Guyana News Updates, September 14, 2022

OIL DORADO: GUYANA’S BLACK GOLD GUYANA LAUNCH 

THURSDAY, SEPTEMBER 15, 2022 – 16.00 GUYANA MEAN TIME

THE GEORGETOWN CLUB

CAMP STREET, GEORGETOWN 

GUYANA

Contact: John Mair – johnmair100@hotmail.com

07785 378156

www.universe.com

Guyana Basins Summit

October 4-6, 2022

http://guyanabasinsummit.com/en

US Department of Commerce Caribbean Trade Mission & Conference

October 23-28, 2022

https://www.trade.gov/caribbean-trade-mission

VP Harris to meet Caribbean leaders on new U.S. partnership | Miami Herald

https://www.miamiherald.com/news/nation-world/world/americas/article265803886.html

President off to US to meet with VP Harris and attend UN General Assembly – News Room Guyana

Tariq Alli appointed new IDB Caribbean General Manager – Guyana Chronicle

Linking Guyana’s economy with STEM education | OilNOW

Remaining oil blocks to be auctioned by month end: Guyana Chronicle  

— new model PSA being developed, says VP Jagdeo

Vice-President, Dr. Bharrat Jagdeo, on Tuesday, said that the auction for the remaining oil blocks will be launched by the end of September and the process is expected to conclude in early 2023. He made the announcement during a special edition of the Glenn Lall Show, during which he also noted that the government is working on a model for future Production Sharing Agreement (PSA). “We have to now have a new PSA to tell people what they’re going to get if they come in on this auction,” Dr. Jagdeo said, pointing out that the new PSA will utilise three variables.

New oil and gas support company launched: Guyana Chronicle

INTERTEC INC., a Guyanese-owned company that will be providing offshore solutions to those in the oil and gas sector, was launched on Tuesday at the Marriott Hotel. The company was established in 2020 in Georgetown and its directors have over 30 years of industry experience. Its services include the provision of a wide variety of marine logistics and support projects in both deep water and continental shelf environments. One of the directors, Hannah Vogel London, expressed belief that the launch of the company has created an opportunity for competition.

3 US firms among 5 bidders vying to offer advisory services for Gas-to-Energy project: Kaieteur News

Responding to the Ministry of Natural Resources’ request for proposals (RFP) for advisory services on the upcoming Gas-to-Energy project, three United States (US) firms, a German firm, and a United Kingdom firm have all applied. This was announced during the opening of tenders on Tuesday at the office of the National Procurement and Tender Administration Board (NPTAB). During the reading of the minutes on Tuesday it was revealed that ‘Mayer Brown and Stanhope’, ‘CMS Cameron McKenna Nabarro Olswang, LLP’, ‘Squire Patton Boggs (UK)’ in joint venture with ‘Bayphase Oil and Gas Consultants’,’ Kean Miller, LLP’ and ‘The Callender Law Firm, PLLC’ have all tendered for the Ministry’s project.

About 35% of Stabroek Block barrels committed to Exxon’s first five Guyana projects: OilNOW

With close to 11 billion oil-equivalent barrels discovered in the Stabroek Block offshore Guyana, ExxonMobil is forging ahead with development plans, in keeping with the objective of the government to bring the resources to market in the shortest time possible. Approximately 3.9 billion oil-equivalent barrels (35% of proven reserves) have been committed to developments. The Liza Phase 1 and 2 projects, both already producing, are tapping into approximately 450 million and 600 million barrels of oil respectively.

New solar projects for Guyana as US$83.3M deal signed with IDB: OilNOW

New oil producer Guyana continues to advance steps towards greener energy sources. Senior Finance Minister, Dr. Ashni Singh on Tuesday signed a US$83.3 million agreement with the Inter-American Development Bank (IDB) to fund eight utility-scale photovoltaic solar projects totalling 33 megawatt-peak (MWp). The project is expected to bring affordable and clean energy to over 70,000 households once completed. It falls under the Guyana Utility-Scale Solar Photovoltaic Programme (GUYSOL) which paves the way for investments in such initiatives.

