Guyana News Updates, August 19-21, 2022

UWI SRC-CPC webinar Friday September 2, 2022

US-CARICOM TIFA/TIC Trade and Investment Relations

Register for the webinar at: https://zoom.us/webinar/register/WN_cGtRSOS7RMqxEkfZNjcSjA

 

 

AfriCaribbean Trade and Investment Forum 2022 – One People. One Destiny

September 1-3, 2022 Barbados

https://africaribbean-trade-investment-forum-2022.b2match.io/

 

 

XXXI La Jolla Energy Conference

September 28-29, 2022

https://iamericas.salsalabs.org/la-jolla-conference-2022-preliminary-agenda?wvpId=e61fc00c-5202-4561-bdf9-9381c4304e10

 

 

Guyana Basins Summit

October 4-6, 2022

http://guyanabasinsummit.com/en

 

 

 

  • CARICOM Agriculture Investment Summit – August 19, 2022

25% by 2025 Reduction in the Regional Food Bill – CARICOM

Ali: We don’t have the luxury of time to advance food security – Trinidad Express

https://trinidadexpress-tto.newsmemory.com/?publink=24e98fa8c_13485b7

Pres. Ali warns: unless regional private sector acts, C’bbean leaders will be forced to look abroad – News Room Guyana

PM: Region in danger – Trinidad Express

https://trinidadexpress-tto.newsmemory.com/?publink=14e98fa8c_13485b7

Trinidad and Tobago, Guyana appoints technical task force; announces Head of the States – Writeups 24

Private sector urged to help improve regional transportation of goods | News | Jamaica Gleaner

They agreed to establish a Working Group to provide oversight of the project which will include representatives from the Governments of Barbados, Grenada, Guyana and Trinidad and Tobago, as well as the CARICOM Secretariat, CARICOM Private Sector Organisation (CPSO), and the CDB.

https://jamaica-gleaner.com/article/news/20220819/private-sector-urged-help-improve-regional-transportation-goods

CARICOM impatient with private sector on solving transportation problem for agriculture – Demerara Waves Online News- Guyana

CARICOM energy leaders make headway on food security | OilNOW

Remarks by Chairman of CARICOM, Opening, Agri Investment Forum and Expo II, Trinidad and Tobago, 19 August 2022 – CARICOM

Remarks by CARICOM Secretary-General, Opening, Agri Investment Forum and Expo II, Trinidad and Tobago, 19 August 2022 – CARICOM

President Suriname: US$100 million for region’s Agricultural Sector – Culturu.com

https://www.culturu.com/nieuws/suriname/president-us100-million-for-regions-agricultural-sector/

Guyana enters top 100 per capita economies | OilNOW

Economic analysis of Guyana: Agriculture, manufacturing & gold among non-oil sectors projected to grow in 2022 – IDB – Guyana Times

 

Analysis of Agricultural Policies in Guyana (2015-2019)

https://publications.iadb.org/en/analysis-agricultural-policies-guyana-2015-2019

 

Caribbean Economics Quarterly: Volume 11, Issue 2: Finance for Firms: Options for Improving Access and Inclusion

https://publications.iadb.org/en/caribbean-economics-quarterly-volume-11-issue-2-finance-firms-options-improving-access-and

 

Exxon’s risk and Shell’s multi-billion-dollar missed opportunity in Guyana’s Stabroek Block | OilNOW

 

Customs Petroleum Officers receive offshore safety, emergency response training: News Room  

See the full statement from the Guyana Revenue Authority below:

Twenty-three officers within the Customs Petroleum Unit (CPU) of the Guyana Revenue Authority completed a Tropical Helicopter Underwater Egress Training (THUET) course to develop knowledge and operating procedures in offshore safety and emergency response. The training session conducted at HHSL Safety Systems Limited in Trinidad and Tobago is mandatory for the officers who perform Customs controls and other monitoring functions on board oil exploration vessels.

 

Maersk Discoverer confirmed for new Guyana well in fourth quarterOilNOW

The Maersk Discoverer semisubmersible drilling rig is confirmed for exploration operations offshore Guyana in the fourth quarter of this year. According to Maersk’s latest Fleet Status Report, the rig is scheduled to be in Guyana, on contract with CGX Resources Inc., from October 22, 2022, to January 23, 2023, after completing drilling operations in neighbouring Trinidad and Tobago. The rig will be targeting the Wei-1 exploration well, located approximately 14 kilometres northwest of the Kawa-1 exploration well in the Corentyne block, approximately 200 kilometres offshore from Georgetown.

 

More bills for Guyana as ExxonM signs new contract for subsea exploration services: Kaieteur News

Norwegian marine seismic survey company, Magseis Fairfield, has signed a 14 month contract with ExxonMobil subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) for a large Ocean Bottom Node (OBN) project while will be conducted offshore Guyana in the country’s lucrative Stabroek Block. The company made the announcement Wednesday, expressing excitement over the possibility of accessing other such projects in the region.

