Guyana News Updates, November 11-13, 2022

MEDIA ADVISORY:Transforming Guyana, Episode VI: Guyana’s Role in a world that still needs Oil – Guyana Business Journal Magazine + Caribbean Policy Consortium

Friday, November 11, 2022

Recording Available Here:

Guyana Mental Health & Well-Being Conference 2022

November 15-18, 2022

An Emerging Energy Alliance: Europe, Latin America, and the Caribbean | AS/COA

Tuesday, November 15, 2022

With Hon. Vickram Bharrat M.P. , Minister of Natural Resources, Republic of Guyana

Guyana/Venezuela Border Controversy

ICJ to hear oral submissions on Nov 17, 2022 from both countries

Caribbean Trade Review 2022 Event CWIT

Tuesday, 29th November 2022 @ 6pmAST

Caribbean ESG & Climate Financing Summit

Nov 29-30, 2022 in Trinidad

UWI SRC Lunch Time Chat – US/Caribbean Relations: Private Sector Engagement Paper & Webinar

Thursday, December 1, 2022 @ 1pm-2:30pm AST

Register here. 

Contact: NICHOLLS, Alicia –

Caribbean Energy, Oil & Gas Summit | CEOGS 2022

7-8 December 2022, Trinidad

The World’s Biggest Diasporas – Guyana 36%, Jamaica 28%

Guyana Poised to Post World’s Highest GDP Growth

Guyana Is the Most Exciting Story in the World Oil Market – Bloomberg

Gov’t ‘not comfortable’ with old oil contract but intent on doing better – Pres. Ali – News Room Guyana

ExxonMobil Guyana has invested over GY$3 billion in youth, women development: OilNOW

ExxonMobil Guyana has confirmed that its Corporate Social Responsibility (CSR) expenditure for the period 2015 to 2022 exceeds US$15 million (GUY$3 billion). Most of this investment has focused on transforming the lives of women and youth through comprehensive capacity-building programmes. For women, the company has led key programmes such as WeLead Caribbean which was devised to tackle the lack of business development and training opportunities for women in Regions Two and Three; and the Blue Flame Women’s Group which is focused on upgrades of the existing factory that produces cocoa sticks, coffee and cassava bread in Region One.

First audit on Exxon’s spending in Guyana, expected by year end | Loop Caribbean News

Over 300 registered for City Chamber’s business forum opening today: OilNOW

Striking at the heart of issues impacting business in Guyana, the Georgetown Chamber of Commerce and Industry (GCCI)’s Business Development Forum opens today at 13:00 hrs, at the Pegasus Hotel Corporate Centre. President of the Georgetown Chamber of Commerce and Industry (GCCI), Timothy Tucker told OilNOW that all preparations are in place, with over 300 persons registered to attend. Given the high expected turnout, the GCCI will have a virtual platform in place to allow all registered persons to participate.

US firm picked for negotiations on gas to energy plantStabroek NewsOilNOWNews Room

-President says Guyana will own facilities, international company will operate

Cabinet yesterday issued a no-objection to a US firm being ranked  number one to build a 300 MW power plant fuelled by offshore natural gas – drawing the country closer to a project that will spew climate warming residues and be the most expensive public sector undertaking in Guyana’s history, replete with safety and other risks. President Irfaan Ali made the announcement of the ranking via a video statement on the Office of the President Facebook page.

Guyana to build 300-megawatt power plant that will cut electricity bills in half – CNW Network

Indian company secures US$22M consultancy contract for Wales power plant: Guyana Chronicle

ENGINEERS India Limited (EIL) has secured a US$22 million contract to provide consultancy services for the construction of a 300-megawatt combined-cycle power plant and natural gas liquids (NGL) plant at Wales, West Bank Demerara. India’s Minister of Petroleum and Natural Gas and Minister of Housing and Urban Affairs, Hardeep Singh tweeted on Thursday: “As part of this US$22 million assignment, EIL will provide Consultancy Services for setting up the integrated plant, and managing the engineering, procurement and construction of the project on behalf of the Guyanese government.”

Guyana’s economic climate very promising – US Ambassador – Guyana Times

Capitol News: As part of the transformative and innovative direction of Guyana’s economy, the Centre for Local Business Development and ExxonMobil on Tuesday hosted day one of the Guyana Supplier Forum at the Leonora stadium.

Centre for Local Business Development reposted Exxon Mobil’s wrap-up post on the Supplier Forum 2022. 

MTV News Update – 13:37: Guyana 2022 Supplier Forum concludes


Guyana takes a giant leap towards realising the gas-to-shore energy project.

