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Dear Editor, The time has come for us to raze BPL. Your standard dictionary defines the word “raze” as a verb, when means, “to demolish, destroy,...

Breakneck speed of oil and gas sector preventing Guyanese from enjoying real benefits of Local Content- Chris Ram Oct 02, 2024 News …says revision of areas carved out for citizens long overdue Kaieteur News- Guyana has been on a race against time to fast track the development of oil and gas as the global push for a transition to cleaner energy by 2030 continues to gain momentum. After accepting a bad oil deal in 2016, which politicians often describe as the world’s worst oil contract, the government not only refuses to seek better terms but have implemented a new Law to claw back resources for citizens. In 2021, the government passed a Local Content Law to ensure oil companies and their contractors utilize services offered by Guyanese and even employ more locals to satisfy the labour demands. However, with the petroleum sector developing at a massive pace, Guyanese are unable to enjoy the real benefits of local content. Attorney-at-Law and Chartered Accountant, Christopher Ram in recent comments during an episode of ‘Oil Talk’ on Kaieteur Radio (99.1/ 99.5 FM) made this point. Article 13 member, Chartered Accountant and Attorney-at-Law, Christopher Ram The Lawyer told listeners and viewers of the broadcast, “Part of our problem is that we have tried to move too fast. We have moved from zero to 100 in a couple years. We don’t have the capacity so we can’t have real local content.” Ram pointed out that the Local Content Act sets out 40 areas for Guyanese to benefit from. He said this was a mere fraction given that there are about 300 to 500 types of expenditure incurred by the oil companies and sub-contractors. He said, “Only for 40 (areas) and some of them they range from 100% like for cleaners which is no big deal, Guyanese are good cleaners apparently but we can’t do the higher things.” With Guyanese being paid to do minor jobs, receiving meager salaries, the Lawyer noted that the respective percentages for the 40 areas should have been changed within a year. On the other hand, he said, “The schedule to the Local Content Act has remained unchanged. We have not taken account of experience and how it has worked compared with what we thought it should be.” Ram was keen to note that while the Vice President, Bharrat Jagdeo is on record indicating that government has sought to “rebalance” the lopsided contract through the implementation of the Local Content Act, this was simply impossible. He argued, “Of course not and you don’t rebalance a lopsided contract by finding some extraneous means. You rebalance it by renegotiating the offensive portions of the contract and that is what our government and our political opposition have refused to do. They don’t want to hear the word renegotiation. The contract provides you can modify and amend.” Guyana presently has three Floating Production Storage and Offloading (FPSO) vessels in operation, producing close to 700,000 barrels per day. The first project, Liza One came online in December 2019, followed by Liza Two in February 2022. The third project, Payara, swiftly followed suit, with first oil recorded in November 2023. Exxon has received awards for its rapid development of oil projects in Guyana. In April 2023, during the Offshore Technology Conference (OTC), the company was recognized for their innovative work that has resulted in Liza Phase 1 being one of the fastest projects of its type in the industry, cycling from discovery to production in less than five years, compared to the historical 10-year timeline for projects of this magnitude. It was added that Liza Phase 2 then came online about two years after Liza Phase 1 and within eight years of discovery— helping to responsibly meet the world’s energy needs at a critical time. Back in February 2023, President of ExxonMobil’s Upstream Company, Liam Mallon had boasted about the breakneck speed with which ExxonMobil Guyana was able to cut the time in half to move from exploration to production in a deepwater project. He underscored that since the first discovery in 2015, the estimate of Guyana’s resource has grown to nearly 11 billion barrels, which makes it the largest in industry in the past decade.  “In total we’ve made more than 30 discoveries, and we’re still exploring Guyana’s vast potential,” Mallon added. Mallon continued, “And really critically, we moved from the very first Liza 1 exploration well to first production nearly three years ago in under five years. That is roughly half the industry average time for a typical deep water development.” Notably, Mallon stated too that in total, the oil major anticipates having six projects online with a capacity of more than 1.2 million barrels per day by the end of 2027. Related Similar Articles

ExxonMobil flared almost half a million cubic feet of gas in August Oct 02, 2024 News Kaieteur News- The oil and gas operations in Guyana have been attracting environmental concerns, especially as temperatures continue to rise, creating suspicions that two may be linked. While there are no reports that demonstrate a link between the two, some stakeholders believe that petroleum production in the Stabroek Block is driving up temperatures. From the dumping of produced water to flaring o ExxonMobil flaring at the Liza Destiny f natural gas, concerns about the company’s operations have been widespread. Flaring is the burning of gas that is produced during the extraction of oil operations. During this process, harmful emissions are released into the environment, including methane which is 28 times as damaging as carbon dioxide (according to the US EPA)- another contributor to climate change. The Ministry of Natural Resources on its Data Management website indicated that a total of 493,039 kscf (thousand standard cubic feet) of gas in August. Data for September has not yet been published on the site. Kaieteur News understands that the gas flared relates to all three of the Floating Production Storage and Offloading (FPSO) vessels operating in the Stabroek Block. ExxonMobil is required to seek authorization from the Environmental Protection Agency (EPA) prior to any flaring activity that is not related to commissioning, start-up or special circumstances such as emergencies and maintenance. The Permits make it clear that routine flaring and venting is strictly prohibited. Exxon will be required to pay US$50 per tonne of carbon dioxide equivalents (CO2e) emitted as a result of flaring in excess of the periods approved for flaring. Guyanese scholar, Dr. Ulric Trotz however cautioned that fining the company for flaring will not compensate for damage to the environment. He argued, “This whole question basically of flaring, the idea of putting a monetary penalty on flaring doesn’t compensate for the damage that it does to the environment.” It was revealed that for 2022, ExxonMobil paid US$9 million to the EPA to flare excess gas at its offshore operations. Several requests were made for the figure paid over to the regulator for 2023 but this has not been shared with the public. Related Similar Articles

