Home » Guyana News Updates, June 29, 2022

Guyana News Updates, June 29, 2022

by terrence richard blackman
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Progress and Challenges in the Western Energy Markets

July 12-13, 2022




Natural Gas: The Ultimate Crossroad Challenge – July 20, 2022




Elizabeth Morgan | Serious matters for CARICOM | Commentary | Jamaica Gleaner


CARICOM Countries To Benefit From Fund To Strengthen COVID-19 Response | RJR News


War Puts Climate Change on the Back Burner – Bloomberg


Guyana to resume national climate resilience strategy this year | OilNOW

ICON LNG Guyana Inc imports its 150th ISO container of liquefied natural gasGuyana Times

ICON LNG Guyana Inc (ICON LNG) on Tuesday announced the importation its 150th ISO container of liquefied natural gas (LNG). Since the end of 2019, ICON LNG has supplied LNG to Demerara Distillers Limited (DDL) to be used for power generation. DDL is the first Guyanese company to recognise the benefits of LNG as a fuel for electricity production and uses it to run dual fuel gas/diesel generators that support its distillery operations in Great Diamond, East Bank Demerara. DDL recently expanded its use of LNG in process heating with the new manufacturing facility of its Tropical Orchard Products Company (TOPCO) subsidiary. The LNG will fuel a boiler used by TOPCO in the pasteurisation process of the company’s products, including fruit juices and milk.


now to stop the misinformation on oil in Guyana: Guyana Times (Columnist) Ramsammy’s Ruminations by Dr. Leslie Ramsammy

This past week, the Vice President took the opportunity to correct misinformation that is being spread by a handful of persons, who would rather Guyana lose out on the benefits it is presently extracting from the bad deal signed with EXXON. Two things Guyanese must be aware of: first, Guyana gets more than EXXON after expenses have been discounted. Second, the Irfaan Ali-led PPP Government has totally rejected any attempt by EXXON to discount the 2% royalty Guyana gets from total revenues as an expense. On the second matter, Guyanese ought to know that the deal the PNC/APNU/AFC signed with EXXON provided them with an opportunity to discount the 2% royalty as an expense. The PPP has refused to permit such an absurd giveaway.


Oil finds in Guyana, Suriname position countries to become “new force” in global energy sector: OilNOW  

Paramaribo, Suriname – Over the last two years, South American neighbours – Guyana and Suriname have been foisted into the limelight due to the exciting oil and gas discoveries being made in both offshore territories. To date, Guyana’s proven oil and gas reserves in the Stabroek block have shot up almost to 11 billion barrels, while Suriname’s Block 58 continues to churn out successive oil finds putting it among the hottest oil provinces in the world.


Massive 30 billion barrels of oil now estimated offshore Suriname – Staatsolie VP | OilNOW


Pres. Ali encourages local ‘consortiums’ to bid for oil blocks …tells oil summit Guyana’s approach is to produce as fast as possibleKaieteur News

Guyana’s President Irfaan Ali, is in neighbouring Suriname where that country is hosting a three-day Energy and Oil Summit, where he informed participants of the country’s decision to auction its available oil blocks and used the occasion to encourage local business interests to organise themselves into consortiums to take advantage of the opportunities. With this in mind, he told participants “we have taken an approach in Guyana to get to production as fast as possible.”


Suriname has ‘proud track record’ honouring contracts – oil Minister: OilNOW

Minister of Natural Resources for Suriname, David Abiamofo, said the nation is extremely proud of its track record in honouring contracts, including production sharing contracts. He made the comment during an interview with energy analyst from Americas Market Intelligence Arthur Deakin. Deakin questioned whether Abiamofo expects Suriname to bow to pressure to renegotiate existing contracts, as it increases its resource estimate.


T&T delegation for Suriname energy summit – Trinidad Express



Oil-rich Guyana, Suriname key to saving Caribbean from ‘mercy of other countries’ – News Room Guyana


Mitro has no analysis to validate claim that Guyana is losing big on 75 per cent cost oil deduction: Guyana Chronicle (Letter to the Editor) by Joel Bhangwandin

I am tired of responding to first world “so called experts” who have their own agenda and, based on their absurd pronouncements on Guyana’s affairs, probably believes that we are an uneducated population and lacks critical thinking abilities. I will never stop, however, to challenge, expose and discredit their arguments and pronouncements because that notion is not true and I will never allow these foreigners to treat us as such.


