Oil & Gas

The joint venture, United States-based Lindsayca and CH4 Systems out of Puerto Rico, have filed an additional almost US$50 million in claims for soil stabilisation at the Wales, West Bank Demerara site for the natural gas power plant and natural gas liquids plant, a senior official said Friday. Speaking briefly with reporters, LINDCH4 General Manager, Humberto López said there were ...

President Irfaan Ali on Friday vowed that if Guyanese continue to be hit by electricity outages next year, a number of Guyana Power & Light (GPL) managers would be fired. “I’ve made it very clear to the management of GPL that heads will roll…that if we don’t see with these investments marked improvement by the end of the first quarter…then ...

ExxonMobil Guyana is Thursday marking five years of oil production in Guyana on December 19, a significant achievement that underscores the transformative potential of the country’s growing energy sector. Since “first oil” at the offshore Liza Phase 1 project five years ago, the company said Guyana has become the third largest per-capita oil producer in the world. The oil-and-gas sector has ...

Former Finance Minister Winston Jordan on Sunday urged the Guyana government to formally ask ExxonMobil to renegotiate the 2016 Production Sharing Agreement (PSA), even as he accused President Irfaan Ali and Vice President Bharrat Jagdeo of flip-flopping. “I see nothing wrong in writing to Exxon, initiating the process of renegotiating the contract. Until you do that, you do not know ...

Guyana on Thursday said there was no room for negotiations with Canadian co-venturers, Frontera and CGX Energy, over the Corentyne block because the licence has expired. Vice President Bharrat Jagdeo told a press conference that nothing requires government to formally inform the CVs that their licence to the 6,200 square kilometer Corentyne block has expired. He made known government’s position ...

A Guyanese start-up airline, Jet Global Services (Guyana) Inc., has clinched a deal with Bulgaria-headquartered GullivAir and the Switzerland-based LunaJets to offer Guyanese and oil sector workers another option to connect to neighbouring Brazil, the Caribbean and North America. “As Guyana becomes a significant player in the global oil market, the demand for a reliable, affordable international airline has never ...

Opposition-nominated member of the Investment Committee of the Natural Resources Fund (NRF), Dr Terrence Campbell on Sunday said he would be formally asking the Board to explain why transfers of oil revenues to the Consolidated Fund are done without specific information from government about how the monies would be spent. “It’s not off the table,” when asked whether legal action ...

The Alliance For Change (AFC) would be writing the Board of the Natural Resources Fund (NRF) to get answers about government’s failure to say specifically how oil revenues would be spent by the government, party leader Nigel Hughes said Sunday. “The Citizens of Guyana demand to know how their patrimony is being managed and disposed of,” he said. No date ...

A member of the Natural Resources Fund (NRF) Investment Committee believes that government should list how it intends to spend oil revenues before the money can be transferred to the consolidated fund, but Vice President Bharrat Jagdeo on Thursday resisted the idea and said accountability rests with the National Assembly. “What sense does it make?…So next year, should we start ...

The Board of the United States’ Export-Import (EXIM) Bank has approved a just over US$500 million loan for the gas-to-energy project at Wales, West Bank Demerara, with final approval expected at the end of a 30-day notification to the US Congress, Vice President Bharrat Jagdeo said Thursday. Originally, Guyana had applied for US$660 million to help finance the construction of ...