Oil & Gas

Prime Minister Moses Nagamootoo Tuesday night condemned a Global Witness report that concludes that the 2016 ExxonMobil deal amounts to a US$55 billion giveaway, instead saying that government fast-tracked negotiations to prevent the company from pulling out due to Venezuela’s claim. Nagamootoo criticised Global Witness’ call for a suspension of oil production to pave the way for renegotiation of the ...

Even as the United Kingdom-headquartered international natural resource anti-corruption watchdog, Global Witness, calls for a renegotiation of the Stabroek Block agreement with ExxonMobil to secure at least a 69 percent equal share of oil revenue, an independent probe has found that ExxonMobil appeared to have withheld vital information about another oil discovery before signing the controversial 2016 agreement. The UK-headquartered ...

Guyana’s environmental watchdog’s capacity-building efforts to monitor its quickly developing oil and gas sector are being stymied by this South American nation government’s inability, due to its caretaker status stemming from the no-confidence motion, to approve funding the agency. The Environmental Protection Agency’s (EPA) Executive Director, Dr Vincent Adams, addressing a Guyana Manufacturers and Services Association (GMSA) business luncheon on ...

Former Foreign Affairs Minister, Carl Greenidge has slammed former presidential advisor on petroleum, Dr Jan Mangal and an international anti-corruption organisation, Global Witness, for plotting against the incumbent coalition ahead of the March 2, 2020, general elections. Greenidge sought to discredit Mangal before thousands of supporters at an election campaign rally held Monday night at Esplanade, New Amsterdam. “The claim ...

by GHK Lall I refer to the article titled, “Steep rise in oil reserve seen as upping pressure for revamping of Exxon deal” (Stabroek News, January 28). As a Guyanese I agree; there can be none-should not be any-who sees things differently. And yet, as I say so, I am prompted to cast a bucket of chilled water on those ...

IRVING, Texas – ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 billion oil-equivalent barrels and made a further oil discovery northeast of the producing Liza field at the Uaru exploration well, the 16th discovery on the Stabroek Block. The new recoverable resource estimate includes 15 discoveries offshore Guyana through year-end 2019. The Uaru discovery ...

By GHK Lall It is not much, but it is worth digesting and cherishing for what it represents, of where it has brought us from, and to where we can be taken. I am cautiously encouraged. I am encouraged by the report card that came, compliments of Transparency International, on what and how Guyana did for last year on its ...

Petroleum industry lawyer, Nigel Hughes has flayed the incumbent David Granger-led administration for not putting much-needed legislation and regulations in place to govern Guyana’s oil and gas sector ahead of production and exportation. He was Tuesday night addressing a symposium organised by the Youth and Oil Association under the theme “Empowering our future, developing our resources, and strengthening policies”. Mr. ...

The first one million barrels of crude oil produced in Guyana is about to leave aboard a tanker for an ExxonMobil refinery where impurities and contaminants will be removed to set a standard for oil being produced from the Liza well located offshore, officials said. “There was also this great, big tanker that tonight (Friday)/tomorrow (Saturday) is going to load ...

The Guyana Defence Force (GDF) is asking for money to buy helicopters and boats to meet the challenges of an oil and gas state, even as President David Granger says the country’s oil-rich maritime zone faces a serious threat. “As the force continues this transformative process, ocean patrol vessels for the coast guard are necessary, helicopters for the air corps ...