Cabinet today granted its no-objection to the company selected to the build the plant.

News Room: The Government of Guyana through the Cabinet on Thursday issued its no objection to the construction of the 300 megawatts natural gas-fired power plant as part of the Gas-to-Shore project at Wales, West Bank Demerara. CH4 and Lindsayca, one of five companies that submitted bids in September, 2022 to build the combined cycle power plant and natural gas liquids plant were given the government’s approval, President Dr. Irfaan Ali said on Thursday on a Facebook live.

News Source: Local Content Policy Under Constant Review

OP-ED ‘Commander-in-Chief’ Routledge on ‘right government’: Kaieteur News by GHK Lall

Many times, we think we have heard everything and seen everything.  I have been there, especially when the area that stands before is either the politics of Guyana, or the social environment of Guyana, involving fellow Guyanese.  Things can be so interesting -a carefully chosen word.  There should be keenness in noticing that the first focus is on Guyanese.  Then, the startling came, and it was not from a Guyanese consumed by the regular narrow arc of thinking, but from a foreigner.  A powerful and most influential foreigner, a fellow American, who jumped headlong into the local fray.

Universal cash grant the way to go, affordable: Kaieteur News (Letter to the Editor) by Ronald Bostwick

It is an uncomfortable truth that the ‘haves’ view the ‘have nots’ with a socially conditioned disdain – not a Guyanese thing but a human reality… In fact, the coming online of Yellowtail in 2025 will make Guyana the world’s largest per capita producer (Oil Now, 16 August 2022).Guyana has a National Resources Fund (NRF). The purpose of an NRF, the more generic term being Sovereign Wealth Fund, is to preserve the wealth derived from current exploitation of an exhaustible national resource, by investing in stocks and assets usually abroad, so that by this diversification future generations will yet benefit long after the resource is exhausted.

Centre for Local Business Development posted: Halliburton has released an EOI for Customs Brokerage Services. Deadline for submission is November 24, 2022. #CentreGuyana #GreaterGuyanaInitiative #Halliburton

Centre for Local Business Development posted: Save the Date and RSVP! SBM Offshore Guyana invites local companies to attend one of two Vendor Compliance Sessions they will be having at the Centre for Local Business Development on November 15. During these sessions, you will learn about the compliance requirements to become and SBM vendor. Email to register and reserve your space. #CentreGuyana #GreaterGuyanaInitiative #SBMOffshore #VendorEngagment

Can Guyana Avoid the Oil Curse? By Jerry Haar & Cristina Caus

Ramps Logistics wins judicial hearing for Guyana Local Content Certificate  | OilNOW

Ramps wins court battle for local content certificate – Stabroek News

Guyana prioritising ‘green’ investments amid oil boom – Guyana Chronicle

Consider extending CO2 emissions charge from excess flaring to carbon sequestered in every barrel of oil produced – Stabroek News

An Upstream Carbon Tax at the Wellhead in the Guyana-Suriname Basin | Institute of Commonwealth Studies

President expresses disappointment over lack of action by Private Sector in taking full advantage of business opportunities – Guyana Times

Ali upbraids private sector for not capitalising on new opportunities – Stabroek News

President blazes private sector for failing to readily snatch new opportunities – News Room Guyana

Easier investments with single-window system ready by year end – News Room Guyana

Single window approval for construction permits by year-end – Pres Ali announces – Guyana Times

Banks need to ‘get up off their tush’ and tackle access to finance issues – GCCI Head | OilNOW

PSC Chairman perceives upswing for private companies from oil money – News Room Guyana

As ANSA McAl continues to spread its wings in Guyana… company discloses investment plans in river transport, beverage manufacture – Stabroek News

Jagdeo leads discussions to deepen Guyana/ UAE relations – News Room Guyana

Cyber security agreement signed between Guyana, UAE – Guyana Times

Esequibo, part of the Venezuelan colony, claimed Caracas in Guyana

Jamaica To Benefit From Electric Mobility, Green Hydrogen Programme | RJR News – Jamaican News Online

Barbados-Based Logistics Hubs To Support Caribbean Food Security

Courtesy Manchestertrade Inc.

