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Oil & Gas

No prequalification process for new Request for Proposals to sell Guyana’s oil

The Guyana government has decided to scrap the prequalification process in a fresh round of request for proposals for a company to sell the country’s crude oil from the Liza Phase One well. The request was published in notices published in the daily newspapers by the Department of Energy of the Ministry of Natural Resources. Minister of Natural Resources , ...

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Guyana puts a “hold” on bidding process for crude lifting

Guyana has put a “hold” on the international bidding process for oil companies to lift and sell its share of crude oil sales from one of ExxonMobil’s several oil fields offshore the north-east coast of South America, Vice President Bharrat Jagdeo announced Friday. He said the now one-week-old administration, which was sworn in five months after a disputed general election, ...

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Guyana pushing ExxonMobil for cheap natural gas-generated electricity, higher pay for Guyanese

The Guyana government plans to open negotiations with United States (US) oil giant ExxonMobil to purchase natural gas to push industrialisation and provide cheap electricity to the nation as well as entrench local content requirements to ensure Guyanese are not paid lower salaries than in other countries, Vice President Bharrat Jagdeo told a news conference on Friday. Claiming that the ...

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Guyana asks Canada for help to review Payara oil field project

Guyana has asked Canada for help in reviewing the Payara oil field project before government approves the development plan to allow for ExxonMobil to issue its Final Investment Decision (FID), President Irfaan Ali said Tuesday. “We are in the process of engaging an international expert to do that review on the work that has been done so far,” he said. ...

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Payara oil field for govt decision by month-end- Natural Resources Minister

The newly-elected Guyana government would be making a decision by month-end on the Payara oil field that could pave the way for ExxonMobil to issue its Final Investment Decision (FID) on moving to the production-development stage, Minister of Natural Resources Vickram Bharrat said. “We are hoping to resolve the Payara issue very soon…I would say by the ending of this ...

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34 companies submit expressions of interest to market Guyana’s crude oil

Thirty-four companies on Tuesday submitted expressions of interest (EOIs) to sell Guyana’s oil exports over a period of 12 months. The EOIs were opened by the National Procurement and Tender Administration Board. Already, the Ministry of the Presidency’s Department of Energy has said the company that wins the bid to market Guyana’s crude will not enjoy an automatic right of ...

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OPINION: Oil futures below zero; meaningless to most Guyanese

By GHK Lall Oil prices, the futures to be precise, went into negative territory for the first time in their volatile stormy history. For many it is like the end of the world. Yet, here are Guyanese lost in the impenetrable hazes of their own little world, who could care less. The bounty bestowed on us is now worth nothing, ...

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Guyana’s oil revenues will decline in short term; ExxonMobil won’t stop production in Guyana

Plummeting demand for oil as a result of the Coronavirus (COVID-19) pandemic and an oil price war are expected to see Guyana earning less than the US$300 million it had expected to rake in annually from the Liza Phase 1 project and force ExxonMobil to push back developing other oil reservoirs, an analyst said. ExxonMobil spokeswoman in Guyana, Janelle Persaud ...

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OPINION: Political dogfight is over (cheap) oil

By GHK Lall We reach for a mirage, we clutch at straws, we sprawl before the world. In my estimation, Guyana’s political junkyard dogfight is all about power. I am unmoving that ascending to power provides the first access to the feverishly desired control and dissipation of that opulent oil ocean out there within this country’s borders. Though those are ...

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OPINION: I call upon President Granger to change course, to lead from the front

by GHK Lall I refer to the caption, “Mottley says, ‘it is clear that there are forces that do not want to see the votes recounted’” (SN March 18). I think all right-thinking Guyana should applaud the Honorable Mia Mottley for stepping forward to share her thoughts and speak her mind. That her message comes across clearly and unambiguously, despite ...

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