Dec 30, 2024
Kaieteur News- ExxonMobil is confident it will capture all remaining opportunities in the Stabroek Block offshore Guyana before its exploration license expires in October 2027. This is according to Liam Mallon, President of ExxonMobil Upstream Company. There are over 30 significant discoveries made by Exxon in the Stabroek Block since 2015. Currently, oil is being...
Dec 20, 2024
It was hardly surprising that the fifth year of oil production evoked barely disguised triumphalist declarations by ExxonMobil Guyana. After all, the US oil major is laughing all the way to the bank and envisages decades more of this great carrying away of the national patrimony while the PPP/C government watches on disinterestedly and in...
Dec 15, 2024
Kaieteur News – International award-winning lawyer, Melinda Janki, has warned the United States Export Import (US EXIM) Bank that approving Guyana’s application for a loan to support the Gas-to-Energy (GTE) Project exposes the financial institution to political, financial and litigation risks. In a submission to the Bank, dated December 6, 2024, Janki lobbied the Board...
Dec 08, 2024
Kaieteur News- Although Guyana is paying for the assets being used in the offshore production of oil in the Stabroek Block through the cost recovery mechanism, this does not make the country a part owner of the assets. This therefore means that in the event of an oil spill occurs as a result of the...
Oct 13, 2024
Kaieteur News – ExxonMobil Guyana Limited (EMGL), the operator of the oil-rich Stabroek Block and its Co-Venturers, Hess Guyana Exploration Ltd and CNOOC Petroleum Guyana Limited have deducted just over $60B to date for decommissioning activities. The monies have been set aside in a fund which is controlled by the partners according to President and...
Oct 10, 2024
…says any change would undermine basis for company’s investment The parliamentary Opposition have been campaigning that they would review the Stabroek Block contract, but the United States-based ExxonMobil company has poured cold water on any possibility of renegotiating the fiscal terms of the contract. In a press conference held on Wednesday, ExxonMobil Guyana President Alistair...
Sep 28, 2024
By Stabroek News September 28, 2024 Dear Editor, We shall be soon piping into October 2024, where we are told by high government authorities that the Gas to Energy (GtE) loan application in at the US Exim Bank will land on the Board of Director’s (BoD) agenda, allegedly based on environmental and technical studies’ rectitude....
Sep 27, 2024
Kaieteur News – The highly touted US$2B Gas-to-Energy (GTE) project is intended to reduce monthly electricity bills by 50% but Vice President Bharrat Jagdeo is unable to say how soon consumers can expect this reduction. In the absence of a feasibility study for the project, stakeholders have been constantly questioning the project’s capacity to deliver...
Sep 23, 2024
Former finance minister Winston Jordan has said that with no agreement between the government and ExxonMobil made public or shared with the Parliament on how the pipeline for the more than US$2 billion gas-to-energy (GtE) project is being funded, it seems like the government has taken an illegal loan. “We have no agreement in public...
Sep 20, 2024
Even as construction continues on its model Gas-to-Energy (GtE) project, the Guyana Government is already forging ahead with Phase Two of that initiative which could see a second power plant and Natural Gas Liquids (NGL) facility at Wales, West Bank Demerara (WBD). Under Phase One of the Gas-to-Energy project, an Integrated Natural Gas Liquids facility...
