Guyana News Updates, October 19, 2023

US Department of Commerce Caribbean Trade Mission & Conference

October 23-28, 2022

Miami and various Caribbean markets

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

 

Caribbean Investment Forum launched with focus on building resilience and boosting investment in the region | Caribbean Export

https://carib-export.com/news/caribbean-investment-forum-launched-with-focus-on-building-resilience-and-boosting-investment-in-the-region/?utm_source=Caribbean+Export+List&utm_campaign=8e7ac5b737-EMAIL_CAMPAIGN_cedigest_sep_2022&utm_medium=email&utm_term=0_9e96a5189f-8e7ac5b737-52236001

 

 

 

Where is the next big boom going to be? | The Global Observer | Opinion | EL PAÍS English Edition

https://english.elpais.com/opinion/the-global-observer/2022-10-19/where-is-the-next-big-boom-going-to-be.html

 

Sam Hinds: Guyana’s GDP to double by 2027 thanks to offshore oil boom | Washington Diplomat

 

News Room: As Guyana prepares to auction its remaining oil blocks this year, President Dr. Irfaan Ali announced that some of those blocks will be set aside for government-to-government partnerships in the future. At a press conference at the British High Commissioner’s residence in Georgetown on Tuesday, the Head of State revealed that a new policy mix vis-à-vis Guyana’s oil and gas resources is being pursued.

 

Some Guyana offshore blocks reserved for government-to-government partnerships – Ali: OilNOW

President of Guyana Dr. Mohamed Irfaan Ali said Tuesday that some of the country’s offshore oil blocks have been set aside for state partnerships. “We’re going to move to the auctioning of some blocks, and we have some blocks that are set aside for what is termed government-to-government partnership. And we’re looking at all our strategic partners with these blocks,” Ali said. The President made the comment during a joint press conference with the British High Commissioner to Guyana, Jane Miller.

 

Ramps Logistics takes Govt. to court over denial of local content certificate: Kaieteur News

Ramps Logistics (Guyana) Inc has filed a lawsuit against the Government of Guyana over its refusal to grant the company a certificate of registration under the Local Content Act. The company, which is originally from Trinidad and Tobago but is registered under Guyana’s Companies Act was earlier this year, denied a local content certificate for purportedly not being “Guyanese enough.” Last June, the contentions surfaced over the manner in which foreign companies are now using Guyanese nationals to fulfill their local content requirement for the company to be 51 percent locally owned.

 

Ramps Guyana subsidiary talks up achievements ahead of court hearing for Local Content Certificate: OilNOW

El Dorado Offshore (EDO), a subsidiary of Ramps Logistics Guyana Inc, proudly informed industry stakeholders in a press release that it has created more than 400 job opportunities for citizens. The affiliate company sees this as a noteworthy feat considering that it started out with a mere five employees after setting up shop at its Georgetown office in 2017. The announcement by the firm comes just a few days before its parent company goes head-to-head with regulators in a judicial review over the denial of a Local Content Certificate.

   

Chris Ram projects himself as one who has a monopolistic authority on oil and gas and financial matters: Guyana Chronicle (Letter to the Editor) by Joel Bhangwandin

REFERENCE is made to Christopher Ram’s letter to the Editor of Stabroek News dated October 12, 2022, and part one of my response thereto published in the Stabroek News and the Guyana Chronicle editions of October 15, 2022. As I have demonstrated in my first response which was not carried in its entirety by Stabroek News, Christopher Ram sought to discredit my professional and academic credentials cleverly and mischievously, but failed miserably. Christopher Ram forgot completely that he had already validated my credentials six years ago when he interviewed me for the CEO position of NICIL.

 

Comprehensive forecast analysis of Stabroek block was done to inform my opinions: Stabroek News (Letter to the Editor) by Joel Bhangwandin

Reference is made to Christopher Ram’s letter to the Editor of Stabroek News dated October 12, 2022, and part one of my response thereto published in the Stabroek News and the Guyana Chronicle editions of October 15, 2022. In my response to Nigel Hinds, Chris Ram confirmed that indeed the information Hinds requested of the Senior Minister with responsibility for Finance, Dr. Ashni Singh, is publicly available. He cited the specific source for questions one and six posed by Nigel Hinds, but he then asked of the undersigned to point him to the source where he can find the others.

