PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 28.Apr.2025, Words: 389) — Oil-rich Guyana is pondering potential piped natural gas exports to neighboring Trinidad and Tobago, which is short of the energy source. Details were revealed by Guyana’s vice president Bharrat Jagdeo during a press conference in the small South […]
Tag: Bharrat Jagdeo
Guyana not against Exxon acquiring Hess, VP Jagdeo says
GEORGETOWN, GUYANA (Reuters, 28.Feb.2024, Words: 95) — Guyana’s vice president Bharrat Jagdeo on Wednesday said the country will accept whatever is the result from discussions between Exxon Mobil Corp, Chevron Corp and Hess Corp regarding participation in the Stabroek block. Guyana is ready to welcome Chevron into the country, but would also accept […]
Hess and Guyana’s Gov’t Announce REDD+ Carbon Credits
(Hess, 2.Dec.2022) — Hess Corporation (NYSE: HES) and the Government of Guyana today announced an agreement for Hess to purchase high quality carbon credits for a minimum of $750mn between 2022 and 2032 directly from the Government of Guyana. This agreement will serve to support Guyana’s efforts to protect the country’s vast forests and provide capital […]
Exxon Boosts Guyana Oil Output, Undecided on Future Auction Bid
(Reuters, 20.Sep.2022) — Exxon Mobil Corp. is uncertain whether it will bid for new offshore areas Guyana wants to explore, a person close to the matter said, as the oil major ramps up production faster than expected and the South American country wrestles with fixing terms of new oil leases. An Exxon-led consortium discovered oil in the deep waters off Guyana’s coast, launched […]
Vice News Zeroes in on Oil-rich Guyana
(Vice News, 23.Jun.2022) — Allegations of widespread and organized state corruption have always dogged the Indo-dominated People’s Progressive Party (PPP) whenever it is in government in the Caribbean Community headquarter nation of Guyana, but a damning undercover investigation by American media outfit Vice-News appears to have confirmed deeply entrenched fears […]
Guyana Eyes 800,000 B/d of Production by 2025: VP Bharrat Jagdeo Reiterates
(Energy Analytics Institute, 19.Apr.2022) — Guyana is still looking to produce 800,000 barrels per day by 2025, the country’s Vice President Bharrat Jagdeo told Bloomberg News. Brief excerpts from the interview follow: — “[We’re moving from discovery in 2015 to production of 800,000 barrels per day by 2025”: Jagdeo — […]
Guyana Talking to Middle East Firms about Offshore Oil Auction -VP
(Reuters, 17.Feb.2022) — Guyana is in talks with state-run oil firms from the Middle East to discover new offshore fields, Vice President Bharrat Jagdeo told Reuters, hoping to recruit a new and substantial explorer to its nascent energy industry. Results of the talks with Middle East firms could lead Guyana to bar a consortium […]
NRGBriefs: Ecuador Declares Force Majeure On Oil Exports
(Energy Analytics Institute, 13.Dec.2021) — Energy briefs including Ecuador’s gov’t declaring force majeure on 12 Dec. 2021 on oil exports due to erosion issues around the Piedra Fina River and other tributaries of the Quijos River; Argentina celebrating Petroleum Day; TechnipFMC being awarded three frame agreements by Petrobras; and more. […]
Guyana’s VP Jagdeo Says Oil Audits Will Be Completed
(DPI, 17.Nov.2021) — Vice President, Dr. Bharrat Jagdeo said the government will complete the audits of costs claimed by ExxonMobil for its operations, and assured that Guyana’s interests will be protected. His comment was made in response to concerns that the accounting provisions in ExxonMobil’s Stabroek block contract stipulate a […]
Guyana To Auction New Oil Blocks By 3Q:22, VP Jagdeo Says
(Reuters, 2.Nov.2021) — Guyana plans to auction new blocks for offshore oil exploration by the third quarter of 2022, Vice President Bharrat Jagdeo said late on Monday. A consortium led by Exxon Mobil is responsible for all output in Guyana, Latin America’s new oil frontier, since the vast Stabroek block […]
Emerging Oil Markets on the Path to Net Zero
(News America, 5.Oct.2021) — This year, the world has become increasingly aware of a global energy shortage as well as the irreversible damages of climate change. Throughout Europe, gas prices have tripled due to a fall in inventory meeting a fast-recovering global economy. Reduced wind power, which accounts for roughly […]
Jagdeo: Developed Countries Must Help In Climate Fight
(DPI, 18.Aug.2021) — Vice President Dr. Bharrat Jagdeo MP, has issued a clarion call for developed countries to pull their weight in the fight against climate change. The Vice President made this appeal Tuesday night, during his feature address to the Rice University: Baker Institute Centre for Energy Studies with […]
Guyana Eyes Oil Developments, Rising Per Capita Income
(Energy Analytics Institute, 17.Aug.2021) — Guyana’s Vice President Bharrat Jagdeo took part in the Offshore Technology Conference (OTC) held in Houston between 16-19 August 2021. What follows are brief details from his discussion on 17 August during a panel entitled “Guyana: An Emerging Oil Industry in the Context of Net […]
Guyana Seeks Higher Royalties
(Reuters, 17.Aug.2021) — Guyana aims to increase its oil royalties and revamp other contract terms as part of a new profit-sharing agreement (PSA) for future crude and gas projects now in its draft stage, the South American nation’s vice president said on Tuesday. The tiny country has become one of […]
Guyana Opts Against LT Supply Deal With India
(Reuters, 10.Aug.2021) — Guyana’s Natural Resources Ministry said on Monday the country earned nearly $80 million from a July crude cargo sold to an Indian refiner, the highest figure since exports began in early 2020, though an official ruled out a long-term supply deal. Guyana sold the cargo of 1,047,820 […]
Guyana-US Relations Strong, Valuable
(DPI, 8.Jul.2021) — His Excellency Dr Irfaan Ali called the relationship between Guyana and the United States of America strong and valuable and pointed to greater partnerships between the two nations moving forward. The Commander in Chief and several senior members of his Government, including the Prime Minister, Brigadier (Ret’d) the […]
Guyana Gets Fourth Oil Lift
(Stabroek News, 28.Dec.2020) — At a price of close to US$49.50 per barrel of oil, Guyana has received its fourth one million barrels of oil scheduled for this year and will get its first lift for 2021 in February next year, Vice President Bharrat Jagdeo yesterday confirmed. It would mean […]
Payara Licence A Major Improvement On Liza 1
(DPI, 3.Oct.2020) — The new licence issued to Esso Exploration and Production Guyana Limited (EEPGL) for the development of its Payara well features significant new clauses missing from the Liza 1 well licence issued by the APNU+AFC. Vice President Dr. Bharrat Jadgeo on Friday said there were major improvements to the […]
Guyana Planning For More Demands On ExxonMobil
(Forbes, 20.Aug.2020) — With the newly-elected People’s Progressive Party/Civic (PPP/C) government now firmly in place following five months of vote-counting controversy, Guyanese President Irfaan Ali and his Vice President, Bharrat Jagdeo, have recently turned the discussion over the country’s offshore oil developments to proposals to require oil and gas operators […]
UK’s Global Witness Urges Guyana Renegotiate Oil Deal
(Caribnews, 18.Aug.2020) — The United Kingdom-based, anti-corruption organization Global Witness yesterday called on the new Government here to immediately investigate and renegotiate the US-owned oil giant Exxon’s exploitative oil license to ensure the country has the funds needed to rebuild after divisive elections and a debilitating novel coronavirus pandemic. In […]
Payara Approval Will Not Be Rushed: Bharrat Says
(Kaieteur News, 14.Aug.2020) — Even though the PPP/C government may be desirous of granting the approval for ExxonMobil’s third development project within a reasonable timeframe, it will not be rushing the review of the Payara Field Development Plan so as to compromise the integrity of the process. Making this statement […]
Guyana Pushes Exxon For Gas-generated Electricity
(DemeraraWaves, 14.Aug.2020) — 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, […]
Guyana Mulls Absorbing Energy Dept Into Ministry
(Argus, 10.Aug.2020) — Guyana’s new natural resources minister is computer scientist Vickram Bharrat, a key appointment for the rapidly expanding oil sector. Bharrat, who is part of the administration of President Irfaan Ali that was inaugurated on 8 August, could assume an expanded portfolio if the ministry absorbs the energy […]
Vote Standoff Prolongs Guyana Uncertainty
(Argus, 13.Jul.2020) — Guyana’s political stalemate is prolonging uncertainty over the future management of the South American country’s fledgling oil sector, and raising the prospect of US sanctions. The declaration of the winner of the 2 March presidential and parliamentary election has once again been delayed by a standoff between […]
Guyana Awaits New Oil Authorities
(Argus, 9.Jul.2020) — Changes are coming to the management and policy of Guyana’s fledgling oil sector, after a regional court cleared the way for declaring a victory for the opposition in a 2 March parliamentary election. In a pending declaration by the elections commission (Gecom), the People’s Progress Party (PPP) […]
Statement From The OAS On The Elections In Guyana