Guyana News Updates, November 7, 2022

Guyana News Updates from Manchester Trade – November 7, 2022

Transforming Guyana, Episode VI: Guyana’s role in a world that still needs oil

Caribbean Policy Consortium & Guyana Business Journal

Wednesday, November 9, 2022 @ 10:30amEST

Caribbean Investment Forum

November 8-11, 2022 – Trinidad

ExxonMobil Guyana Joins as Event Partner for the GCCI’s Business Development Forum

November 11-12, 2022

Georgetown Chamber of Commerce & Industry

Guyana/Venezuela Border Controversy

ICJ to hear oral submissions on Nov 17, 2022 from both countries

Oil is just a ‘means to an end’ in Guyana’s story – Ali | OilNOW

Guyana’s forests provide massive legroom for development of oil resources – VP Jagdeo | OilNOW

Guyana to play ‘active’ role in climate-change negotiations – Guyana Chronicle

Guyana to get €5M grant from EU to preserve its forest | INews Guyana

Guyana to get €5M to protect rainforest, support indigenous communities – News Room Guyana

Don’t rejoice over new PSA terms yet; wait to see the fine print – Patterson cautions Guyanese: Kaieteur News  

The Alliance For Change (AFC) has not given the new Production Sharing Agreement (PSA) a passing grade just yet, based on the preliminary provisions announced by Vice President Bharrat Jagdeo last Thursday. In fact, the political party believes that the entire deal must be scrutinized in-depth, before Guyanese laud the contract a ‘better deal’ compared to the 2016 ExxonMobil contract.

All future Exxon projects must adhere to new PSA terms: Kaieteur News

…Norton backs AFC, others on the issue

As American oil giant, ExxonMobil continues to reap exponential profits from Guyana’s lucrative Stabroek Block and the lopsided contract it signed with Government in 2016, stakeholders are beginning to challenge the terms the country got and are demanding more wealth from all future projects to be approved by the Government. Leader of the Opposition for instance yesterday in an invited comment told this publication that all addition projects Exxon wants to pursue in the Stabroek Block, must adhere to the new terms announced by Government to rake in more wealth for the country.

Gas to energy project not viable even at present high crude oil prices: Stabroek News (Letter to the Editor) by Fitzroy Fletcher

The Government backers of the Wales Gas to Energy project (WGTE) are promising that it will lower electricity costs by up to 50 per cent. However, all the available data shows that this is not a reasonable expectation. In fact, an analysis of the US$2 billion project shows that even at the presently high world market price of crude oil there would be minimal reduction in GPL’s power generating costs with the project in place.

Potential bidders may negotiate the 27.5% from the new oil blocks if the price per barrel falls below US$50Stabroek News (Letter to the Editor) by Tulsi Dyal Singh, MD.

I wish to offer some of my thoughts on the fiscal criteria being considered for the upcoming auction of oil blocks in offshore Guyana. 1: I like the 10% corporate tax on profits. I am relieved that a transparent corporate tax regimen will be used from here on; and that the operators will be actually paying their taxes. I have previously written that whoever is signing the attestation of tax payment on the Stabroek block might ask for a letter ruling from the United States IRS validating the procedure.

Transforming Guyana, Episode VI, Guyana’s role in a world that still needs oil: Domestic and regional energy security and the USA CESI

Featured Post

The Guyana Business Journal (GBJ) Caribbean Policy Consortium(CPC) invite you to Episode VI of Transforming Guyana on Wednesday, November 09, 2022, at 10:30 AM EST. 

Panelists:  Roger Kranenburg, Vice President, Energy Strategy and Policy, Eversource; Anthony Bryan, Senior Fellow , Institute of International Relations UWI, St.; Augustine, Trinidad and Tobago; Dax Driver, CEO & President, Energy Chamber of Trinidad & Tobago; Lorraine Sobers, Lecturer, Department of Chemical Engineering Petroleum Studies Unit, University of the West Indies; and Bobby Gossai, Jr., Senior Petroleum Coordinator, Petroleum Management Programme, Ministry of Natural Resources, Guyana

Moderators: Dr. David Lewis and Dr. Terrence Blackman.

The Webinar will be live-streamed on the Guyana Business Journal Youtube Channel.

THE GUYANA BUSINESS JOURNAL & THE CARIBBEAN POLICY CONSORTIUM are dedicated to exploring and understanding the Guyanese and Caribbean economy’s key issues and developing concrete policy proposals to support the region’s socio-economic and political development.


Terrence Blackman, GBJ,

David Lewis, CPC,

Guyana News Updates, October 31, 2022

GA-CPC Webinar: Caribbean Energy Security

Thursday, November 3, 2022 @ 10amET

Join Global Americans (GA – and the Caribbean Policy Consortium (CPC – for a jointly-hosted webinar to hear from regional experts on the state of energy security. GA and CPC fellow Scott MacDonald moderates the discussion.

Click here to register for the event.

