Extractive Industry

Reproduced from Bloomberg Tullow Oil Plc fell the most in two decades in London trading after saying it’s reassessing the commercial viability of discoveries in Guyana. The stock sank as much as 23% on the news that crude from two wells in the South American country was found to be heavy, with a high sulfur content. That’s disappointing to shareholders ...

Under apparent pressure by hundreds of workers angered at being temporarily laid off and paid half of their salaries, Senior Labour Minister Amna Ally has intervened and withdrawn a letter by her Junior, Keith Scott, that had instructed Troy Resources Limited to cease all operations because of safety concerns uncovered by an inspector at two additional gold mining pits. “I, ...

Veolia Water Technologies, through its subsidiary VWS Westgarth Ltd, says it has been awarded a multi-million dollar contract by SBM Offshore for the supply of a seawater treatment package for the Liza Unity FPSO, located in the Stabroek block offshore Guyana. The award is for the design and procurement of equipment with construction technical assistance for a seawater treatment plant ...

by GHK Lall The Demerara Waves Online News article dated October 9 titled, “Bank of Guyana probe uncovering reasons for US notes shortage at cambios” covered a lot of territory. In many respects, it has been fiercely contested territory. The focus and thrust of the Demerara Waves item were on the role of nonbank cambios in the ongoing foreign currency ...

A man died early Tuesday morning in an accident at an Australia-owned Troy Resources Guyana Inc gold mining pit, Minister of Natural Resources, Raphael Trotman said. Sources identify the dead man as Ryan Taylor. He worked in the geology section of Troy Resources. The company said early indications are that the incident occurred at 2:25 am on the night shift ...

The United Kingdom-headquartered Tullow Oil, which has discovered oil twice offshore Guyana, says it is already advancing plans to set up a shore base here. Tullow’s Head of Communications, George Cazenove says the shore base will be established in another two to three months. “We will have a shore base here…. You will see a greater presence,” he told News-Talk ...

Nalco Champion Guyana, Inc. on Monday reinforced its commitment to Guyana and continuing with its long-term plans of establishing a product storage facility in the country.  Last week, Nalco Champion received an Interim Environmental Authorization from the Environmental Protection Agency (EPA) to begin operations at the John Fernandes Ltd. Main Terminal on Water Street. However, the interim authorization came with ...

The Executive Director of Guyana’s Environmental Protection Agency (EPA), Dr. Vincent Adams on Monday cited the need for unannounced visits to oil industry operations, even as American and British oil companies discovered more oil offshore the northeast coast of the South American nation. “Unfettered access to the site: There should be no prevention or stiff-arming of government employees or people ...

The Liza Destiny, Guyana’s ‘First Oil’ production vessel has arrived in the Stabroek Block after traveling nearly 11 thousand nautical miles from the Keppel Shipyard in Singapore, ExxonMobil announced Thursday. The floating production storage and offloading (FPSO) vessel journeyed for 42 days, after a June commissioning ceremony at which First Lady, Sandra Granger renamed it “Godmother”. After clearing customs, the ...

Hess Corporation, a partner with ExxonMobil Guyana, on Wednesday upped the amount of hydrocarbon discovered offshore this northeastern South American country to 6 billion barrels of oil equivalent (BOE). “In Guyana, we have just increased the estimate of gross discovered recoverable resources for the Stabroek Block to more than 6 billion barrels of oil equivalent and continue to see multi-billion ...