By GHK Lall There was this sharp intensity of hard passions, as I absorbed two news developments from late last week. In view of the harsh, unforgiving tones and postures anyone could easily have mistaken the news reports as being about Guyana and its ugly political squabbles. In those two instances, they were not. For it was about powerful Venezuelan ...
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Venezuelan prosecutors to charge Juan Guaido for high treason over relinquishing Essequibo claim
Reproduced from AFP Venezuelan prosecutors said Friday they would charge opposition leader Juan Guaido with “high treason” for planning to renounce the country’s claim to a disputed border area controlled by Guyana. Guaido, the National Assembly speaker who is recognized as interim president by more than 50 countries, is being investigated for negotiating to renounce “the historical claim our country ...
Read More »Venezuelan rivals cross swords over relinquishing claim of oil-rich Guyana’s Essequibo
Reproduced from Argus Media Venezuela’s rival political authorities are trading accusations of relinquishing the country’s historical claim to a large swath of neighboring Guyana on the eve of ExxonMobil’s launch of offshore production there. Venezuela’s executive vice president Delcy Rodriguez today released what she says is a months-old tape of Vanessa Neumann, the UK envoy of opposition leader Juan Guaido, ...
Read More »First Oil: Liza Destiny arrives in Stabroek Block
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 ...
Read More »OPINION: The “zone of convergence” must widen and encircle; must get real
By GHK Lall It is encouraging to read that the President and Opposition Leader started meeting yesterday (Friday, Aug. 9, 2019) to discuss the way forward. It is the only option: meeting and exploring for finalizing; it is that and nothing else. Nothing else is there, other than the meaningless sounds and postures through public advertisements that do nothing for ...
Read More »New oil equivalent estimate at more than 6 billion barrels in Stabroek Block
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 ...
Read More »City Hall to enforce order to stop construction of petrochemical bond
The Georgetown City Council on Tuesday said it planned to move in on a John Fernandes Limited (JFL) site at Houston Gardens, East Bank Demerara, to enforce a “cease order on the construction of a petrochemical bond by an American company that has been contracted to supply ExxonMobil. Town Clerk, Sharon Harry-Munroe told reporters that despite the issuance of the ...
Read More »Guyana’s plans to raise oil royalties could ‘diminish attractiveness’
Reproduced from Energy Voice By Allister Thomas Guyana’s plans to raise oil and gas royalties may “diminish attractiveness” to future investors, according to new analysis. Earlier this month the South American nation announced its intention to raise the government’s take in future oil licences. Analyst firm GlobalData said the country could raise royalties from the current 2% to 5%, but ...
Read More »First Lady commissions ExxonMobil’s first FPSO for Guyana
First Lady Sandra Granger on Saturday commissioned the ‘Liza Destiny’, the first in a series of Floating Production Storage and Offloading (FPSO) vessels for ExxonMobil Guyana at the Keppel Shipyard in Singapore. The vessel will depart Singapore in July and is expected to arrive in Guyana in September to prepare for the commencement of oil production for the Liza Phase ...
Read More »Guyana flags reduced oil profits under ExxonMobil deal; preparations needed for price shocks IMF
The International Monetary Fund (IMF) has pointed to lingering uncertainty about how much profit oil Guyana will actually rake in, even as that global financial watchdog says it is ready to help the country prepare for oil price shocks. Preliminary findings of a 2019 Article IV official visit show that Guyana is well on its way to achieving 4.4 percent ...
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