Greenidge distances self from ‘lopsided’ Exxon contract: Kaieteur News

Former Minister in the coalition administration, now advisor to the incumbent government, Carl Greenidge, has denied any role in the signing of the 2016 Production Sharing Agreement (PSA) between the Guyana Government and Esso Exploration and Production Guyana Limited (EEPGL) and their partners. He was at the time responding to a recent article in this publication under the caption, “Contract on 2% royalty misleading as Guyana bears the burden – Chris Ram”.


Massive 30 billion barrels of oil now estimated offshore Suriname – Staatsolie VP: OilNOW  

Paramaribo, Suriname – Suriname’s recent oil finds in Block 58 puts the Dutch-speaking nation’s recoverable resource count at over five billion oil-equivalent barrels. But that number is merely a tiny fraction of what is believed to be held in the Suriname basin. Seismic data obtained by Staatsolie, Suriname’s National Oil Company (NOC), suggests that the Suriname basin holds some 30 billion barrels of oil equivalent and this, according to Staatsolie’s Vice President of Offshore, Glenn Corrie, “is the real prize”.



Following correspondence from the Local Content Secretariat on Monday, notifying Ramps Logistics of the reasons it was denied a local content certificate, the company is no longer insisting that it was wrongly denied the certificate by “dark forces in Guyana” as it had claimed last week.


Exxon Guyana pays US office over $2B in past two years — Financial ReportKaieteur News

Esso Exploration and Production Guyana Limited (EEPGL) that is presently the Operator of the Stabroek Block, is not a Guyanese company. In fact, the company is registered in the Bahamas with ExxonMobil Global Holding Investment B.V. being the 100 percent owner of that company. That being the case, its branch—EEPGL/ExxonMobil Guyana—locally, is expected to make annual payments to its home office, amounting to hundreds of millions of dollars each year, as is outlined in the company’s most recent filings of its financial records. According to those documents, an amount of $847,407,889 ($800.5M) was due to be paid at the end of last year, while the previous year’s operations saw $1,326,315,642 ($1.4B).


‘We don’t want to hear your estimates, show us something solid’ – Gaskin to Jagdeo on gas-to-energy project: Kaieteur News

Two weeks ago, Vice President Bharrat Jagdeo held a press conference where he used estimates to convince the media and viewers of the live broadcast that the US-multibillion gas-to-energy project will slash electricity costs by half. He gave this assurance even though the final cost for the project has not yet been solidified. To this end, transparency activist, Ramon Gaskin, has said that the leader must show the country the feasibility study, rather than use assumptions to force the project.

Gaskin gave this view during a recent interview with Kaieteur News.


Solar power is cheaper than gasKaieteur News (Editorial)

In the world of energy, there are few sources of information more credible than the International Energy Agency (IEA). It pays for all Guyanese, regardless of what their leaders tell them, to listen to what the IEA is sharing with the world, and consider its meaning for Guyana. This is regardless of the politics, or whether they are loyalists, cult leadership followers, or fence sitters. This has to do with our well-being, and what makes for the soundest economic sense for us, nationally and as ordinary citizens and consumers.


Ramps says will meet Local Content Secretariat’s reasonable demands | OilNOW


Local Content and the two ‘Logistics’ companiesKaieteur News (Letter to the Editor) by David Patterson

In a June 25, 2022 article, “RAMPS under pressure in Guyana” that appeared in the Trinidad’s Daily Express newspapers, some interesting details were revealed. The gentleman, Deepak Lall, applied for his Guyanese citizenship in June 2021 and was issued his Guyanese passport on September 9, 2021 – a mere three (3) months after application. An open challenge to all – where else can one be approved for citizenship in such a short time period, even if that person has met all the legal requirements?


Protests for better oil deal spread across city – Kaieteur News



President says will ask National Assembly to decry political violenceStabroek News

-deplores death threat against him

President Irfaan Ali has said that he will be asking the National Assembly to pass a unanimous resolution decrying political violence and threats of assassination after a man threatened yesterday to kill him during a live broadcast on the Facebook page of APNU+AFC Member of Parliament Sherod Duncan. Duncan was broadcasting from the picket line as hundreds of East Coast residents, mainly from Golden Grove and surrounding villages, were blocking the main road and lighting fires. 

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