Jan 12, 2025
The additional claim filed against the government by gas-to-energy (GtE) contractors CH4-Lindsayca is around the US$50m amount of the first claim and will bring the total sum to nearly US$100m. This claim is also tied to soil stability and site accessibility works, Country Manager of the company Humberto Lopez said on Friday. “Right now we...
Jan 12, 2025
Kaieteur News– More than a dozen Guyanese and two organizations have requested the United States Export Import (US EXIM) Bank to share documents relating to the Gas-to-Energy (GTE) project it has provided a US$527M loan to support. In a statement to the media on Friday, the citizens, Elizabeth Deane-Hughes, Danuta Radzik, Alfred Bhulai, Vincent Adams,...
Jan 12, 2025
Kaieteur News– More than a dozen Guyanese and two organizations have requested the United States Export Import (US EXIM) Bank to share documents relating to the Gas-to-Energy (GTE) project it has provided a US$527M loan to support. In a statement to the media on Friday, the citizens, Elizabeth Deane-Hughes, Danuta Radzik, Alfred Bhulai, Vincent Adams,...
Dec 30, 2024
On December 26th the Board of Directors at the Export-Import Bank of the United States (EXIM) approved US$527m to the Ministry of Finance to support the government’s ambitious gas-to-energy project that aims to strengthen energy security and lower the cost of electricity to consumers. According to the EXIM release, the financing from the transaction will...
Dec 30, 2024
Kaieteur News- On May 1, 2031, Guyana will commence repaying the United States Export Import (US EXIM) Bank for a US$527 million loan the institution approved on December 26, 2024. Over the 15-year repayment period, Guyana will pay the bank a whopping US$316.2M in interest. This means the country will be paying the Bank a...
Dec 30, 2024
Kaieteur News- ExxonMobil is confident it will capture all remaining opportunities in the Stabroek Block offshore Guyana before its exploration license expires in October 2027. This is according to Liam Mallon, President of ExxonMobil Upstream Company. There are over 30 significant discoveries made by Exxon in the Stabroek Block since 2015. Currently, oil is being...
Dec 20, 2024
It was hardly surprising that the fifth year of oil production evoked barely disguised triumphalist declarations by ExxonMobil Guyana. After all, the US oil major is laughing all the way to the bank and envisages decades more of this great carrying away of the national patrimony while the PPP/C government watches on disinterestedly and in...
Dec 15, 2024
Kaieteur News – International award-winning lawyer, Melinda Janki, has warned the United States Export Import (US EXIM) Bank that approving Guyana’s application for a loan to support the Gas-to-Energy (GTE) Project exposes the financial institution to political, financial and litigation risks. In a submission to the Bank, dated December 6, 2024, Janki lobbied the Board...
Dec 08, 2024
Kaieteur News- Although Guyana is paying for the assets being used in the offshore production of oil in the Stabroek Block through the cost recovery mechanism, this does not make the country a part owner of the assets. This therefore means that in the event of an oil spill occurs as a result of the...
Oct 13, 2024
Kaieteur News – ExxonMobil Guyana Limited (EMGL), the operator of the oil-rich Stabroek Block and its Co-Venturers, Hess Guyana Exploration Ltd and CNOOC Petroleum Guyana Limited have deducted just over $60B to date for decommissioning activities. The monies have been set aside in a fund which is controlled by the partners according to President and...