…says Coalition’s plan to ring-fence oil projects was abandoned by PPP Gov’t Kaieteur News- During the A Partnership for National Unity and Alliance For Change (APNU/AFC) tenure in office, the Coalition was actively pursuing a ring-fencing provision for the Stabroek Block. A ring-fencing provision would mandate that only costs associated with that development is recovered...

…highlights role of Govt. in buffering inflation through cash grants, subsidies Kaieteur News- ExxonMobil’s seventh proposed deepwater development in the Stabroek Block- Hammerhead – can contribute to higher cost-of-living, specifically resulting in increased cost of certain goods and housing. This is according to an Environmental Impact Assessment (EIA), conducted by the company’s consultant, Environmental Resources...

Kaieteur News- The Government of Guyana (GoG), through the Ministry of Natural Resources (MNR), admitted on Saturday that an oil spill could hit the country’s seashore before the capping stack is deployed, but said other measures will be taken to avoid the potential of oiling. Govt. admits spill could hit shores before capping stack deployment...

Kaieteur News- An oil spill that occurs in the Stabroek Block could hit parts of Guyana’s shorelines before the capping stack arrives at the blown-out well to plug the leak. According to information publicly available and recently confirmed by an ExxonMobil team, the 93,000-pound piece of equipment will take “several days” to arrive at its...

Kaieteur News- The Extractive Industries Transparency Initiative (EITI) has called on Guyana to show how revenues generated from the extractive industries are used. In its most recent report for the year 2022, the transparency watchdog noted that the utilisation of revenues generated from extractive industries is an area which may be addressed by countries implementing...

Kaieteur News- The local consortium that was hired by the government of Guyana (GoG) to conduct the third audit of ExxonMobil’s US$19.6B expenses has completed the review. This was revealed by Minister of Natural Resources, Vickram Bharrat, in an invited comment on Tuesday. Minister Bharrat told this newspaper that the Guyana Revenue Authority (GRA) has...

Kaieteur News- Record production in Guyana and Permian helped American oil giant ExxonMobil Corporation beat analysts’ 2024 fourth quarter profit estimates. Record production in Guyana, Permian help Exxon pocket US$7.3B earnings for Q4 2024 The announcement was made on Friday. Exxon’s adjusted profit is US$7.39 billion, or US$1.67 per share. The company reported full-year adjusted...

…cites failure of company to explain overstated precontract costs, defiance of int’l safety standards Kaieteur News- Members of the Oil and Gas Governance Network (OGGN) have challenged ExxonMobil Guyana Limited (EMGL) to prove its adherence to the “highest ethical standards” as claimed by its lawyer in a December 8, 2024 letter to this publication. General...

Kaieteur News-ExxonMobil Guyana Limited (EMGL) has hired Environmental Resources Management (ERM) for a ninth time to conduct an Environmental Impact Assessment (EIA) for its offshore oil and gas operations in Guyana. The Terms and Scope for the EIA of the seventh project- Hammerhead- prepared by the Environmental Protection Agency (EPA), indicates that ERM was approved...

– says State must demand full liability coverage for oil spills – apply new terms to Stabroek Block deal Kaieteur News – Members of the Oil and Gas Governance Network (OGGN) on Friday said that it has noticed an alarming trend where the government is now in full attack mode against advocates for a better...