Jan Mangal, former Petroleum Adviser to the President, says ExxonMobil’s Payara oil well development should not be approved until it yields big changes to the much-criticised 2016 deal including a higher royalty rate than the current 2%.
The year 2019 saw the passing of many notable sons and daughters of Guyana’s soil.
The Environmental Protection Agency (EPA) is preparing to levy a fine against Spanish oil company, Repsol for a mud spill which occurred offshore in the Kanuku Block, even as the agency mulls lobbing government to push for 24/7 oversight and for new legislation to raise the paltry levies attached to such incidents.
As the discussion of local content and Guyana’s preparation for the nascent oil and gas industry continues, a former Government Technical Institute student who now works with Saipem (an Italian oil and gas industry contractor) is saying to youths that it is not too late to get prepared and educated for the myriad job opportunities that come with the sector.
A heliport being constructed at Lusignan on the East Coast of Demerara has raised questions about how approval for its construction was given and about air safety.
The Audit Office of Guyana will be auditing the sale of the first three million barrels of Guyana’s oil to ensure that it is transparent as government’s explanation of the process does not make sense, Auditor General Deodat Sharma has said.
-Trotman awaiting final reports before taking action A complaint to President David Granger of mismanagement and corruption at the Guyana Geology and Mines Commission (GGMC), in which top officials have been fingered, has sparked a probe and Minister of Natural Resources Raphael Trotman is awaiting the final report to inform further action on the claims.
The Ministry of Finance and the Bank of Guyana (BoG) yesterday signed a pact which brings closer the operationalisation of the Natural Resource Fund, which is to receive oil revenues, a move hailed by government as demonstrative of its transparency in the management of the oil and gas sector.
As Guyana’s private sector calls for the implementation of power purchasing agreement (PPA) legislation here that would cater to individual homes moving to solar and supplying the grid, the Caribbean Electric Utility Services Corporation (CARILEC) has voiced its support for such a move.
The Guyana Power and Light Inc. (GPL) is receiving assistance from the Caribbean Electric Utility Services Corporation (CARILEC) to address its current power generation problems and the results will be seen soon, according to Executive Director of CARILEC Dr Cletus Bertin.
In a joint venture with the United Kingdom-based InterOil Group Ltd, businessman Stanley Ming is developing a US$200 million oil and gas shore base at Parika, East Bank Essequibo, where, according to him, locals will be able to rent space to provide services for the sector.
Pledging that local content will continue to be foremost in its future plans even as it builds “momentum,” US oil company ExxonMobil yesterday said that its local workforce has tripled since operations began in 2015 and that figure will increase as its projects ramp up.
With over 2,000 local businesses registered and 70 of those securing joint ventures or other partnerships with international businesses, the Centre for Local Business Development (CLBD) is seeking ways for members to have easier access to finance.
The Board of Australian gold mining company, Troy Resources Ltd will on Sunday decide the future of its Region 7 operations, even as Chief Executive Officer Ken Nilsson said that they would need about US$5M per month to sustain it and hinted at a possible short-term scaling down.
With increased oil and gas activity necessitating the treatment and disposal of hazardous waste, the Environmental Protection Agency (EPA) is working to identify sites around the country for the development of state-of-the art landfills while it prepares for closer scrutiny of ongoing operations.
ExxonMobil will take the first three liftings of crude oil from the country’s huge offshore deposits and Guyana will receive its share in its ground-breaking petroleum endeavour beginning around March next year.
Guyana has joined the International Offshore Petroleum Environment Regulators (IOPER), an international regulators group whose help it will be seeking as it accelerates preparations for crucial oversight of the oil and gas sector as the expected start of production has been moved to next month.
Presidential candidate of the Change Guyana political party Robert Badal says that under his government, Guyana will be ‘blackout’ free and voters should judge him on his record as Chairman of the Guyana Power and Light Company (GPL).
The life of the current Public Procurement Com-mission (PPC) expires today and despite the Constitution providing for two commissioners to be granted four-year terms to allow for transitioning, this has not happened.
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