Guyana News Updates, September 29, 2022

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

Caribbean Investment Forum

November 8-11, 2022

Trinidad

https://www.caribbeaninvestmentforum.com/?utm_source=Caribbean+Export+List&utm_campaign=856bee512b-EMAIL_CAMPAIGN_2022_09_16_main_flyer&utm_medium=email&utm_term=0_9e96a5189f-856bee512b-52236001

Is the United States dictating Guyana’s foreign policy? – Kaieteur News

https://www.kaieteurnewsonline.com/2022/09/29/is-the-united-states-dictating-guyanas-foreign-policy/

Blumenauer, Plaskett Discuss Caribbean Trade Resolution with CARICOM Nations | Ways and Means Committee – Democrats

https://waysandmeans.house.gov/media-center/press-releases/blumenauer-plaskett-discuss-caribbean-trade-resolution-caricom-nations

Oil revenues could see Guyana public debt-to-GDP ratio plummeting to historic 13.5% – IMF: OilNOW

Though Guyana is poised to produce over 800,000 barrels of oil from its four sanctioned projects, the Government has been prudent in guarding against wild spending and borrowing against the resources to come. And the International Monetary Fund (IMF) was in high praise of the administration for such rigid controls. It said Guyana’s public debt declined almost 10% of its gross domestic product (GDP), reaching 42.9% of GDP at end of 2021, one of the lowest in the region.

Guyana seeks consultant to review development plan for Exxon’s giant Uaru project: OilNOW

The Government of Guyana issued on Wednesday, a request for Expressions of Interests (EOI) from suitable consulting firms to review the Uaru Field Development Plan (FDP) to be prepared by ExxonMobil affiliate and Stabroek Block operator, Esso Exploration and Production Guyana Limited (EEPGL). The Uaru development is targeting approximately 1.319 billion oil-equivalent barrels, making it the largest project offshore Guyana. It will tap into the Uaru, Mako and Snoek fields in the eastern portion of the Stabroek Block.

Liza Unity FPSO oil leak: Assessment team’s report will determine “course of action” – EPA head: Guyana Times  

Almost four weeks after it was announced that the Liza Unity FPSO vessel had experienced an oil leak, the Environmental Protection Agency (EPA) is yet to complete its report on the incident; but according to EPA Executive Director Kemraj Parsram, the team has been able to gather critical information. Parsram told Guyana Times on Wednesday that the assessment team had travelled offshore to where the Liza Unity vessel is pumping oil in the Stabroek Block in order to investigate and conduct interviews onboard that vessel.

‘Oil audits must verify Exxon’s spending’ …Opposition says Guyana must be able to identify shell companies, overspending: Kaieteur News

The tricky business of verifying petroleum expenditures from the Stabroek Block operator remain and the Parliamentary Opposition is keen on examining government’s treatment of this issue. In the absence of several mechanisms to ensure Guyana’s robust oversight of oil and gas production cost, the Parliamentary Opposition says it is eager to see how the government would have been able to confirm not just the numbers, but the way in which these expenses would have been incurred.

10 billion barrels increase in Stabroek Block reserves validates calls for renegotiation- former EPA Head: Kaieteur News

In 2016, when the Coalition government renegotiated and signed the Production Sharing Agreement (PSA) with US oil giant ExxonMobil, the country had only found approximately 1.1 billion barrels of oil in the Stabroek Block. Six years later, over 10 billion more barrels have been discovered in the country’s Exclusive Economic Zone, a major increase that the former Executive Director of the Environmental Protection Agency (EPA), Dr. Vincent Adams believes, validates calls for a renegotiation of the lopsided deal.

Govt. begins hunt for consultant to review ExxonMobil’s plans for fifth project: Kaieteur News

The Guyana Government has commenced its search for a consultant to review the Field Development Plan (FDP) for ExxonMobil’s fifth project at the Uaru oil field in the Stabroek Block. The Ministry of Natural Resources which issued the request for Expressions of Interest said the contract would be funded through the US$20M World Bank (WB) loan for the Guyana Petroleum Resources Governance and Management Project (GPRGMP). It said the money would be used to pay the successful consulting firm to provide advisory services, technical support and training, as well as for capacity strengthening services.

Those taking advantage of Local Content provisions would be those equipped with a sufficiency of resources: Stabroek News (Letter to the Editor) by GHK Lall

All citizens owe a word of thanks to Guyanese-born attorney, Dr. Vivian Williams.  He took the Local Content law that we have and carried it to a place that I, for one, didn’t think about (“Local Content in evil state can inflame tensions fuel, lopsided distribution of wealth -NY Lawyer warns -KN September 28). What Dr. Williams articulated makes for sobering reading. Though said before, I go again: Guyana’s Local Content law is a solid one, a good beginning, with many areas identified on paper for citizens to have their share through participation. 

GECOM yields to APNU+AFC request for more info on absent voters to be sent for verification: Demerara Waves  

Chairman of the Guyana Elections Commission (GECOM) Retired Justice Claudette Singh on Wednesday told Election Commissioners that she has handed over more names of persons who the opposition A Partnership for National Unity+Alliance For Change (APNU+AFC) said were either dead or absent from Guyana on voting day- March 2, 2020. “Please be advised that I have dispatched the documents in respect of the claims made in relation persons who are alleged to have voted on March 2, 2020, being either deceased or out of the jurisdiction, to the Ministry of Home Affairs and the Office of the Commissioner of Police respectively, for the purpose of verification,” she told the Commissioners in a correspondence seen by Demerara Waves Online News.

GECOM reiterates that it is not a court of law: Guyana Chronicle  

THE Guyana Elections Commission (GECOM) has reiterated that allegations of unlawful acts during an election can only be determined by a court of law. The commission in a release noted that recently, there have been numerous public pronouncements calling for GECOM to conduct internal investigations into allegations of electoral fraud that were reported to have occurred during the 2nd March, 2020 General and Regional Elections. These calls have been emanating from Opposition Leader Aubrey Norton and other elements in the political opposition.

IMF commends govt’s transparency, strengthening of anti-corruption framework

Ukraine war affecting local economy but Guyana’s food security not impacted – IMF

Barbados offshore auction delayed to December 2022: OilNOW

Minister of State in Foreign Trade and Business for Barbados, Sandra Husbands, said the government announced that its 2022 offshore licensing round will be launched on December 1, 2022. This represents a delay of one month, after previous information from the Ministry of Energy and Business indicated that the auction would launch on November 1. OilNOW understands that the auction will open 22 offshore blocks for bidding by international oil companies (IOCs).

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