Saturday, July 2, 2022

Opinions

Guyana’s oil is an insurance policy for climate change in the Caribbean

By Wazim Mowla - OilNOW  The revenue from Guyana’s oil and gas reserves are key to tackling its and the rest of the Caribbean’s climate change challenges. Addressing the effects of climate change boils down to securing needed financing at...

Will Guyana become the next United Arab Emirates? Only time will tell

By Arthur Deakin - OilNOW  In late January, the Guyanese PPP administration introduced a U$2.6 billion budget for 2022 where it will consume 100% of the funds stored in its Sovereign Wealth Fund (SWF). By year’s end, the SWF will...

Oil bounty, energy security and Guyana future prospects

Guyana’s energy sector for 2022 will be characterized by two significant developments. Within weeks the second phase of oil production will start at the Liza Phase 2 Development with a production ramp up of approximately 220,000 barrels of oil...

Capitalising on networking opportunities

By A. Bacchus In early 2018, I was fortunate enough to attend the first oil and gas conference and exhibition that was held in Guyana. At that point in time, ExxonMobil had made about six viable discoveries, and it was...

The Natural Resource Fund Series: Part 2

Summary Guyana’s Natural Resource Fund institutional and Governance framework are in line with the IMF’s recommendation and the models adopted by some of the largest SWFs across the globe. The withdrawal rule of the fund is economically justified against...

Safety culture

By A. Bacchus Safety is a universal guiding principle in the oil and gas sector, so much so that it has become embedded in the values of all companies operating in the sector. When major industry players like ExxonMobil, Hess...

The political economy, economic & finance issues

The Natural Resource Fund Act 2021 Summary The Natural Resource Fund Act 2021 did not propose the removal of any component from the 2019 Act per se, rather, the bill seeks to replace certain components in the current act...

Will these pillars support Guyana’s oil industry?

By Dr. Lorraine Sobers - OilNOW Guyana is the steward of astounding natural resources, luscious rainforest, gold, diamond, bauxite and hydrocarbon deposits. The industries built on these natural resources all have environmental and stewardship challenges. The excitement of Guyana’s oil...

CPSO’s threat to challenge Guyana’s Local Content Act

Summary Based on the discussion and analysis contained herein, the CARICOM Private Sector Organisation (CPSO) appeared to be grossly misguided and thus its stance can be construed as being disrespectful to the Guyanese private sector and Guyana as...

Media report on oil block ‘recklessly repeats malicious distortion’, says former Guyana Prime Minister

Former Prime Minister of Guyana Samuel Hinds, now the country’s Ambassador to the USA and OAS, says a report which appeared in several sections of the media on the offshore Canje block recklessly repeats malicious distortion of the facts. Below...

Latest News

Nothing in the world more exciting to work on than Guyana’s projects – Exxon Upstream President

President of ExxonMobil Upstream Company, Liam Mallon, speaking at an event at State House in Georgetown on Thursday, said...