Caribbean Investment Forum

November 8-11, 2022 – Trinidad

Guyana/Venezuela Border Controversy: ICJ to hear oral submissions on Nov 17, 2022 from both countries | INews Guyana

U.S trade delegation impressed with investment opportunities in Guyana – News Room Guyana

US$1.4B in trade between Guyana & US in 1st half of 2022 | INews Guyana

Guyana diaspora – Democratic participation and marginalised groups in Guyana – Stabroek News

NY Attorney General to request Biden Administration to probe reports of discrimination and other concerns in Guyana – News Source Guyana

New York Attorney General to rally support to lobby Biden administration about Guyanese concerns – Demerara Waves Online News- Guyana

Democracy in Guyana is strong and strengthening – Stabroek News

Attempts to rig 2020 elections: CoI begins this week, witnesses asked to come forward, testify – Guyana Times

CCJ has been a blessing to Guyana – AG – Guyana Times

Guyana to hold local government elections March 2023 – CNW Network

Lists for local gov’t polls have to be submitted on December 12th – Stabroek News

Guyana is a world-class manufacturing hub in the making – Energy Analyst: OilNOW

When its Gas-to-Energy project comes on stream in 2024, Guyana is expected to break the spell of high electricity rates that has suppressed its development for decades. This major initiative will also be working in perfect synchrony with three Stabroek Block developments set to produce nearly 600,000 barrels of oil per day. Dr. Lorraine Sobers, a Fulbright Scholar currently lecturing at the University of the West Indies, St. Augustine campus, says the foregoing status quo will unequivocally create the perfect ecosystem for the birth of a world-class manufacturing industry in Guyana.

Guyana Prepares for Offshore Licensing Round

Hess’ net production of oil to increase to 110,000 barrels per day this quarter: Guyana Times  

…9 cargoes of crude oil also expected to be sold from Stabroek Block

Guyana is expected to produce a net figure of 110,000 barrels of oil per day in the fourth quarter of the year, continuing the upward trend of oil production that will also result in nine cargoes of crude oil being sold in that period. This is according to Hess Corporation in its 2022 third quarter report. In it, Hess reported that net production from the Liza Destiny and Liza Unity Floating Production Storage and Offloading (FPSOs) vessels was 98,000 barrels of oil per day in the third quarter of 2022.

Exxon targeting more wells in its biggest year for discoveries offshore Guyana: OilNOW

Following the announcement last week of two more discoveries at Sailfin-1 and Yarrow-1 in the ExxonMobil-operated Stabroek Block, the hunt for more high-quality oil resources is now set to continue at the Fish-1 and Lancetfish-1 prospects offshore the South American country. With nine Guyana discoveries so far, 2022 marks best exploration year for Stabroek co-venturers. Hess Corporation, which holds a 30% working interest in the Stabroek Block, said the Fish-1 exploration well is located approximately 62 miles northwest of Liza-1.

Guyana production of nearly 360,000 barrels of oil exceeds design capacity – Exxon’s 3Q report: Guyana Times  

– as EEPGL 5-year local content master plan approved by Govt

Oil giant ExxonMobil has posted its third quarter results for 2022, which come up to US$19.7 billion, and has attributed increased production from its operations in Guyana, which have grown to 360,000 barrels and in excess of design capacity, as one of the factors in its massive earnings. According to the company in its third quarter earnings report, higher volumes of oil from its assets in Guyana and the Permian were among the factors that contributed to its earnings.

Payara project 88% complete, Yellowtail hull to arrive in Singapore early 2023: OilNOW 

Development work for two large ExxonMobil-led Guyana projects – Payara and Yellowtail – are progressing. Hess Corporation, a 30% stakeholder in the Stabroek Block where both projects will be operationalized, provided an update this week. The projects will add nearly half a million barrels of oil per day (bpd) when they achieve first oil in 2023 and 2025.

ExxonMobil records highest ever Q3 net income of US$20b: Stabroek News

Guyana continues to be a pivotal part of ExxonMobil’s portfolio as one of its high-return assets and the company yesterday announced net income for the third quarter of US$20 billion, the highest in its history. “We feel pretty good about the production growth that we’re seeing across the portfolio. We’ve talked about the record production in the Permian and Guyana is obviously performing very, very well with both of those boats  (platforms) running at above capacity,” ExxonMobil’s Chairman Darren Woods yesterday reported during the company’s third quarter earnings call.

