat and separate the gas and the power plant to generate the electricity.


President insists on ‘realistic’ look at petroleum exploration   – News Room Guyana


The CCJ should be asked for an advisory opinion on Guyana’s Local Content Act: Kaieteur News (Columnist) Peeping Tom

Guyana passed into law a Local Content Act. Among the aims of the legislation was the prioritising of Guyanese nationals and companies in the procurement of goods and services for the petroleum sector. The Act defines a Guyanese company as any company which is incorporated under the Companies Act and in which Guyanese nationals have majority beneficial ownership, and which employs at least 75% of Guyanese in executive and senior management positions and at least 90% of nationals in other positions.


ExxonMobil Guyana posted (Construction of the Onshore Pipeline): ExxonMobil Guyana announces the following opportunity: For more information, visit https://centreguyana.com/


Center for Local Business Development-Guyana posted: ExxonMobil Guyana has published a Request for Information on the Construction of the Onshore Pipeline. Closing date for submissions is July 15, 2022. Full information can be found on https://centreguyana.com/opportunities/

#CentreGuyana #GreaterGuyanaInitiative #GasToEnergy #ExxonMobilGuyana #EnergyLivesHere


Center for Local Business Development-Guyana posted: Tullow Guyana B.V. is hosting its final session in a series of virtual capacity-building seminars through the Centre for Local Business Development on June 29, 2022. These sessions are targeted to oil and gas service providers. #CentreGuyana #Tullow #CapacityBuilding


Center for Local Business Development- Guyana posted: SUCCESS STORY l It’s E&A Consultants Inc’s time!

Executive Director Anasha Ally worked with the Centre from almost the beginning. Through the training and mentorship programmes offered, she has been able to improve her business’s capacity and position E&A to be more competitive in all economic sectors.  Here is her journey with the Centre. #CentreGuyana #GreatGuyanaInitiative #EAConsultancy #WomenOwned #WomenLed


Center for Local Business Development- Guyana posted: Amcham Guyana’s Governance and Security Sub-Committee is delighted to announce its inaugural security forum hosted on June 29, 2022. To register, kindly visit: https://amcham.gy/security-forum-registration/ #Amcham #AmchamGuyana #Security #Forum #Guyana


Guyana behind Russia, ahead of US for largest discovered volumes since 2015 – Rystad Energy: Kaieteur News

As Russia takes the lead for the largest discovered volumes of oil and gas resources since 2015, positioning at second is Guyana, which is followed by the United States of America (USA). This is according to Rystad Energy, a Norwegian group- an independent energy research and business intelligence company providing data, tools, analytics and consultancy services to the global energy industry.


SOLD OUT: Suriname gearing up for major energy conference this week | OilNOW


Correcting a foolish wrong re: Venezuela at OAS – Caribbean News Global


New Mexico Oil Refinery Cost Doubles  | Rigzone



Norway downplays its oil and gas wealth as ‘war profits’ roll in | Norway’s News in English — www.newsinenglish.no


Commonwealth backs judicial process to end Guyana/Venezuela border controversy | News | Jamaica Gleaner



54-nation Commonwealth backs judicial process to end Guyana/Venezuela border controversy – News Room Guyana


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