Home » Guyana News Updates, July 6, 2022

Guyana News Updates, July 6, 2022

by terrence richard blackman
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Post-Summit of the Americas Assessments for the Hemisphere: A Caribbean Perspective

Thursday, July 7, 2022 @ 10:30amEDT

Register here: https://us02web.zoom.us/webinar/register/WN_rTb6c0cPQumz7Y9DUPrOLg

Progress and Challenges in the Western Energy Markets

July 12-13, 2022


Transforming Guyana, Episode II: Sovereignty and a developing country’s rights to develop oil & gas sectors

Wednesday, July 13, 2022 @ 10:30 am

Guyana Business Journal Magazine


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


Energy Diplomacy: Foreign and Security Policy Contexts in the Caribbean


Trinidad & Tobago

August 2-5, 2022


Communique from 43rd Regular Meeting of CARICOM HoGs – Caribbean Trade Law and Development

Guyana-led agri agenda progressing with more free movement of people, goods – News Room Guyana

Region to capitalise on agri-strategy presented by Guyana – Caricom Chairman – Guyana Times


3,500 barrels of cooking gas per day, GY$27B in household savings for Guyana – AliOilNOW

President of Guyana, Dr. Mohamed Irfaan Ali said the government and households will see direct savings once the first phase of the landmark Gas-to-Energy project is delivered. He provided estimates during a recent State House event, outlining the project details. “We have just over 220,000 households connected to the grid now. The current revenue is about GY$40 billion. Cut that in half… that is $20 billion of savings for the households of Guyana,” the President said.

Driller with most rigs offshore Guyana looking for caterersOilNOW

Noble Drilling (Guyana) is on the hunt for suitable applicants to submit technical information for the provision of offshore catering, housekeeping, laundry, janitorial and pest control services. In a Request For Information (RFI), Noble said the scope of supply includes but is not limited to qualified personnel; personnel training; onshore and offshore management; supply of all provisions to complete the work; Health and Safety Executive (HSE) management and sub-contracted pest control services.

Guyana gov’t moving ahead with preparations for gas project: Stabroek News

…though environment permit still to be issued

Both the government and ExxonMobil seem to be moving ahead with their plans for the gas-to-energy project despite the absence of an environmental permit from the EPA. he project is part of the bigger plan by the government for the Wales area and will be executed in two parts. ExxonMobil will be responsible for the construction of the pipeline to transport natural gas from offshore Guyana while the government is responsible for the construction of the Natural Gas Liquids (NGL) plant and other supporting facilities.

Blow-out wins highlight ExxonMobil NSBF: Stabroek News  

—President’s College mauls North Georgetown 86-2 while Kwakwani girls team whips D-UP Academy 53-0

President’s College and Marian Academy secured lopsided wins in the boy’s U16 division when the ExxonMobil National School Basketball Federation (NSBF) continued last evening at the Cliff Anderson Sports Hall, Homestretch Avenue. President’s College dismantled North Georgetown 86-2. Ezekiel Saul led the rout with figures of 29 points, nine rebounds, and nine steals whilst Dejaun Grant recorded a double-double of 22 points and 12 rebounds.

AmCham’s inaugural Security Forum addresses corporate security in Guyana: Guyana Times

The American Chamber of Commerce of Guyana, through its Governance and Security Sub-Committee, hosted its Inaugural Security Forum, emphasising on corporate security and challenges to national security… Attendees at the forum were given the opportunity to engage with Commissioner of Police Clifton Hicken; National Security Advisor, Captain Gerald Gouveia; Private Sector Chairperson-OSAC Guyana, Retired Colonel Brian Chin and Security Manager for ExxonMobil Guyana, Curt Clements.

Lack of access to affordable capital in Guyana, Suriname May hinder development of oil bonanza – Analyst: Guyana Standard

Guyana and Suriname have to date discovered more than 17 billion barrels of oil equivalent and gas reserves that exceed 30 trillion cubic feet. In fact, by mid 2030, Guyana is expected to produce over 1.4mn barrels per day (bpd), the third-highest in the region, while Suriname will produce 650,000 bpd, the fifth most in Latin America. Despite the promising future for the two South American countries, International Consultant and Co-Director of Energy at Americas Market Intelligence (AMI), Arthur Deakin recently posited that the energy development of these two nations are at risk of being hindered by the lack of access to affordable capital.

Without renegotiation Exxon contract ties Guyana to meagre share until oil is exhausted — Prof. Hunte: Kaieteur News

The production sharing agreement with ExxonMobil Guyana and its provisions as is, will ensure that Guyana continues to receive the 14.5 percent take from its oil reserves in the Stabroek Block until those oil reserves have been exhausted. This is the conclusion of former Guyanese plenipotentiary representative, Professor Cyril Kenrick Hunte, who in repudiating arguments that in time, the 75 percent cost recovery being deducted for Exploration and other costs such as the initial capital layout would be reduced thereby increasing the share due to the country.

Major multi-million-dollar infrastructural projects being implemented countrywide – Department of Public Information, Guyana

Govt. spending on new projects expands by 170% – BoGKaieteur News

The country’s central bank recently released a report outlining the performance of the country during the first quarter of the year. A major highlight of the document is that government spending on capital (new) projects increased by a whopping 170.5 percent. According to the Bank of Guyana (BoG) report, the country’s total current expenditure, including interest charges, stood at $51.4B which reflected budgetary spending. The Bank explained that “major disbursements” were made particularly in the housing and construction sectors, which represented 41.9 percent and 32.9 percent of total capital expenditure, respectively for the period under review.

