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Guyana News Updates, June 3-5, 2022

by terrence richard blackman
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Transforming Guyana, Episode I, Guyana and her Diaspora


– attached video

Wednesday, June 08, 2022 @ 10:30 am

Guyana Business Journal Magazine & Caribbean Policy Consortium



The Guyana Business Journal (GBJ) &Caribbean Policy Consortium launches a new Webinar Series, Transforming Guyana, on Wednesday, June 08, 2022, at 10:30 AM EST. Episode I: Guyana and her Diaspora focuses on promoting and encouraging a more profound and mutually beneficial relationship between Guyana and her Diaspora in her energy, economic diversification, and economic development journey. Panelists includeMr. Arthur DeakinDr. Vibert Cambridge,Dr. Lear Matthews, and Ms. Rosalinda Rasul. Please join us.



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

February 14-17, 2023




UWI SRC: Applications Open for Master’s in International Trade Policy





CDB Working to Accelerate Efforts to Increase Food Security – CARICOM Today


Single shared vision needed to protect Caribbean Agriculture, Food Systems – Guyana Agriculture Minister – CARICOM Today


Guyana: Staff Concluding Statement of the 2022 Article IV Mission



IMF says oil production ramp up makes Guyana’s prospects more favourable than ever before | OilNOW


IMF backs Guyana’s Gas-to-Energy Project | OilNOW


NOC partner must have deep pockets, deepwater experience – Guyana VP | OilNOW


IMF cautions Guyana about pace of public investment programmes – News Source Guyana



Guyana urged to approach accelerated spending of oil money with caution, gov’t says it is ready | OilNOW


As oil production surges, IMF says Guyana making progress in strengthening anti-corruption framework | OilNOW


Guyana’s Recovery Supported By Oil Boom – New York Carib News



Guyana earned over $68B from extractive sectors in 2019 | INews Guyana


Guyana’s fiscal, economic model allows for analysis of O&G sector: Guyana Chronicle  

THE Ministry of Natural Resources has said that Guyana has a fully integrated fiscal and economic model that allows for the government to analyse all the producing oil fields, as well as options for the future production of oil and gas. This model allows the government to have a good understanding of the forecasted costs, revenues, and Net Cash Flow (NCF) from the sector for both the government take and contractors’ take.


GOGEC, EPA sign MoU for energy sector collaboration: Guyana Times

With the aim of building relations, the Guyana Oil and Gas Energy Chamber (GOGEC) on Thursday signed a Memorandum of Understanding (MoU) with the Environmental Protection Agency (EPA) to collaborate in the local energy sector. The MoU was signed by GOGEC President Manniram Prashad and EPA Head Kemraj Parsram. According to the Energy Chamber, the objective of the agreement is to provide a framework for cooperation between both parties.


The misinformation on oil and gas must stop: Guyana Times (Letter to the Editor) by Alvin Hamilton

Journalism must be factual and have evidence to support its contentions. It should be as balanced and truthful as possible, especially when reporting on Guyana’s journey to develop its oil and gas sector. Sadly, some sections of the media are failing to meet the standard of journalism expected of investigative and focused journalists. Recently, there was an article that got my attention. It was about the oil and gas sector, and the newspaper was attributing all of its information to a particular source.


Guyana oil projects moving 2-3 times faster than any other in the world – Hess CEO | OilNOW


Guyana among countries that will attract biggest growth in oil & gas investment this year – Rystad Energy: Stabroek News  

The independent Norway-based energy research and business intelligence company, Rystad Energy, has tagged Guyana as being among two other named countries and a region that will attract most of the growth in investment in the global oil & gas industry in 2022. The report also names Brazil, Australia and West Africa, as the other locations where much of the remaining investment in the sector for this year is expected to be focussed.


Oil and gas related activities are far beyond Guyana’s major fishing zone – FAO report: OilNOW

The Food and Agriculture Organisation (FAO) of the United Nations has found no correlation between the oil and gas activities offshore Guyana and low catches that are sometimes experienced by local fisherfolk. In fact, FAO has found that while the oil and gas activities are taking place far beyond the main fishing zone, the floating production, storage and offloading units (FPSO) that are being used offshore Guyana can actually serve as an aggregation point for pelagic fishing in the same way as would fishing aggregation devices.


GYSBI joins forces with Houston logistics giant to service Guyana’s booming oil sector: OilNOW

UTC Overseas, an international freight forwarding, and cargo logistics company headquartered in Houston, has expanded its operations in Guyana after teaming up with the South American country’s largest shore base contractor, Guyana Shore Base Inc. (GYSBI). GYSBI’s 130-acre supply base on the Demerara River, close to the capital city Georgetown, provides shore-based management and logistics services for energy major ExxonMobil and other oil and gas operators in the region.


