Guyana Oil and Gas News

On the heels of obtaining government regulatory approvals for its Yellowtail well and the announcement of its US$10 billion Final Investment Decision on that project, US oil major ExxonMobil is now seeking approval for a fifth development, at the Uaru+ well.

Amid sharp criticisms of its handling of the approval process for ExxonMobil’s fourth well development, the EPA yesterday said it complied with the law and had conducted public consultations above and beyond what was expected.

The Environmental Assessment Board (EAB) took approximately five working days to complete its review of the over 6000-page revised environmental impact assessment report for ExxonMobil’s recently licensed Yellowtail development project.

Introduction In last week’s column, I had focused on those reputational risks which confront ExxonMobil, and are not risks directly arising from its performance in regard to global climate change and energy transition.

Introduction Today’s column brings together  the  manifest debt deformations of ExxonMobil [its zombification] on the one hand; and other deformations more directly related to the firm’s culture, its management performance, social and cultural interactions in the wider society, and consequently its reputational risk exposure. 

Miami Herald foreign affairs columnist Andrés Oppenheimer has said that the Biden Administration should be looking to Guyana to help it ease burgeoning fuel prices and not Venezuela.

Introduction Today’s column wraps-up my evaluation of whether the assertion can be plausibly sustained that Guyana’s rapidly emergent oil and gas sector has dramatically improved the fortunes of ExxonMobil going forward.

By Jennapher Lunde Seefeldt Jennapher Lunde Seefeldt is Assistant Professor of Government and International Affairs, Augustana University.

The Inter-American Development Bank’s rejection of the Guyana Shore Base Inc’s (GYSBI) expansion loan on the ground that new oil and gas operations won’t be funded has serious implications for this country, according to industry officials.

The decision by the Environmental Protection Agency (EPA) to waive the Environmental Impact Assessments (EIAs) for two 12-well exploration campaigns in the Kaieteur and Canje Blocks, offshore Guyana, by ExxonMobil, is being objected to by environmentalist Simone Mangal-Joly.

Dear Editor, Glenn Lall’s case against the Government paying the oil companies taxes is now on trial.

Guysons K+B (GKB) on Saturday announced the commencement of the training needs assessment for the transition of workers from Enmore’s sugar packaging facility to its oil field service centre and manufacturing facility.

Dear Editor, Can the Oil Contract entered into by GoG and Exxon be a matter of “Private law’’?

Introduction A month ago, in my February 13 column, I had readily acknowledged my strong support for the widely expressed judgment that “ExxonMobil in the second half of the 2010s and certainly all of 2020, had become a classic zombie firm, as that term is defined… in business, finance and economics” I used the preceding month to evaluate whether a turnaround away from this zombie status was likely; beginning in Q4 2021.

Amid continuing concerns here about whether it has been legally bound to full insurance and compensation for any oil spill here , ExxonMobil’s affiliate Esso Exploration and Pro-duction Guyana Limited (EEGPL) yesterday said that while such an occurrence is highly unlikely here, the company and partners will not shun their responsibility.

LONDON,  (Reuters) – Oil prices spiked to their highest levels since 2008 today amid market supply fears as the United States and European allies considered banning Russian oil imports and prospects for a swift return of Iranian crude to global markets receded.

The United States used its voting power in October on the Board of the Inter-American Development Bank (IDB) to deny Guyana Shore Base Incorporated (GYSBI) a US$180 million loan after it had gone  through a two-year approval process, a move that has grave implications for Guyana’s developmental trajectory, according to the Company’s Executive Director Robin Muneshwer.

Economist Tarron Khemraj has said that the government should use the oil money flowing into the country to finance the Amaila Falls Hydropower Project rather than employ the BOOT model which is being touted by the Ali administration.

With approximately US$200 million already invested to meet the needs of the expanding oil and gas sector, Guyana Shore Base Incorporated (GYSBI) is seeking to plug an additional US$250 million to further develop its capacity.

Introduction My two immediately preceding columns have been dedicated to exploring, for reader’s benefit the thesis advanced by Envision Research, which argues that, ExxonMobil, an iconic Global 500 corporation, can successfully turnaround its fortunes away from its heavy indebtedness and ongoing zombification – if it could arrive at a financial position where it is able to generate sufficient revenues to be able to invest in its own self-driven or organic growth.