  

Govt. engages 100 caterers to form consortium to service oil ships: Kaieteur News

Following up on President Irfaan Ali’s proposal to form a local consortium to provide meals to offshore vessels servicing the country’s burgeoning oil and gas sector, the Ministry of Natural Resources has already engaged approximately 100 caterers. The ministry announced yesterday that the initial step has been taken toward the formation of the consortium to allow local chefs to maximise on their skills. Minister of Natural Resources, Vickram Bharrat on Tuesday met with the group along with a team of technical officers from his Ministry, the Local Content Secretariat, and the Guyana Office for Investment (Go-Invest).

  

Coalition banking on renewable energy options to lower power costs: Kaieteur News

…maintains new feasibility study must determine investments for gas project

The A Partnership for National Unity + Alliance For Change (APNU+AFC) Coalition is not opposed to the use of gas for power generation but maintains that detailed studies must chart the way forward to determine its viability to lower the cost of power generation. In the meantime, Opposition Leader, Mr. Aubrey Norton has stated that the top considerations for his party at this time remains renewable options, as recent studies prove this option to be cheaper.

 

US$1B in oil fund: Kaieteur News (Editorial)

Guyanese are rich beyond belief.  That, however, is not the lot of ordinary Guyanese who know only the same old poverty.  The struggling family that has to do without some basics, and the many expectant citizens of this country, who hear that they are so wealthy on paper, don’t know of that richness.  They are yet to touch and feel this great national oil wealth actually moving from the books and paper down to their level. There is no doubt these days that we have oil in abundance, and the monies to prove that it is here.

  

Two companies contracted to work on One Guyana FPSO: Stabroek News  

Qingdao McDermott Wuchuan and Dyna-Mac have been contracted to work on the One Guyana FPSO vessel for ExxonMobil’s Yellowtail development in Guyana. The One Guyana builds on the design experience of the Liza Destiny, Liza Unity and Prosperity FPSOs. It will be designed to produce approximately 250,000 barrels of oil per day and will have associated gas treatment capacity of 450 million cubic feet per day, and water injection capacity of 300,000 barrels per day. It will be spread moored in water depth of about 1,800 meters and will be able to store around 2 million barrels of crude oil.

 

Opposition says gas to shore project ‘not viable’: Stabroek News  

…says APNU+AFC in possession of studies to support its contention

The Opposition APNU+AFC is contending that the gas-to-shore project, slated for Wales, West Bank Demerara is not viable,  adding that it is in possession of studies to support its contention. The claim was made yesterday at a press conference by Leader of the Opposition Aubrey Norton and his economic advisor Elson Low. However, Norton declined to share specifics of the study or say what they found to lead them to the conclusion that the project is not viable.

 

What may the next decade of US-Caribbean energy cooperation bring? – Atlantic Council

https://www.atlanticcouncil.org/event/what-may-the-next-decade-of-us-caribbean-energy-cooperation-bring-2/

 

T&T, GUYANA & SURINAME PART OF GLOBAL ENERGY | 7pmnews | tv6tnt.com

https://www.tv6tnt.com/news/7pmnews/t-t-guyana-suriname-part-of-global-energy/article_c0698b10-5019-11ed-a81e-fb30ce4d340c.html

 

PSC, GOGEC, other business bodies happy with renewed Guyana/UK trade prospects – News Room Guyana

 

Beyond local issuing of Schengen visas, Guyana aggressively pursuing visa-free EU travels – News Room Guyana

 

UK trade with Guyana increased by 17% in past year – Ali – Guyana Times

 

Guyana to seek financing from the UK for major infrastructural projects – Department of Public Information, Guyana

 

Delay in Suriname FID shows TotalEnergies hesitant to fully commit to country – AMI analyst: OilNOW  

When it comes to answering the question of a final investment decision on the TotalEnergies-operated Block 58, Suriname’s wait has been long. And the country will have to wait at least a few months more, until 2023, for the decision. This evident diffidence, according to Americas Market Intelligence (AMI) analyst, Arthur Deakin, reflects Total’s “hesitancy” to fully commit to the country. His opinion was expressed in a recent OilNOW column.

 

Touchstone eyes three onshore blocks in T&T’s current bid round: OilNOW

“It’s probably the best package we have ever seen in Trinidad.” Those were the comments from the Chief Executive Officer (CEO) and President of Trinidad’s Touchstone Exploration, Paul Baay as he signalled the company’s interest in grabbing up at least three blocks in the Twin Island Republic’s current onshore and nearshore bid round. According to T&T’s Energy Chamber, Baay shared that Touchstone was “excited” by the onshore prospects up for the taking.

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