Guyana Oil and Gas News

Dear Editor, While the national conversation on Guyana’s emerging oil & gas sector has demonstrated our collective commitment to an accountable process, emerging policies and discussions have lacked an inter-industry policy development framework.

If corruption is a disease, transparency is an essential part of its treatment.

By Lear Matthews Lear Matthews is professor, State University of New York, Empire State College.

    Introduction This week, I conclude my discussion on the requirements for avoiding the perils of enclave-type development in Guyana’s economic structures.

Dear Editor, I see that British High Commissioner to Guyana Gregory Quinn has waded into the discussion on how Guyana should spend its oil money.

Gregory Quinn acknowledged that conditional cash payouts can be beneficial to Guyanese as he has stressed that infrastructure should be priority.

Ahead of the third round of the Caribbean Motor Racing Championship (CMRC) next weekend, Raveiro Tucker of  Team Tucker received much need sponsorship from ExxonMobil, ‘D’ Grill Kings and Hand-in-Hand Fire Insurance Company Limited on Thursday.

Natural Resources Minister Raphael Trotman yesterday defended the APNU+AFC administration’s “strategic relationship” with ExxonMobil, saying that it is guided by the long-term security of the state and not just future income.

Everything is in place at the Guyana Shore Base Incorporated (GYBSI) for ExxonMobil and its partners, in time for first oil in 2020, Director of Muneshwer’s Limited, Robin Muneshwer said.

Chief Statistician Lennox Benjamin yesterday said cross border immigration and the start of oil production will bring changes in the profiles of Guyana’s population over the next two to four years, thereby making the Bureau of Statistics’ data gathering essential to informing growth and development.

Some of the world’s biggest energy companies are gearing themselves to take a ‘tilt’ at mega investments in the recovery of giant oil and gas deposits, from liquefied natural gas in Mozambique to deep-oil in Guyana.

If the July report of the Food and Agriculture Organization (FAO) is anything to go by, Guyana would do well not to allow its new-found and soon to be exploited oil resources to give rise to the temptation to significantly reduce its traditionally successful agricultural sector.

A United States congressional and military delegation yesterday arrived in Guyana and held their first meeting with Minister of Natural Resources Raphael Trotman, a visit that government has been tightlipped on but has said is a “familiarisation” one.

Former petroleum adviser to President David Granger, Dr Jan Mangal has rapped the government for allowing Conservational International (CI) to assist it with building oil and gas capacity.

The Department of Energy (DOE) , Ministry of the Presidency, which is to steer the oil and gas sector, this week advertised for an office manager and accountant.

Dear Editor, Dr. Clive Thomas devoted about half of his recent piece, `Navigating Guyana’s Development Challenge – 8,’ (SN, 19 August) to the idea of absorptive capacity. 

Dubbing the PNCR as the “natural, national leader,” President David Granger yesterday said that the APNU+AFC government will not be “intoxicated by oil” as he vowed that the petroleum sector  will be managed in accordance with “international best principles”.

Introduction Recall that Column # 54 published in this column last week cited two Emancipation Day speeches, one from President Granger which was discussed at some length in the same column.

Mid-Atlantic Oil and Gas Incorporated is now legally entitled to all of the same tax concessions which ExxonMobil’s local subsidiary and its partners enjoy following a motion which was passed last week in the National Assembly.

When the revised Petroleum Commission Bill returns to Parliament later this year, not only would it have significantly reduced the powers of the subject Minister, it also incorporates clauses aimed at ensuring its independence, transparency and accountability.