Category: Guyana

Guyana energy

Guyana Oil Find Quadruples FDI Flows

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(Jamaica Gleaner, CMC, 8.Aug.2018) – Regional commission ECLAC is reporting that foreign direct investments, FDI, in Guyana increased to US$212 million last year in part as a result of the oil and gas sector preparing for First Oil. The flows nearly quadrupled relative to 2016 when foreign investments in the […]

Noble Tom Madden to Return to Active Status

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(Energy Analytics Institute, Jared Yamin, 2.Aug2018) — Noble Tom Madden will return to active status following contract award. Following the close of the second quarter of 2018, the drillship Noble Tom Madden was awarded a contract for work offshore Guyana, which includes two firm wells, plus three optional wells, announced […]

Granger Gov’t Overwhelmed by Enormity of Tasks

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https://www.stabroeknews.com/2018/opinion/letters/07/31/granger-govt-overwhelmed-by-enormity-of-tasks-in-oil-and-gas-sector/ (Stabroek News, 31.Jul.2018) – Dear Editor, The discovery of oil by ExxonMobil in 2015 has put Guyana on a trajectory to receiving significant revenues. A recent Bloomberg article pointed out that of the 10 wells that ExxonMobil has drilled, 8 are commercially viable – with an estimated 4 billion […]

Guyana’s ‘Astonishing’ Future

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(Trinidad Express, David Renwick, 31.Jul.2018) – The US’s leading oil company, ExxonMobil, continues to make discovery after discovery in its Stabroek block offshore Guyana, the latest being Longtail 1 – its eighth so far. The company says this “creates the potential for additional resource development in the south east area […]

Guyana: Will its Oil Boom Benefit the People?

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(Al Jazeera English, 30.Jul.2018) – Oil companies have identified massive offshore reserves in Guyana, one of South America’s poorest nations. New estimates last week report that more than 4 billion barrels of oil could be extracted from a region known as the Stabroek block, where ExxonMobil expects to start pumping […]

Guyana’s Oil Reserves Are Larger Than Expected

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(OilPrice.com, Julianne Geiger, 23.Jul.2018) – Guyana’s recoverable offshore oil reserves are larger than expected—by almost a billion barrels, Hess Corp CEO John Hess said in a Monday press release. Gross discovered recoverable resources for Hess’s Stabroek Block has been revised upward to 4 million barrels of oil equivalent—up from the […]

Guyanese Tanker Workers Undergo Safety Training

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(Stabroek News, 18.Jul.2018) – Approximately 35 Guyanese Pritchard-Gordon Tankers (PGT) workers were educated on safety practices as Shell partnered with the company to host a one-day workshop yesterday. The workshop was hosted at the Pegasus Hotel, where the workers were taken through the rounds by PGT’s Nick Griffith. “My main […]

FDI in LAC Region Falls for Third Straight Year

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(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) – Foreign Direct Investment (FDI) in Latin America and the Caribbean fell for a third straight year in 2017, reported the Economic Commission for Latin America and the Caribbean or CEPAL by its Spanish acronym. The details were revealed in CEPAL’s annual report titled […]

Stock to Watch: ExxonMobil in Guyana

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(OilPrice.com, Meredith Taylor, 10.Jul.2018) – American energy dominance is on the rise. In March 2018, the U.S. beat its all-time record and pumped more than 10.4 million barrels per day (bpd). Energy stocks are way up on strong forecasts of future demand. Mentioned in today’s commentary includes: Exxon-Mobil Corp. (NYSE:XOM), […]

ExxonMobil says Not Funding Political Party in Guyana

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(Stabroek News, Marcelle Thomas, 8.Jul.2018) – Facing questions from a parliamentary committee, ExxonMobil yesterday denied that it was funding any political party or political initiatives in Guyana. A meeting between the Parliamentary Sectoral Committee on Natural Resources and the US oil giant became testy when allegations of possible funding of […]

