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Fmr Guyana President says CGX Energy did not pay ‘signing bonus’

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Former Guyana President, Bharrat Jagdeo, has denied that Canadian Oil Exploration Company CGX Energy paid a ‘signing bonus’ to the then administration - monies that were used to pay legal fees for the Guyana/Suriname border dispute some years ago. The...
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Shell, Repsol among big names pursuing natural gas production in Bolivia

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(Hart Energy) Bolivia’s gas industry could begin 2018 on a positive note, following years of low exploration investment that shrank gas reserves as production increased amid less demand from its top customer Brazil. The country is working to boost investment...
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Guyana legislators approve US$5.3M natural resources work programme

OilNOW -
Guyana’s legislators on Tuesday approved - unchallenged in the National Assembly - the Ministry of Natural Resources US$5.3M (G$1.1B) 2018 work programme of which US$145,000 (G$30M) has been allocated for oil gas related activities next year. Included in the allocations...
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Finance Minister says no rules broken with special account for signing bonus

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Guyana’s Minister of Finance, Winston Jordan, has defended the deposit of an US$18M ‘signing bonus’ into a special account at the Bank of Guyana, as ‘standard practice,’ saying “we are not breaking any rule.” Mr. Jordan defended the transaction in...
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Multi-sector stakeholder group to steer Guyana O&G sector

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The Guyana Government has embarked on the establishment of a multi-sector stakeholder committee for the oil and gas sector which it hopes will comprise members of civil society and the parliamentary parties. The announcement came as Minister with responsibility for...
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Oil price hits 30-month high after North Sea pipeline closure

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(The Guardian) The price of oil has hit a 30-month high after the owner of a major North Sea pipeline said it could be shut for as long as three weeks. The price of a barrel of Brent crude has...
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Private sector officials say making local content too prescriptive can hurt industry

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As discussions continue on the nature and type of local content mechanism Guyana should adopt in order to ensure businesses in the South American country benefit from oil and gas opportunities, some private sector officials are signaling that stringent...
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“We did pay a US$18M signing bonus” – Exxon Country Manager

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Country Manager of ExxonMobil Guyana, Rod Henson, told media representatives on Sunday evening that the company did indeed pay a US$18M signing bonus to Guyana. Mr. Henson, speaking on the sidelines of a Public Lecture on Oil Spill Response Readiness...
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Criticism mounts on Guyana Gov’t’s handling of ‘signing bonus’

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Days after Guyana’s Minister of Natural Resources, Raphael Trotman, told law makers in the country’s 65-seat National Assembly that the government did indeed receive a ‘sum’ from US oil major ExxonMobil when a new agreement was inked in 2016,...
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Transparency group accuses Guyana government of engaging in deception

OilNOW -
Transparency Institute Guyana Incorporated (TIGI) has accused the Guyana Government of deliberately engaging in deception in its handling of an advance payment from US oil major, ExxonMobil. The anti-corruption advocate’s repudiation came swiftly in wake of confirmation that the coalition...
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Staatsolie approves commercial field for Sloanea-1 gas discovery in Suriname’s Block 52

Staatsolie Maatschappij Suriname N.V. has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname....

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