Category Archives: Oil Exploration

The Search for Oil in Guyana: Past and Present – By Nigel Westmaas

The Search for Oil in Guyana: Past and Present

Nigel Westmaas | Stabroek News – 

But for the name “British Guiana” the title in the image above could have been written in 2016.

Yet, this eerily contemporary statement actually came from a Daily Chronicle editorial published on November 18, 1930, some 86 years ago. The editorial called on British Guianese to be “oil minded” as “the first stepping stone to progress along the lines of oil development…” adding that “there is a fair prospect of the colony developing a lucrative oil industry…”   Continue reading

Guyana and ExxonMobil: When a wrong is promoted as right – By Adam Harris

When a wrong is promoted as right – By Adam Harris

 

Oct 08, 2017  Features / Columnists, Adam Harris

There is a basic rule that states, “If something accrues from an illegality then that thing is also an illegality.” Simply put, you cannot do something wrong and claim that the end product is right. The end product may be acceptable but certainly not right.

Robin Hood was the epitome of doing something wrong and claiming that what he did was right because he would rob the rich and give to the poor. He was glorified. The society chose to ignore the wrong because the end result was what mattered to them. The Sheriff of Nottingham, however, wanted Robin Hood for the wrong.    Continue reading

CSJAD Newsletter – September 2017

Download: CSJAD Newsletter – September 2017

Guyana-Suriname Basin ranked 2nd most prospective in the world for oil

Guyana-Suriname Basin ranked 2nd most prospective in the world for oil

An estimated 13.6 billion barrels of oil and 32 trillion cubic feet of natural gas could lie in the Guyana-Suriname Basin, making it the 2nd most prospective, under-explored offshore oil basins in the world, according to the United States Geological Survey.      Continue reading

Exxon, Guyana look at bringing gas ashore to generate electricity

Exxon, Guyana look at bringing gas ashore to generate electricity

By Bert Wilkinson – Caribbean Life News- NY

oil rigs and production

United States oil giant ExxonMobil and Guyanese authorities this week started two days of talks to determine whether it is feasible to run a 100-mile plus undersea pipeline bringing natural gas from its offshore wells to generate power for the Guyana Power and Light Corporation, the main state utility.

Spokeswoman Kimberly Brasington said Exxon has flown in a special team of specialists from headquarters in Texas to crunch numbers with officials in the country which is anxious to reduce dependency on fossil fuels for power generation.   Continue reading

Venezuelan Collapse? Wishful Thinking? Caracas Oil Deals with Russia and China

Venezuelan Collapse? Wishful Thinking? Caracas Oil Deals with Russia and China

The oil and business press is abuzz with predictions of an imminent Venezuelan financial collapse, as a prelude to its political implosion, which should oust President Maduro and erase the Hugo Chavez ambitious experiment.

The country is running out of money, and is unexpected to pay some US$ 3.5 Billion in international loans coming due in October/November 2017. Such a default will trigger creditors to seize its assets, especially oil export shipments, which would stall oil production and end its last hope of salvation.       Continue reading

Guyana: IN DEFENSE OF OIL – By Verian Mentis-Barker

IN DEFENSE OF OIL

“Matters not if Guyana secured a good or bad deal, we got a deal…time to move on” – Finance Minister Winston Jordan, on oil.

Maybe on other matters, this swashbuckling declaration might have garnished the Minister some affirmation but he was referring to a company whose earnings are greater than his country’s Gross Domestic Product  and wields more economic power than his country does on the world stage…. even though it’s a corporation.    Continue reading

Oil will not fall victim to vicious ‘friends and family’ culture – Trotman promises

Oil will not fall victim to vicious ‘friends and family’ culture – Trotman promises

The mining, forestry, and broadcasting sectors, among others, have been victims of an

Minister of Natural Resources, Raphael Trotman

unscrupulous culture. It is a culture which sees the close friends and families connected to government officials benefitting from revenue and/or resources which are intended for the benefit and development of the state and its people.

But this culture is not unique to Guyana. It is particularly prevalent in the oil and gas sectors around the world. As Guyana prepares for this new industry which is poised to bring gushing streams of revenue, Minister of Natural Resources, Raphael Trotman is assuring that the Government is going above and beyond to insulate the oil sector from corruption.    Continue reading

ALL HANDS ON OIL – By Verian Mentis-Barker

ALL HANDS ON OIL

Gyana,oil, Exxon, Hess,CNOOC China, Lisa , Stabroek

When the International Financial News Organs mention the Liza 1 and 2 and the Stabroek oil wells found in the waters of its off-shore, it’s always with Guyana as the subtext.

Just look at the swagger in these headlines of Forbes Financial Magazine, June 30th 2016, in article by Christopher Helman “With Second Big Oil Discovery, Exxon Puts Guyana On The Map”…yeah, putting Guyana on the map…as Economist Magazine  ‘Gusher in Guyana’, article of June 29th 2017 tops it off with sub heading ‘It will take better politicians to resist the corrosive power of petrodollars’

Just for the record….if there is any noble propensity here, it is certainly tempered by a reputation of avarice and narcissism and this is what makes these magnates mount their horses of hubris and ride in to town…not because they are overtaken by any zealous munificence and definitely not because they want to make  Guyana its benefactor… but because they are driven to multiply their riches by oil.   Continue reading

ExxonMobil announces second giant oilfield offshore Guyana…500 million barrels found

ExxonMobil announces second giant oilfield offshore Guyana…500 million barrels of oil found

IRVING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE:XOM) today announced it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total Payara discovery to approximately 500 million oil-equivalent barrels.

These positive well results increase the estimated gross recoverable resource for the Stabroek Block to between 2.25 billion oil-equivalent barrels and 2.75 billion oil-equivalent barrels.     Continue reading

%d bloggers like this: