Kaieteur News – ExxonMobil Corporation’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL) disclosed yesterday that two discoveries were recorded at the Sailfin-1 and Yarrow-1 wells in the Stabroek block, adding to its already extensive portfolio of development opportunities. EEPGL said the Sailfin-1 well encountered approximately 312 feet (95 meters) of hydrocarbon-bearing sandstone and was...

– company to sell 9 million barrels from Stabroek Block by December Kaieteur News – American oil explorer and producer, Hess Corporation, reported yesterday that it earned a net income of US$515 million, or US$1.67 per common share, in the third quarter of 2022. This is a significant increase when compared with a net income...

OIL SERIES PT 9 By Kiana Wilburg Kaieteur News – According to Guyana’s Local Content Legislation, officials attached to the Local Content Secretariat or a representative of that body can have unrestricted access to a contractor, subcontractor or licensee’s facilities, records, reports, documents, data, and information. Such access is allowed for the purposes of monitoring,...

…challenges Jagdeo, economists to prove otherwise By Davina Bagot Kaieteur News – An engineer with over 50 years of expertise is challenging Vice President Bharrat Jagdeo’s figures as it relates to the cost to generate electricity via the US$2 billion Wales gas-to-energy (GTE) project. In the absence of any new feasibility studies for the venture...

– it has the opportunity to be a champion of the people instead of a shield for oil giant – New York-based lawyer By Kiana Wilburg Kaieteur News – Multinational Corporations (MNCs) are well known for using all their legal and technical powers to extract unfair and unconscionable contract terms, especially from developing countries. While...

Kaieteur News – There should be a meeting of all the groups and individuals opposed to the oil deal. An alliance should be formed with two objectives, one long-term and one short-term. The short-term objective should be to prevent the impending auctions of oil blocks. Legal advice should be sought and legal action taken to...

– Opposition says it will use all avenues to access new document By Zena Henry Kaieteur News – Given the raging debates regarding the lopsided Production Sharing Agreement (PSA) that Guyana currently has with ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited (EEPGL) and partners, it was thought that the Government would have by now...

…‘Article 13’ cites Clyde & Co report findings Kaieteur News – “The fact that since 2016 the volume of oil being borne out of the same agreement that envisaged a fraction of what is expected production is itself a call for renegotiation. If only the Government cared more about Guyana than its retention of power,”...

“Simply put, sanctity of contract means, an agreement made freely, knowingly, put fairly by competent parties, must be kept” By Kiana Wilburg Kaieteur News – Though the 2016 Stabroek Block Production Sharing Agreement (PSA) has been heavily criticized for having a gross number of fiscal weaknesses, the PPP/C administration has maintained that no renegotiation will...