Oil fortune will give Guyana enormous influence in the region – fmr. House Speaker: OilNOW

Former Speaker of the National Assembly in Guyana, Ralph Ramkarran says the South American country can use its newfound oil wealth to increase its economic and political influence on the international stage, through a bold foreign policy that reflects its growing economic independence. He made this comment in his weekly online column, called The Conversation Tree. “Guyana has been blessed with the good fortune of petroleum reserves which can give it the possibility of utilizing its independence to influence economic and political developments in the region,” he stated.


Government refutes claim that Guyana will not benefit fairly from oil and gas sector: OilNOW

Guyana’s Ministry of Natural Resources on Thursday condemned an analysis of the country’s petroleum fiscal outlook, which was produced by Tom Sanzillo, Director of the United States based Institute for Energy Economics and Financial Analysis (IEEFA). Sanzillo, whose comments were carried in a privately owned local newspaper, claimed that every Guyanese citizen owes ExxonMobil GY$9 million and doubted that Guyana would benefit from the extraction and sale of its oil resources, among other things.


Production under new Liza 1 permit illegal without full coverage insurance — Fmr EPA Head: Kaieteur News

Former Head of the Environmental Protection Agency (EPA) Dr. Vincent Adams, is of the view that the current production from the Liza I and II Floating Production Storage and Offloading Vessels—Liza Destiny and Unity is illegal. This is since the operator of the Stabroek Block , within which the two oil fields are located—Esso Exploration and Production Guyana Limited (EEPGL), often times referred to as ExxonMobil Guyana, is yet to secure, unlimited insurance coverage from its parent company, above the US$2.5B that EEPGL had secured and committed.


Guyana’s carbon development model now more important than ever, UN rep says – Stabroek News



With LCDS 2030, Guyana aligns oil sector with global climate ambitions | OilNOW


ExxonMobil, Shell ‘swallow’ huge $$ losses in Brazil oil exploration setback: Stabroek News  

The international oil companies ExxonMobil and Shell Plc. face what a May 16 Bloomberg report describes as “expensive offshore exploration setbacks” to their plans to turn Brazil into a major oil & gas profit centre. Cumulatively, the two companies have reportedly recently sunk a total of US$3.6 billion into exploration wells offshore Brazil, but have, in each instance, come up with “non-commercial” wells. In the instance of Shell, a Bloomberg report says that over the past three years the company has drilled three exploration wells without finding any commercial volumes, the acquisition of the rights to the three blocks where the drilling occurred costing the company US$1 billion.


Suriname “open for business” as over 2,000 energy stakeholders expected at upcoming oil and gas summit: OilNOW

Suriname’s Energy, Oil and Gas Summit and Exhibition (SEOGS) will be making a return for its second edition, at a time when the South American nation is poised to be a major player in the global energy industry. Staatsolie Maatschappij Suriname N.V. – Suriname’s state oil company is hosting the event, with the full support of the country’s Ministry of Natural Resources and its Ministry of Foreign Affairs, International Business, and International Cooperation. Some 2,000 local, regional, and international energy stakeholders are expected to attend the event being held in Suriname’s capital – Paramaribo on June 28-30.


T&T’s National Gas Company working to create hydrogen economy: OilNOW

Given the leading role hydrogen is poised to play in the energy transition, Trinidad and Tobago’s state-owned National Gas Company (NGC) and its wholly-owned subsidiary, National Energy, in collaboration with the independent consulting firm, Kenesjay Green Limited (Kenesjay), are actively working on the creation of a sustainable hydrogen economy for the energy sector of the Caribbean Community (CARICOM) State.


Guyana becomes UK’s largest trading partner in the Caribbean – Guyana Chronicle


Energy Transition Report – Institute of the Americas



Guyana among countries to benefit from US$9.5M FAO fisheries project | INews Guyana





ExxonMobil Guyana posted: Guyana is on an exciting transformational journey, powered in part by the Gas to Energy (GtE) Project. Learn more about GtE as it paves the way for cheaper, more reliable, and cleaner source of energy that will drive the country’s industrial expansion.  #ExxonMobil #ExxonMobilGuyana #Guyana #GastoEnergy #OilandGas #Energy #EnergyLivesHere #MyExxonMobil


Centre for Local Business Development-Guyana posted: What is the Gas to Energy Project? Guyana is on an exciting transformational journey, powered in part by the Gas to Energy (GtE) Project. Learn more about GtE as it paves the way for cheaper, more reliable, and cleaner source of energy that will drive the country’s industrial expansion. The Centre’s monthly awareness seminars also has an Introduction to Oil & Gas and Gas to Energy module. Look out for when the June schedule is posted. #CentreGuyana #GreaterGuyanaInitiative #ExxonMobil #ExxonMobilGuyana #Guyana #GastoEnergy #OilandGas #Energy #EnergyLivesHere ExxonMobil Guyana


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