Category Archives: Oil Exploration

Pres. Granger says… ExxonMobil contract back with Cabinet

Pres. Granger says… ExxonMobil contract back with Cabinet

President David Granger

Amid growing unhappiness over the 2016 Production Sharing Agreement (PSA) between Government and U.S. oil giant, ExxonMobil, President David Granger yesterday disclosed that the matter is engaging Cabinet.

The President was asked by Kaieteur News, specifically, if Government is prepared to review the contract based on public requests.    Continue reading

That oil contract may be rooted in history – By Adam Harris

That oil contract may be rooted in history

By Adam Harris – Kaieteur News

Most of the conversation these days centres on the oil contract. This contract was made public in December after calls by the society. And from the time the contract was released, people began to pick holes in it.
And indeed there are flaws that seem to be to Guyana’s disadvantage. Critics began to pick at these flaws. Now there are calls for the oil company to revisit the contract and make things a bit more meaningful and profitable for Guyana.     Continue reading

Shell made mistake by pulling out of Guyana’s oil basin

Shell made mistake by pulling out of Guyana basin

By Bert Wilkinson – Caribbean Life News

Now that Guyana’s oil and gas basin has been deemed as one of the hottest and most exciting prospects in the world, Shell Oil has to be regretting its decision to withdraw as an investment partner with United States giant ExxonMobil, which has so far drilled six successful wells offshore Guyana worth about 3.2 billion barrels of oil, officials said Monday, Jan. 29.  Continue reading

The View from Europe: Oil, the environment and the Caribbean – By David Jessop

Earlier this month Exxon announced that that it had made a major new oil find off Guyana. It was, it said, the largest since it began exploration there in 2015. The company’s statement followed one last June advising of a ‘world-class discovery’ on another well, and before that, announcements about four other commercially exploitable finds.

What this and Exxon’s recent request to the Guyanese government for permission to drill up to 40 new wells after 2022 suggests, is that the country is about to become a major oil producer in the Western Hemisphere.      Continue reading

Commentary: Venezuela sinks further, dragging other countries with it

Commentary: Venezuela sinks further, dragging other countries with it

January 21, 2018 – By Youri Kemp

Venezuela is crumbling right before our very eyes. It’s sad that a once prosperous country — even under the tamest Bolivarian dramatics — is being reduced to rubble under what we can only call mismanagement at its highest level.

Since President Nicholas Maduro took office after quelling a mini-coup and massive dissent to his rule, coupled with ongoing civil unrest, there has been nothing but chaos, confusion, allegations of corruption, the suppression of news, assaults on the opposition and media and the repression of a proud people that deserve better.    Continue reading

ExxonMobil to build HQ, hotel, helipad, training centre, etc.

ExxonMobil to build HQ, hotel, helipad, training centre, etc.

– identifies 10 acres of land from Ogle Airport Inc.

ExxonMobil will soon begin developing 10 acres of land under the control of Ogle Airport Inc (OAI), the company that operates the Eugene F. Correia International Airport.

Reports are that the oil company is looking to erect its headquarters there. ExxonMobil also wants to build a training center and a helipad. One source said, “I am also being told that they will throw up a ‘living quarters’ which can be considered a hotel.”

Yesterday, OAI’s Public Relations Officer, Kit Nascimento confirmed that the oil giant is looking to get lands at Ogle. He did not specify amount.     Continue reading

Guyana’s oil needs minimum refining – Trotman

Guyana’s oil needs minimum refining – Trotman

Raphael Trotman

By Abena Rockcliffe-Campbell

Minister of Natural Resources Raphael Trotman has indicated that Guyana’s oil is of top quality. He even boasted that the crude needs minimum refining. This, the Minister pointed out at a recent press conference in response to a question posed by Kaieteur News.     Continue reading

Guyana, the NEW Frontier – on the Barbados Underground Blog

Barbados Underground

Submitted by The Mahogany Coconut Group

A decade ago, many Guyanese living in the Diaspora, would have been negative about returning home. They feared mostly the racial and political tensions. Some sought to live in other Caribbean islands and were often accused of accepting lower wages than the workers in those countries. In many ways, Guyana had become the butt of many “island jokes” about its weak currency and shortage of consumer goods, taken for granted throughout the region.

Those travelling to Guyana on vacations and business often were amazed that Guyanese themselves, were so negative about such a bountiful land with natural resources not found in any other country in the region. They also marvelled at the gracious manner of the Guyanese people, even in the toughest of times. The Guyanese are known for their excellent cuisine and their incredible crafts people. They have long established themselves as intellectual…

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Sixth major oil discovery offshore Guyana by ExxonMobil

Sixth major oil discovery – Exxon announces largest oil find to date in Stabroek block

IRVING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE:XOM) announced Thursday positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015.

The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels.    Continue reading

AFTER ALL, 2017 WAS NOT A BAD YEAR FOR GUYANA

AFTER ALL, 2017 WAS NOT A BAD YEAR FOR GUYANA

 Jan 03, 2018  Editorial Kaieteur News

Looking back, 2017 was not a bad year after all compared to others. In fact, no matter how one slices it, 2017 will go down as another peaceful but challenging year for Guyana.
The country had to grapple with problems of the economy, high unemployment, health care, and education. However, there was the declining road fatality figure; there was the drop in serious crimes and the police solved crimes that were unsolved for years.    Continue reading

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