Category Archives: Oil Exploration

Guyanese Campaigners Mount Legal Challenge Against Three Oil Giants

Guyanese Campaigners Mount Legal Challenge Against Three Oil Giants – Exxon Mobil, Hess Corporation and Nexen

Crowdfunded case claims offshore oil licences were granted illegally by the Guyanese government

Sandra Laville | The Guardian UK

Three major oil companies preparing to drill off the shores of Guyana, where a string of discoveries have sparked a rush for crude, are being challenged by a group of citizens who say their dash for oil is illegal.    Continue reading

Italian Oil Company Interested In Drilling Offshore Guyana

MINISTER OF NATURAL RESOURCES RAPHAEL TROTMAN (CENTRE) WITH OFFICIALS FROM ITALIAN OIL COMPANY ENI.

Italian Oil Company Interested In Drilling Offshore Guyana

GEORGETOWN, Guyana, Tuesday March 27, 2018 – ENI, an Italian oil and gas exploration company could be the new kid on the block if the Guyana government gives it the go-ahead to carry out exploration offshore.   Continue reading

Guyana’s Oil: “If you tear this contract up, nobody else will come” – British Economist

“If you tear this contract up, nobody else will come” – British Economics Professor on ExxonMobil’s contract with Guyana

Sir Paul Collier

Posted by: Denis Chabrol in Demerara Waves – March 21, 2018

A British Professor of Economics and Public Policy, Sir Paul Collier  on Wednesday warned that if Guyana scraps  the ExxonMobil contract that would have disastrous consequences for the country’s investment climate, but he instead recommended strongly that the country beef up its capacity to avoid tax evasion by oil companies.    Continue reading

Guyana – Oil: Over 200,000 expatriates expected. Investment opportunities available

Guyana’s former sugar estate lands available for oil sector-related real estate development

By: Denis Chabrol – Demerara Waves – March 11, 2018

Guyana is making available large swathes of former sugar estate lands for constructing upscale houses and business complexes for the burgeoning oil and gas sector, but a top government official cautions that the lands cannot be held indefinitely for speculation.

“These developments will come with a time-frame so you can’t take an acre or ten acres and say you will build a high-rise or a condominium and take ten years to build it. We’ll specify the time frame for you to start building,” Head of the National Industrial and Commercial Investments Limited’s (NICIL) Special Purpose Unit (SPU), Colvin Heath-London said.       Continue reading

OIL: Guyana Is About to Open Up Pandora’s Barrel – Bloomberg

Guyana Is About to Open Up Pandora’s Barrel

Expats hold the key to whether its big offshore oil deposits bring riches — or ruin.
Wedged between Brazil and Venezuela, Guyana could easily go unnoticed. It has fewer than 750,000 people and a per capita income of $4,300, half the regional average, qualifying it as the hemisphere’s third-poorest nation.
 At the moment, Guyana also might be its luckiest. Having struck big oil offshore starting in 2015, industry experts reckon total reserves at around 2 billion barrels. That bounty could make Guyana immeasurably rich and Latin America’s biggest producer in less than a decade – or just another Trump-hole.   Continue reading

ExxonMobil’s contract will yield more royalties than gold – Business Minister Dominic Gaskin

ExxonMobil’s contract will yield more royalties than gold annually

Dominic Gaskin Business Minister

Demerara Waves– March 6, 2018 – In the face of persistent criticisms of the Guyana-ExxonMobil agreement, Business Minister Dominic Gaskin on Tuesday railed against critics who see the deal as “chicken feed”, instead saying that it would yearly earn the country more than gold.

Addressing the opening of a Private Sector Commission- organised seminar under the theme “Oil and Gas in Guyana: Perspectives in Guyana”, Gaskin said he had no problem with criticisms of the contract but contended that comparisons with Ghana and Uganda amounted to “incomplete and misleading” information.    Continue reading

Electric cars will come of age in 2018 | Oil Markets could be wrecked – 2 videos

The Economist – October 18, 2017

Electric cars will come of age in 2018 | The Economist

Electric cars will come of age in 2018. For the first time they will compete in price and performance with petrol and diesel cars. But in the year ahead we will also be confronted with some uncomfortable truths about going electric.

********   Video # 2 Below  ********

Electric Cars Could Wreak Havoc on Oil Markets Within a Decade   Continue reading

Guyana Politics – Granger’s Oil – By Verian Mentis-Barker – Xpress Blog

Now they shrug, this group of people who are not sure what has become of the leadership they voted for. We’ve been chatting for quite a while now, just sharing, not sure of what to make of anything.

They’re revisiting a copy of the Manifesto page 4 Presidential Candidate’s letterparticularly the citations of nepotism, especially the part that read PPP… It offers favours to its favourites…

I continue.           READ MORE

Trotman handing over oil responsibility to Granger’s ministry

 Granger’s ministry …to form Department of Energy

Photo:  Minister of State, Joseph Harmon and Minister of Natural Resources, Raphael Trotman briefing the media on December, 29, 2017.

Minister of Natural Resources, Raphael Trotman is preparing to hand over responsibility for the oil and gas sector to the Ministry of the Presidency, government announced Tuesday.

“The government will, in the coming months, establish the Department of Energy which will be housed in the Ministry of the Presidency,” government said. Trotman said the department will be “focused only on the development of the petroleum sector”, based on a proposal that he made to President David Granger last year.     Continue reading

ExxonMobil makes 7th oil discovery offshore Guyana- production 500,000 barrels daily

United States (US) oil giant, ExxonMobil, has found even more oil offshore Guyana but a company spokesman would not be drawn into comment about the amount found.

Spokeswoman, Kimberley Brasington confirmed an announcement earlier Tuesday by Minister of Natural Resources that there has been another major oil find.    Continue reading

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