Gov’t approves five-year local content plan for Exxon’s subsidiary: Stabroek NewsKaieteur News   

The Ministry of Natural Resources on Wednesday approved the five-year local content plan for Esso Exploration and Production Guyana Limited (EEPGL) which is the operator of the oil rich Stabroek Block offshore. EEPGL is a subsidiary of ExxonMobil.  Speaking at the event on behalf of ExxonMobil Guyana, its President Alistair Routledge said: “The resource we are producing belongs to the people of Guyana and we are committed to ensuring that they benefit from it.

TechnipFMC expects upcoming orders to hit US$9 billion as input from Guyana, other territories ramp up: OilNOW

TechnipFMC, one of the prime contractors for ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), said on Thursday that it recorded US$1.7 billion in revenues for the third quarter of this year. Chair and Chief Executive Officer (CEO), Doug Pferdehirt, commented that the revenue was a “solid achievement” given the volatile nature of the energy market.

Gas-to-Shore Project: US$30M support facility entering final construction stage: Guyana Times  

…Nismes wharf & laydown facility will provide massive opportunities – GAICO

A wharf and lay down facility that is being built in Nismes, Region Three (Essequibo Islands-West Demerara), and will provide crucial support to the construction of the Gas-to-Shore Project, is close to being completed and operationalised. The facility in question is being built by GAICO Construction. GAICO Managing Director Komal Singh, in a statement on social media, noted that they are entering the final stage of the construction of the facility which will cost approximately US$30 million.

Guyanese must stand up, support Wales-based Gas-to-Shore Power Generation Project: Guyana Times (Letter to the Editor) by Sasenarine Singh

After many months, the peaceful Deepavali celebrations allowed me a chance to glance at one of the daily newspapers in detail. At the bottom of the front page of one of the newspapers was the headline, “New UN Report warns against gas-to-energy type projects”. This newspaper article piqued my interest. So I took the time to read the entire UN Report. The UN Report sought to lecture the Latin American countries on what they should and should not do concerning their energy development plan.

Expand Apprentice Schemes: Guyana Times (Editorial)

Towards the end of Dec 2019, four years after its first strike in its Stabroek Field, Exxon announced the start of oil production in our country and three years later we are producing 360,000bpd heading towards 1million bpd. With US$1B in our NRF, we are well on way to being a significant global oil producer. However, rather than preparing Guyanese to participate in the industry and the industrialization and infrastructural development that was sure to follow, the then APNU/AFC coalition government appeared oblivious of the need to retool our educational institutions.

Development of local capacity continues: Guyana Chronicle (Columnist) Oil, gas & you

AS Guyana’s oil-and-gas sector continues to expand, developments such as new shore bases and the relocation of companies from historic oil producers have created both opportunities today, and the potential for transformational economic benefits in the future. Steady growth in the oil-and-gas sector is helping a rising number of local companies participate in the industrialisation of Guyana.

Guyanese must supply 90-100 % of services used by oil companies in 14 categories of work by year end: Kaieteur News

According to Guyana’s Local Content Legislation, there are 40 categories of services in which oil companies must ensure Guyanese participation.  Of that number, there are 14 categories which must see the highest possible participation. The chart below outlines these areas as well as the 90 to 100 percent target that must be achieved by oil companies and their subcontractors. The Local Content Act through the use of targets and other mechanisms aims to prioritize the use of Guyanese nationals and companies in the procurement of goods and services for the enhancement of the value chain of the oil sector.

At least try and renegotiate the lopsided ExxonMobil/Guyana oil contract: Kaieteur News (Letter to the Editor) by Sean Ori

As the discussion continues about the “sanctity of contracts,” I am sure that we can all agree that the ExxonMobil/Guyana oil contract is lopsided. And, as such, it should be renegotiated. At least TRY to renegotiate as oppose to defending this lopsided oil contract. Foreign Direct Investment (FDI) which benefits Guyanese is welcomed. Not so this lopsided exploitative oil contract. I will leave it to others, like OGGN, to explain how we can and why we should renegotiate this lopsided exploitative oil contract.

Guyana completes money laundering, financing terrorism reports ahead of CFATF evaluation – News Room Guyana

Guyana will prioritise efforts to combat financial crimes, money laundering – AG | INews Guyana

Go-Invest CEO: Opportunities abound in agriculture sector – Guyana Chronicle

Billions injected, but tangible results yet to be seen at GuySuCo – Dr Nanda Gopaul – Guyana Times

Finance Minister oversees signing of historic US$4M loan agreement between IDB-Invest/Muneshwers for procurement of Guyana’s first mobile crane – Department of Public Information, Guyana

Muneshwers signs US$4M loan agreement with IDB-Invest for Guyana’s first mobile crane – News Room Guyana

Guyana, India discuss energy cooperation – Stabroek News