Guyana Pre-2020 Investment Boom

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(Energy Analytics Institute, Piero Stewart, 6.Jul.2018) – Oil production will begin in 2020, and the boom in investment beforehand will continue to drive activity, writes Caribbean Economist Marla Dukharan in her “Caribbean Monthly Economic Report.” Guyana, located in the northeastern region of South America, is readying for an oil boom […]

National Oil Co for Guyana Would Be Disaster

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(Stabroek News, 3.Jun.2018) – The creation of a National Oil Company (NOC) will be “a disaster” for this country warns former Government Advisor on Petroleum, Dr. Jan Mangal who says that Guyana should learn from the experiences of sister Caribbean countries, Trinidad and Tobago and Jamaica. However, the government says […]

ExxonMobil, Partners Spent $24 Mln in Guyana

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(Energy Analytics Institute, Piero Stewart, 22.Jun.2018) – US-based ExxonMobil Corporation and partners continue to invest in small-to-medium sized enterprises in Guyana. Irving, Texas-based ExxonMobil and project partners spent $24 million with more than 300 local suppliers in 2017 and opened the Centre for Local Business Development in the capital city […]

ExxonMobil Announces 8th Find Offshore Guyana

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(Energy Analytics Institute, Piero Stewart, 20.Jun.2018) – Irving, Texas-based Exxon Mobil Corporation’s good luck continues in Guyana. The oil giant announced it has made its eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block, Exxon […]

Ramnarine Talks About Southern Caribbean Deepwater Industry

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(Energy Analytics Institute, Ian Silverman, 31.May.2018) – Former Trinidad and Tobago Energy Minister Kevin Ramnarine will speak in Port of Spain about the regional deepwater industry in the Southern Caribbean. An abstract from his technical talk about the regional deepwater industry in the Southern Caribbean, and the case of Guyana, […]

Energy, Education, and Learning Through NRG ED

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(Energy Analytics Institute, Aaron Simonsky, 24.May.2018) – Energy Analytics Institute, formerly LatinPetroleum Inc., continues to promote its “Energy Education Initiative” in the Americas, also known as “NRG ED.” NRG ED is structured to work with K-12 schools, community colleges, four-year colleges and universities, workforce training programs, communities and businesses, and […]

ECLAC Ssays Venezuela’s Economic Activity to Fall 8.5% in 2018

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(Energy Analytics Institute, Aaron Simonsky, 1.May.2018) – The United Nations Economic Commission for Latin America and the Caribbean, also known as ECLAC or CEPAL by its Spanish acronym, projects economic activity in troubled Venezuela will contract 8.5% in 2018. Gross domestic product or (GDP) estimates for other important countries and […]

Hess Acquires Interest in New Acreage Offshore Guyana

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(World Oil, 30.Apr.2018) – Hess Corporation has announced that its subsidiary, Hess Guyana (Block B) Exploration Limited, had reached agreement with Esso Exploration and Production Guyana Limited (ExxonMobil) to acquire a 15% participating interest in the Kaieteur Block, offshore Guyana. The Cooperative Republic of Guyana has provided Hess and ExxonMobil […]

Guyana: The Oil Contract Debate

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(By Lakhram Bhagirat and Leyland M. Lucas, Stabroek News, 23.Mar.2018) – In the late 1990s, Guyana signed an Oil and Gas exploration agreement with Exxon’s subsidiary, EEPGL. That agreement not only permitted significant activity by Exxon, but also provided Guyana with a small subsumed royalty of no more than 1%. […]

Guyana’s Coast Gets Battered By Waves

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(Energy Analytics Institute, 10.Oct.2017) — Guyana, the small English-speaking South American country that is set to become the region’s next petro-state, sit below sea level and is thus subject to coastal flooding, as seen in this short video. __________ By Ian Silverman. © Energy Analytics Institute (EAI). All Rights Reserved.