Cheaper electricity closer as gov’t receives five bids for Wales project – News Room Guyana

Is the paradoxical Dutch Disease present? (Part II): Guyana Chronicle by Joel Bhagwandin

ACCORDING to the Mid-Year 2022 economic report, the economy recorded real GDP growth of an estimated 36.4 per cent, driven by the petroleum, other crops, and services sectors. Moreover, despite the setbacks that affected the other sectors, the non-oil economy recorded positive growth for the half- year period of an estimated 8.3 per cent. As such, the Ministry of Finance is confident that with the measures in place to continue increased economic activity, overall GDP growth for 2022 is now forecast to grow by 56 per cent, and non-oil growth by 9.6 per cent.

CIC Insurance Brokers (Guyana) Inc.’s new Finance Director is Gavin Ramsoondar: OilNOW

CIC Insurance Brokers Guyana Inc., a full-service insurance brokerage, which is majority owned and controlled by local conglomerate, ZARC Group of Companies, has appointed Gavin Ramsoondar, a young business professional, to its Board of Directors. Ramsoondar, who will also serve as the company’s Finance Director, is likewise recognised for his roles as the Chief Financial Officer at Guyanese-owned ZARC, and the Treasurer of both the Georgetown Chamber of Commerce and Industry (GCCI) and the Georgetown Cricket Club (GCC).

APNU+AFC accuses GECOM of failing to act on evidence of voter impersonation during 2020 elections: Kaieteur News

The A Partnership for National Unity + Alliance for Change (APNU+AFC) Opposition is accusing the Guyana Elections Commission (GECOM) of failing to act on evidence of voter impersonation during the March 2020 elections. The issue was raised during the weekly Press Conference hosted by the Leader of the Opposition, Aubrey Norton. During the Press Conference, APNU+AFC Shadow Minister of Legal Affairs, Roysdale Forde, SC, read the party’s statement in which he noted the reluctance by GECOM to look into the claims of voter fraud submitted by his party.

Oil money should not be invested into companies associated with petroleum sector – Economist: Kaieteur News

As Guyana’s oil earnings continue to increase – with production rates set to climb to over one million barrels of oil per day by 2027 – Economist, Elson Low has warned that the revenue stream from these earnings should not be invested into companies associated with oil and gas. Low made the assertion during a recent interview with Kaieteur News, following the appointment of the ‘Investment Committee for the Natural Resource Fund (NRF)’.

Ramping up production and environment safety: Kaieteur News (Editorial)

Europe is thirsting for any oil supplies that it can get. The non-oil producing countries of Europe are hungry for oil that they can get from anywhere. Guyana has been doing its part on the quiet, as new reports now indicate in the article titled, ‘Guyana’s oil producers ramp up exports to thirsty European refiners -Reuters report’ (KN September 9). More of local oil that is closely compatible with European refiners are being redirected there, given developments on that continent.

Registry says this crucial Petroleum Agreement document cannot be found: Stabroek News (Letter to the Editor) by Christopher Ram

I was confident enough of the fact of a renegotiation of the 2016 Agreement, that I had announced on my TV Programme Plain Talk that President Granger and Exxon had indeed signed a Deed of Amendment in late 2019 varying the 2016 Petroleum Agreement to make the royalty paid to the Government a non-recoverable expense. Knowing that the Deed required registration and is a public document, our staff paid to the Deeds Registry the required fee and was asked to return three days later.

Quality of life for Trinidadians at risk if no new gas projects come online soon – Rowley: OilNOW

Trinidad and Tobago truly offers a lesson to Guyana on what not to do with its vast oil and gas revenues, as the twin-island Republic struggles to keep its economy afloat with the earnings being garnered each year. Its Prime Minister, Keith Rowley, painted a grim picture at a recent media conference of the country’s reliance on revenues from the energy sector. “Without the earnings from [oil, gas and petrochemicals], our budgetary arrangements would be extremely challenging and dire,” the Prime Minister underscored.

T&T gov’t defends talks with energy producers – NationNews Barbados

https://www.nationnews.com/2022/09/12/tt-govt-defends-talks-energy-producers/

A breakdown of Rowley’s trip
https://trinidadexpress-tto.newsmemory.com/?publink=12c72930d_1348615 

Trinidad presses dual gas supply from Venezuela | OilNOW

USTDA Funds Climate Adaptation in Jamaica – USTDA

CIA focusing on Chinese influence in Guyana – Demerara Waves Online News- Guyana

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