Stabroek Block clean-up costs subject to continuous review — Financials: Kaieteur News

While already more than US$355M is being deducted from oil produced in the Stabroek Block for the decommissioning (clean-up) phase at the end of the life of each oil well, information coming to light indicate that this estimate is routinely changed, taken into account changing inflation rates and pre-tax discounts. The information is contained in the Financial Statement for at least one of the production partners in the Stabroek Block working along with Esso Exploration and Production Guyana Limited (EEPGL)—ExxonMobil Guyana.

Oil production dips in first quarter despite use of 2nd FPSO – BoG: Kaieteur News

Bank of Guyana (BoG) has reported a decline in oil production for the first quarter of 2022, despite the coming on stream of a second Floating, Production, Storage and Offloading (FPSO) vessel, the Liza Unity. The information is contained in the Bank of Guyana’s quarterly financial report for 2022, documenting the financial affairs of the country up to March pointed to, “a marginal decline in the production of oil.”

Venezuela And CARICOM Look To Resume PetroCaribe Deal | RJR News – Jamaican News Online


Venezuela to begin supplying oil to CARICOM – Gonsalves: Stabroek News

Venezuela will begin supplying several CARICOM countries with oil as regional heads have agreed to resume the PetroCaribe agreement and have called for the end to US sanctions that brought it to an end, says Ralph Gonsalves, the Prime Minister of Saint Vincent and the Grenadines. This revelation was made last evening at the closing ceremony of CARICOM’s 43rd Regular Meeting of the Conference of the Heads of governments hosted by Suriname. According to the Gonsalves, he struck the deal with President Nicolas Maduro ten weeks ago during a visit to Venezuela.

Stabroek News reports Venezuela will begin supplying several CARICOM countries with oil as regional heads have agreed to resume the PetroCaribe agreement and have called for the end to U.S. sanctions that brought it to an end, says Ralph Gonsalves, the Prime Minister of Saint Vincent and the Grenadines.

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I feel even more strongly about these four baskets for oil revenues: Stabroek News (Letter to the Editor) by Tulsi Dyal Singh, MD.

Guyana will receive half the profit oil, ranging from a minimum of 12.5% of sales to considerably higher percentages, depending on the average price of oil, natural gas liquids and natural gas over the next seven to ten years. This is in addition to the 2% royalty on sales of oil; natural gas liquids; and natural gas sold by the operators.  Like in any business, the operators will first take out their operating expenses.

Oil companies do not own Guyana, renegotiate Exxon deal: Stabroek News (Letter to the Editor) by Dr. Jerry Jailall

President Ali recently said, “Talks with Exxon are like negotiating with a superpower.” Such comments make it seem as if the oil companies are all powerful more than God, and that they act like bullies.  Mr. President, Exxon is not a country, and is not a superpower. Darren Woods and Alistair Routledge are not Presidents of a rich country, you are. Did the PPP think Exxon was a superpower when the PPP publicly was telling voters they would “review and renegotiate” the oil contracts, but was secretly promising Exxon they will not renegotiate the contracts?

Centre for Local Business Development-Guyana posted (Radiator and Cooler Repairs, Spot PO – Purchase of Safety Mirror, Tender REP GU – HSE – N – 7223 Occupational Medical Services, Tender REP GU – HSE – N – 7226 Environmental Consulting Services,  Tender REP GU – HSE – N – 7224 Supply of PPE for Halliburton Guyana Inc.): Halliburton has published several Expressions of Interest and Requests for Information.  To view the full details of each, visit centreguyana.com/opportunities/ #CentreGuyana #GreaterGuyanaInitiative #HalliburtonGuyana

Centre for Local Business Development-Guyana posted (Integrated online Payroll System,  RFI – GU – RES – N – 11626 Soil Condition, Purchase of a Radio and Headset, Purchase of a 10 ton Crane Scale, Spot PO Requester Chair, Purchase of Cabinets, Utility Car Digital Multimeter, Fabrication of a Shelf,  Barrel of 46 grade hydraulic Mineral Oil 208L,  RFI Lockers for changing Room & RFI Label Storage Boxes):  Halliburton has published several Expressions of Interest and Requests for Information. To view the full details of each, visit centreguyana.com/opportunities/

#CentreGuyana #GreaterGuyanaInitiative #HalliburtonGuyana

African Chamber says western environmentalists threaten continent’s energy security: OilNOW

Despite the massive socioeconomic and energy benefits expected from the upcoming East African Crude Oil Pipeline (EACOP), western environmentalist groups are calling for the abandonment of the project. In light of this, Executive Chairman of the African Energy Chamber NJ Ayuk defended this mammoth development which, he expects, will make the African continent energy secure.

Shell joins list of majors in Qatar’s mega LNG project: OilNOW

QatarEnergy has now added oil supermajor Shell as a joint venture (JV) partner in its mega North Field East liquefied natural gas (LNG) project. Shell will hold a 25% stake in the JV company that will own 25% of the North Field East (NFE) expansion project. The entire NFE project includes four mega LNG trains with a combined nameplate capacity of 32 million tonnes per annum.

Norway’s government steps in to end oil and gas strike, averting a new energy shock for Europe – CNN


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