 

Nandlall says magistrates not treating elections fraud cases seriously: Kaieteur News

Attorney General (AG) and Minister and Legal Affairs, Anil Nandlall, SC has expressed concerns over what he described as the slow pace in the prosecution of the elections fraud cases. Back in 2020, over 30 fraud-related charges were brought against, former Chief Elections Officer (CEO) of the Guyana Elections Commission (GECOM), Keith Lowenfield, Deputy Chief Elections Officer (DCEO), Roxanne Myers, former Region Four Returning Officer, Clairmont Mingo, and Opposition Member of Parliament, Volda Lawrence.

 

Govt assessing “strategic partner” model for national oil company ahead of oil block auction: Kaieteur News

President Irfaan Ali has said that his administration is still looking at the business model to allow a strategic partner to operate and manage the country’s potential oil company ahead of the upcoming oil block auction which was scheduled for next month, but has now been pushed back toward the end of the year. The Government had set September for the offshore oil blocks to be auctioned to interested parties, but President Ali has said that feedback on this is still coming in, and the auction will be held after all information is considered.

 

Govt ironing out fiscal terms before auctioning off remaining oil blocks – VP – Guyana Times

 

Local Content – The Minister has the power: Kaieteur News (Editorial)

There are two ongoing developments involving the application of Guyana’s Local Content law, which are negatively impacting Guyanese hoping to get their share of our oil wealth.  The first has to do with bundling of contracts, and the second is about payment delays for goods and services rendered. This negative impacts from both should not be so, as we pointed out in a recent caption, which states that “Local Content law gives Minister Bharrat the power to regulate bundling and payment delays” (KN August 18).  Since the Minister has the power, why is he not using it to benefit Guyanese?  What is preventing him from doing so?

 

Local Content Secretariat filtering all applications vigorously for schemers – BharratOilNOW

Unrealistic quotas or requirements for local content are often cited as key factors which open the doors for “fronting”; a case where nationals may be listed as shareholders, executives, or management, without real participation in the strategic decision-making process of foreign entities. They may even have lower salaries than their expatriate peers. With Guyana’s Local Content legislation just being a mere seven months old, fronting has been one of the key trends being uncovered by the Local Content Secretariat.

 

Government joins Private Sector Commission in expressing concern about contract bundling in oil sector: News Source  

Some in the business community believe contract bundling works against the spirit and intent of Guyana’s Local Content Act, and is defeating the objectives of the Act as it relates to private sector development… However, ExxonMobil Guyana President, Mr Alistair Routledge, in a recent interview with another online news agency, submitted that contract bundling can be very useful. ““Yes, some people have criticised bundling, but it actually serves a very useful function in cascading opportunities through the supply chain whether it’s in running offices, whether it’s providing logistic services or whatever it may be, it is normal practice around the world to have this normal structure in any industry,” Mr Routledge reasoned. But GCCI and PSC do not agree with Mr Routledge’s line of reasoning, and therefore want contracts not to be bundled.

 

Finance Minister tours Schlumberger’s local facilities at Houston: Guyana Times  

…meets with Guyanese, foreign workers

Finance Minister Dr Ashni Singh was on Thursday given a tour of the facilities of Schlumberger Guyana Incorporated at Houston, East Bank Demerara where the major service provider to ExxonMobil houses its main operations. The minister was led on the tour by Managing Director Ernesto Cuadro and GeoUnit HSE (Health, Safety and Environment) Manager Yuri Mozhaev. He was also briefed on the company’s operations and interacted with several Guyanese and foreign employees While there as well, Dr Singh learned of the educational and employment journey of several Guyanese prior to landing a job at the international Company.

 

President Ali outlines government’s development agenda – News Room Guyana

 

President: Oil, gas boom will ensure Guyana’s future

 

Ali defends local content law in T&T: Stabroek News  

-says working on ease of doing business

President Irfaan Ali yesterday defended Guyana’s local content laws in Port of Spain and told the Trinidadian press that companies out of the Twin-Island Republic account for the largest number of regional investors in this country. He made the statement while responding to questions about the ease of doing business in Guyana as well as the number of Trinidadian investors in Guyana. “I do not seek to quantify individual investors from any country. 

 

Govt leaning towards small refinery against bigger operations – VP Jagdeo

 

Only Western technologies will be used for gas-to-shore power plant – Demerara Waves Online News- Guyana

 

Guyanese to benefit from cheaper energy soon – Department of Public Information, Guyana

 

Guyana, T&T advance plans on regional energy security | OilNOW

 

Guyanese should have a chance to participate in oil blocks auction – Vice President | OilNOW

 

‘They can’t pay local companies in 90 days; I don’t care who defends that’ – Guyana VP | OilNOW

 

Space remains for China & US but Europe’s aid to Guyana is significant – Ambassador Cantó

 

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