Guyana News Updates, September 22, 2022

OIL DORADO? A DREAM OR NIGHTMARE FOR GUYANA.

THURSDAY 29TH SEPTEMBER 18.00 UK

GUYANA HIGH COMMISSION

PALACE COURT BAYSWATER

LONDON W2 

– John Mair – 07785 378156

Overview – OIL DORADO;GUYANA’S BLACK GOLD LAUNCH EVENT SEPTEMBER 29TH (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

Mapping CARICOM’s path towards a sustainable energy future | Loop Caribbean News

https://caribbean.loopnews.com/content/mapping-caricoms-path-towards-sustainable-energy-future

President Ali pushes ‘One Guyana’ initiative, vision for development – Caribbean Life

Guyana launches tender for new agent to sell its crude exports | Reuters

https://www.reuters.com/business/energy/guyana-government-launches-tender-choosing-oil-marketing-agent-2022-09-22/

Guyana advocates at UN for increased carbon credits prices on global market: Guyana Times 

…as President Ali urges world not to shut out new oil producers from affordable financing

One of 18 leaders to address the 6th plenary meeting of the United Nations General Assembly (UNGA) on Wednesday afternoon was President Dr Irfaan Ali, who used the opportunity to advocate for increased prices for carbon credits on the global market, and for continued access to affordable financing for new entrants to oil production. According to President Ali, financing for climate adaptation and mitigation are still lagging.

As Russia deliveries dwindle Germany has looked to Guyana, other locations for rare imports: OilNOW

As oil and gas deliveries from Russia dwindle in wake of the war in Ukraine, Germany, Europe’s biggest oil consumer, has been scrambling to find new sources of energy which has seen rare imports in recent months from countries such as Guyana. In addition to boosting seaborne crude imports from existing suppliers Norway and the US, German refiners have turned to crudes from Canada, Algeria, Saudi Arabia, Cameroon and Libya in recent months as supplies of piped medium sour Russian oil dwindle, according to vessel analytics provider Kpler.

Guyana local content regulator mulling guidelines to end ‘fronting’ in joint ventures: OilNOW

The Local Content Secretariat (LCS) is seeking to draft guidelines that will signal clearly, how joint venture partnerships will be deemed genuine. Noting this recently was the President of the Georgetown Chamber of Commerce and Industry (GCCI), Timothy Tucker. Director of the Local Content Secretariat, Martin Pertab, confirmed that the agency is examining the issue closely. He indicated that the Secretariat is examining its options and the legal implications.

Though Guyana has long way to go, Jagdeo satisfied with progress on oil sector governance: OilNOW

Guyana’s Vice President Dr. Bharrat Jagdeo says the country has improvements to make in its natural resource governance structure, but that he is generally satisfied with the efforts made thus far by the government. Jagdeo, who is the government’s chief policymaker on oil and gas matters, said government recognises the need for a steep learning curve. Government is also cognisant that “there are a number of policy-making issues that will haunt us until we have a settled regime,” Dr. Jagdeo said. “Because we are new to this business.”

Review and Analysis of the Mid-Year 2022 Economic Performance: Is the paradoxical Dutch disease present? (Part 3): Guyana Chronicle

IMPACT OF COST-OF-LIVING MEASURES AND INTERVENTIONS BY THE GOVERNMENT

USING conservative estimates in an attempt to quantify the impact of the cost of living (COL) measures and interventions by the Government on the economy, cumulatively for the period 2021 – 2022, these altogether amounted to approximately $226 billion, representing 96 per cent of the total NRF balance as of July 2022 from the inception of production. In other words, the estimated COL measures implemented by the Government so far is equivalent to almost all of the revenues Guyana earned in profit oil and royalties from 2020 to HY 2022.

EPA’s poor response to oil spill exposes Guyana’s unpreparedness – former Executive DirectorKaieteur News

Almost two weeks after American oil major, ExxonMobil reported a ‘one barrel’ spill at the Liza Two operation in the Stabroek Block, the Environmental Protection Agency (EPA) has not come out to tell the nation whether its investigation has confirmed the minor spillage as reported by the company. To this end, the former EPA head, Dr. Vincent Adams says this occurrence shows how grossly underprepared Guyana is for petroleum production even as it embarks on an ambitious campaign to speed up these operations.

President Ali must decide on meeting with Opposition to clean Voters List – AG NandlallKaieteur News

President Irfaan Ali will be the one to determine whether the Government meets with the Parliamentary Opposition to decide on mechanisms needed to address the ‘bloated’ voters list says Attorney General and Minister of Legal Affairs, Anil Nandlall. President Ali is currently in New York attending the 77th United Nations General Assembly (UNGA) underway in the US Capital. The A Partnership for National Unity (APNU) and the Alliance for Change (AFC) have both registered an interest in meeting with Government to find a way to clean the ‘bloated voters’ list ahead of any election.

Alexander knocks ‘corrupt process’ to appoint new GECOM ACEOKaieteur News

The Guyana Elections Commission (GECOM) at its Statutory meeting held on Tuesday appointed Mrs. Beverley Critchlow as Assistant Chief Election Officer (ACEO) – a decision dubbed as contrived by Opposition nominated Commissioner, Vincent Alexander. In a Press Statement GECOM said Critchlow’s appointment emanated from a transparent process that involved all of the members of the Commission- one in which all Commissioners were availed of the opportunity to interview all of the shortlisted candidates and, thereafter, indicate their respective choice to fill the position.

Maersk Drilling awarded one-well extension for Suriname campaign: OilNOW

TotalEnergies E&P Suriname, Suriname Branch has exercised an option to add the drilling of one additional well in Block 58 offshore Suriname to the work scope of the drillship Maersk Valiant. The contract extension is expected to commence in January 2023, in direct continuation of the rig’s current work scope, with an estimated duration of 100 days. 180 million barrels of oil in place at new Suriname well, APA confirms

Venezuela border controversy: Guyana will not be swayed from ICJ resolution – Ali tells world leaders

President Ali reaffirms commitment to judicial settlement in Guyana-Venezuela border controversy – News Room Guyana

MoU signed for landmark Nigeria-Morocco gas pipeline set to cross 13 African countries: OilNOW

The Nigeria-Morocco Gas Pipeline (NMGP) has “taken off”, the Nigerian National Petroleum Company (NNPC) said last week. A memorandum of understanding (MoU) was signed between NNPC, Morocco’s National Office for Hydrocarbons & Mines (ONHYM), and the Economic Community of West African States (ECOWAS), in the Moroccan capital of Rabat on September 15.

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