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+--- Thread: Guyana OIL : news update ! (/thread-43378.html)
Guyana OIL : news update ! - ketchim - 08-01-2020
Exxon said in its latest report that they are still investing in Guyana
with four drilling rigs allocated as of the end of June
– one on exploration
and three on appraisal and project development drilling.
Guyana OIL : news update ! - ketchim - 08-01-2020
https://newsroom.gy/2020/08/01/idb-predicts-us1-1b-loss-in-oil-revenues-for-2020/
Inter-American Development Bank (IDB) :
the Bank revised the value of Guyana’s oil exports, for this year, from US$2.4B to US$1.3B
which still represents Guyana’s largest productive sector.
The IDB noted too, that for this year, government revenues are expected to grow by 12.8% and not 25.9%
The overall impact will mean that Guyana’s Gross Domestic Product (GDP) growth will be 52.8% and not 85.6%
..... as the Bank had predicted last year.
Guyana OIL : news update ! - ketchim - 08-03-2020
The Stabroek Block Production Sharing Agreement has been widely criticised, locally and internationally, for its lopsided terms.
The PSA is so poor that Global Witness found the difference between its current regime and a fair deal to be US$55B.
It has also been found to be riddled with illegalities.
Dr. Mangal, who served as Presidential Advisor on Petroleum to David Granger
recently posted comments to Facebook on the matter.
Guyana OIL : news update ! - ketchim - 08-03-2020
“The evidence is clear that the deals signed and practices conducted by the multinationals
in their operations in Guyana have not been in keeping with either best industry practice
or the best interests of the people of Guyana.” – Anthony Paul
Guyana OIL : news update ! - ketchim - 08-03-2020
Use Payara permit as bargaining chip for better oil deal –
Experts tell Guyana
Guyana OIL : news update ! - ketchim - 08-03-2020
“The Payara project should not be approved, as it will result in much more leakage of Guyana’s wealth to Exxon.”
“We need a fair contract before approving the Payara project.”
Dr. Jan Mangal had told Kaieteur News in a previous interview that oil companies tend to rush production in a ploy
to get away withn the lion’s share of the nation’s wealth. They are able to do under poor contractual terms.
“Oil companies always want to pump everything as fast as possible…
Don’t buy into the hype
…Countries [like Guyana] benefit from longer, sustained production.”
Guyana OIL : news update ! - ketchim - 08-03-2020
“If the PPP approves Payara,”
“then they are selling out the people of Guyana,
and then the PPP are giving away our wealth for peanuts,
just like the Coalition.”
Guyana OIL : news update ! - ketchim - 08-03-2020
The Stabroek Block Production Sharing Agreement (PSA)
was signed by the Janet Jagan led administration in 1999 with Exxon’s subsidiary
Esso Exploration and Production Guyana Limited (EEPGL),
and revised in 2016.
It was subsequently renewed by former Minister of Natural Resources, Raphael Trotman.
Two other companies, Hess Corporation and CNOOC/Nexen , are partners in the Stabroek Block consortium.
Guyana OIL : news update ! - ketchim - 08-05-2020
https://www.kaieteurnewsonline.com/2020/08/05/exxons-promises-false-laughable-hold-back-payara-permit-intl-lawyer/
Exxon’s promises false, laughable; hold back Payara permit
– International Lawyer
Guyana OIL : news update ! - chairman - 08-05-2020
wow