New edition of Guyana Energy Brief launched; country’s growth rate ‘beyond remarkable’ says President

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OilNOW
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As thousands converged at the Marriott Hotel for the International Energy Conference and Expo 2023 last week, the Government of Guyana launched its Guyana Energy Brief 2023.

The Magazine outlines Guyana’s Energy Outlook, Transformation of the Upstream Market, Growth of the Midstream and Downstream Markets, and Development of the Natural Gas Market.    

“The Government of Guyana through the Ministry of Natural Resources has updated the fourth edition of the Guyana Energy Brief which is a publication that highlights the development in the sector, the projected advancement from the operational side, as well as the policy and legislative framework that the government is working on within the coming year,” Bobby Gossai Jr., Senior Petroleum Coordinator at the Ministry of Natural Resources, told OilNOW.

Featured is a message from President Dr. Mohamed Irfaan Ali, who said that even in the face of geopolitical conflict, the longstanding and doldrum effects of the COVID-19 pandemic and production shortfalls as a consequence of climate-related events, Guyana continues to outperform itself.     

“The strong, bold and transformative policies by the Government of Guyana have reaped benefits that are beyond remarkable, as manifested in the growth rate of 62.3% for 2022 – signifying that for two years, Guyana has been the fastest growing economy in the world,” President Ali said.   

The growth over the past two years were driven by strong performance in the petroleum sector, due to increases in oil production in the offshore Stabroek Block.

“Better than expected” Guyana’s oil economy grew 124.8% in 2022 – Finance Minister | OilNOW

A spokesperson for the Ministry of Natural Resources, said “The expansion of Guyana’s oil and gas sector continues at a pace that surpasses industry standards. In light of the foregoing and in keeping with the Government of Guyana’s commitment to transparently educate the public about the developments in this nation’s petroleum industry, the Guyana Energy Brief was birthed.”

She told OilNOW that hundreds of copies of the magazine were shared in time for the Conference, and that more publications of this nature will be used to disseminate information about the sector.

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