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Natural Resources

Guyana eyes becoming major regional natural gas supplier

Guyana plans to export its excess natural gas to Brazil and several Caribbean countries and eventually fuel a bauxite smelter and gold refinery,  President Irfaan Ali announced on Monday. “Based on pure interest by investors, we are already seeing the second phase of gas coming in will already have to support a second power plant,” he told the government-backed Guyana ...

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Patterson continues to deal with oil and gas

Opposition Leader Aubrey Norton said Alliance For Change’s (AFC) David Patterson would continue be the opposition coalition’s spokesman on oil and gas. Mr Norton on Thursday told a news conference that Mr Holder, an engineer, would be Shadow Minister of Natural Resources which includes  oil and gas, but Patterson would continue to speak on the subject in the National Assembly. ...

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India to sign MoU with Guyana to buy crude oil for 5 years

India’s Cabinet on Friday approved signing of a 5-year memorandum of understanding with Guyana for cooperation in the hydrocarbon sector including sourcing of crude oil, the Business Standard reported. “The proposed MoU covers the complete value chain of the hydrocarbon sector, including sourcing of crude oil from Guyana, participation of Indian companies in exploration and production (E&P) sector of Guyana, ...

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Oil production begins at Payara; daily output set to peak at 620,000 barrels per day

ExxonMobil started production on Tuesday at Payara, Guyana’s third offshore oil development on the Stabroek Block, bringing total production capacity in Guyana to approximately 620,000 barrels per day. The Prosperity floating, production, storage and offloading (FPSO) vessel is expected to reach initial production of approximately 220,000 barrels per day over the first half of next year as new wells come ...

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Tackling revenue loss high on agenda of Caribbean water conference

The Caribbean Water and Wastewater Association’s (CWWA) conference will later this year  focus on, among other issues, the loss of earnings through leakage, unmetered supplies and theft, association President Marlon Daniels said Friday. “When it comes to Non-Revenue Water, it is really One Caribbean because the challenges that we have in Guyana are existing across the entire Caribbean region,” President ...

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APNU+AFC gov’t, ExxonMobil had no agreement for Guyana to pay for new headquarters -Mahipaul

Opposition A Partnership for National Unity+Alliance For Change (APNU+AFC) parliamentarian Ganesh Mahipaul on Friday said his then governing coalition and ExxonMobil never agreed that the US$160 million that would be spent on building a new headquarters building at Ogle, East Coast Demerara would be recovered from oil revenues. “I’m guided that there were discussions and there was no agreement with ...

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OPINION: COP27 – a crime against humanity, a leadership vice

by GHK Lall I would sum up COP27 in two words. Promises, promises, promises. And dud, dud, dud. Most of those 200 plus should have done the world a favor, and stayed home. Nothing material comes out of these talkfests, so why have them? I give Gaston Browne of Antigua and Barbuda, and Barbados’s Mia Mottley a pass for sheer ...

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US to assess Guyana’s hydropower potential

President Irfaan Ali on Thursday said the United States (US) would be assisting Guyana in jointly assessing its hydro-electricity generation capacity. He told the opening of a Latin America and Caribbean meeting of the International Solar Alliance (ISA) that is one of the outcomes of his recent one-week visit to Washington DC where he held talks with the US Department ...

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ExxonMobil faces increased fine for flaring

The ExxonMobil-led Esso Exploration and Production Guyana Limited (EEPGL) will have to be pay a higher fine of US$50 per tonne of carbon monoxide, up from US$30, if it breaches the flaring rules under its Environmental Protection Agency’s (EPA)-renewed five-year permit for the Liza 1 project in the Stabroek Block.  “The permit also goes further to require the Permit Holder ...

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ExxonMobil makes two more oil discoveries offshore Guyana

IRVING, Texas – ExxonMobil today said it made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located approximately 11 miles (18 kilometers) northwest of the Liza field. ...

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