(OAS, 4.Jun.2020) — The General Secretariat of the Organization of American States (OAS) is mindful that the recount of the votes cast in the March 2 General and Regional elections in Guyana, will be concluded in the next few days. OAS International Election Observers have been present at the recount […]
Guyana Political Stalemate Drags On
(Argus, 15.May.2020) — Fledgling oil producer Guyana’s political stalemate is dragging on amid slow progress in a closely watched recount of votes from a disputed 2 March parliamentary election. The electoral outcome is critical to the country’s future oil policy, six months after ExxonMobil kicked off deepwater production on the […]
Guyana Poised To Become A Rich Country
(Miami Herald, 13.May.2020) — The discovery of oil off its Atlantic coast is poised to transform a largely underdeveloped Guyana from one of South America’s most polarized and poorest nations into possibly one of its richest. But an ongoing post-electoral crisis involving allegations of fraud in its high stakes March […]
Political Battle Could Jeopardize Oil Boom
(Oilprice.com, 6.Apr.2020) — Amidst the torrent of news on the adverse impacts of COVID-19, recent developments in Guyana stand out as something of a countercurrent. In times when the entire world seems to be bracing for an impending economic catastrophe, Guyana is paralyzed by a political impasse that not only […]
Guyana’s New Oil Economy Under Pressure
(Bloomberg, 24.Mar.2020) — When Exxon Mobil Corp. came to Guyana, the US oil giant brought with it the promise of extraordinary economic growth. Now the tiny South American country is embroiled in a bitter battle over who might control that wealth just as the crude starts to flow. In November, […]
Exxon, Guyana Head Toward Uncertain Future
(OilandGas360.com, 20.Mar.2020) — They are the odd couple of the global oil patch: Guyana is a poor former British sugar colony. Exxon Mobil is America’s largest oil company. They came to depend on each other after a series of extraordinary oil discoveries off Guyana’s coast transformed the small South American […]
Caricom On Withdrawal Of Team From Guyana
(Caricom, 18.Mar.2020) — The Caribbean Community (CARICOM) deeply regrets that it has been forced to withdraw the independent High Level Team it fielded on Saturday, 14 March 2020, to supervise the re-counting of the ballots in Region 4 of the General and Regional Elections of 2 March 2020 in Guyana. […]
Guyana’s Oil-soaked Election Heads For Recount
(Axios, 16.Mar.2020) — Guyana’s March 2 election came while the country is on the cusp of a transition from relative poverty to newfound wealth — and it was marred by severe irregularities that caused the U.S. and other countries to reject the result. Why it matters: The coming days could […]
Oil Bonanza Plunges Guyana Into Political Crisis
(The New York Times, 5.Mar.2020) — The discovery of an enormous oil deposit off the coast of Guyana was meant to catapult this tiny country into the top echelons of petroleum producers and put its citizens on the path to better lives. Instead, it has deepened the historical tensions shackling […]
Guyana Elects Leader As Vast Oil Boom Dawns
(AP, 4.Mar.2020) — Guyana voted for a new government on Monday in a bruising fight for control of a tiny South American country whose oil revenues in the next decade could make it one of the wealthiest in the hemisphere. A consortium comprised of ExxonMobil and partners, Hess Oil of […]
Guyana Holds Crucial March Election
(Aljazeera, 2.Mar.2020) — Guyana’s economy is expected to be transformed by oil and gas discovered off the poor South American country’s shores. Voters in Guyana will head to the polls on Monday in a crucial election that will decide which party oversees an oil boom that is expected to transform […]
Guyana’s Burgeoning Oil Wealth Kindles Contract Row
(S&P Global Platts, 30.Jan.2020) — ExxonMobil’s growing oil discoveries offshore Guyana are amplifying domestic calls for a review of production-sharing contract terms on the eve of the small South American country’s first elections as an oil exporter. Opposition political parties vying to unseat the ruling coalition in 2 March parliamentary […]
About Guyana: GECOM
(GECOM, 5.Jul.2019) — Guyana, the only English speaking country in South America was first inhabited by the Amerindians until the era of the European exploration when the Spanish began using it as a trading post during the 16th Century. Background and history Guyana, the only English speaking country in South […]
Guyana Leader Cringes with Each Oil Discovery
(Kaieteur News, Abena Rockcliffe-Campbell, 31.Aug.2018) — Ordinary Guyanese who do not fully understand the fiscal regime of Guyana’s deal with oil giant, ExxonMobil might get excited each time a new discovery is made. On the other hand, Opposition Leader Bharrat Jagdeo indicates that he cringes. Yesterday, ExxonMobil announced another find […]