Lights go out at Guyana National Stadium during crucial CPL eliminator match Oct 02, 2024 Sports Lights out! Power failure to three light towers forced a three-hour delay to the to the CPL Eliminator between the Trinbago Knight Riders and the Barbados Royals (Rawle Toney photo) Kaieteur Sports – In what has been described as a global embarrassment, a power outage affecting three light towers forced an unfortunate end to the Caribbean Premier League’s (CPL) eliminator match between the Trinbago Knight Riders and Barbados Royals at the Guyana National Stadium. While there have been has power outages in the past during CPL matches, at venues like Queen’s Park Oval (Trinidad and Tobago), Warner Park (St Kitts and Nevis), and Sabina Park (Jamaica), this incident marked the first time such an issue occurred at a critical stage of the tournament. President Irfaan Ali was present at the venue during the nearly three-hour delay. Related Similar Articles

Iran launches missile attack against Israel Oct 02, 2024 News Israel’s Iron Dome anti-missile system intercepts rockets, as seen from Ashkelon [Amir Cohen/Reuters] Iran’s IRGC says tens of missiles fired in retaliaition for the killing of Hezbollah, Hamas and IRGC officials. Aljazeera– Iran has launched a barrage of missiles at Israel in response to the killing of senior Hezbollah and Hamas officials, sending Israelis rushing to bomb shelters and raising fears of all-out war in the region. Alarms sounded across Israel and explosions could be heard in Jerusalem and Tel Aviv after Israelis piled into bomb shelters late on Tuesday. Israeli military spokesman Daniel Hagari said there were no reports of casualties from Tuesday’s attack, and that the army does not see “any more threats in our airspace”. He said in a video message that people in Israel were safe to leave shelters. Israel’s emergency services said at least two people sustained light injuries “from shrapnel in the Tel Aviv area”. Iran’s Islamic Revolutionary Guards Corps (IRGC) said the missile attack on Israel was a response to the killing of Hezbollah chief Hassan Nasrallah last week, as well as that of the Hamas leader Ismail Haniyeh earlier this year, Iran’s Fars news agency reported. “In response to the martyrdom of Ismail Haniyeh, Hassan Nasrallah and [IRGC Guards commander] Nilforoshan, we targeted the heart of the occupied territories,” the IRGC said in a statement. It said Iran had launched tens of missiles at Israel, and that if Israel retaliated, Tehran’s response would be “more crushing and ruinous”. Iran’s state television said 80 percent of the missiles launched at Israel hit their targets. The Israel military meanwhile, said a “large number” of missiles had been intercepted. Speaking to reporters, Hagari said the attack was serious and will have consequences “in a timely manner”. A senior Iranian official told the Reuters news agency that the order to launch missiles at Israel was made by the country’s Supreme Leader Ayatollah Ali Khamenei. Khamenei remains in a secure location, the senior official added. ‘We absolutely need a ceasefire’ The United States said its forces were ready to provide “additional defensive support” to Israel after helping protect it from the Iranian missile attack. “Our forces remain postured to provide additional defensive support and to protect US forces operating in the region” after “defending against Iranian-launched missiles targeting Israel,” a US defence official said on condition of anonymity. Iranian-backed Iraqi armed groups meanwhile said US bases in Iraq and the region will be targets if the US joins any response to Iranian strikes on Israel or if Israel uses Iraqi airspace against Tehran. The firing of missiles came after Israeli troops launched a ground raids into Lebanon, in the biggest escalation of regional warfare since fighting erupted in Gaza last October. Al Jazeera’s Dorsa Jabari, reporting from the Lebanese capital Beirut, said some people there were celebrating Iran’s missile attack. “We’ve heard over the last 20 minutes Iran’s unprecedented attack on Israel. Non-stop gunfire and fireworks being set off across the capital,” Jabari said. In neighbouring Jordan, the civil aviation authority said air traffic was temporarily suspended following the attack. The country’s Public Security Directorate said its air defences intercepted missiles and drones. “The Royal Jordanian Air Force and air defence systems responded to a number of missiles and drones that entered Jordanian airspace,” a statement said. UN Secretary-General Antonio Guterres condemned the “broadening conflict in the Middle East”. Slamming “escalation after escalation” in the region, Guterres said in a statement: “This must stop. We absolutely need a ceasefire.” Related Similar Articles

ExxonMobil among 27 companies vying to market Guyana’s oil Oct 02, 2024 News Kaieteur  News- Oil giant ExxonMobil and lone Guyanese company – Sispro Inc. are among 27 firms that tendered to provide marketing services for Guyana’s oil from the Liza Destiny, Liza Unity and Payara Prosperity Floating Production Storage and Offloading (FPSO) vessels. The project which is being executed through the Ministry of Natural Resources was opened on Tuesday at the National Procurement and Tender Administration Board (NPTAB) office. According to an advertisement issued by the ministry previously, the bidders were bidding in lots and these lots include Lot 1 – Liza Destiny FPSO Vessel, Lot 2 – Liza Unity FPSO Vessel, Lot 3 – Payara Prosperity FPSO Vessel, Lot 4 – Any two (2) Lots combined and Lot 5 – Combined Lots 1, 2 and 3. It should be noted that on Tuesday, only the names of the bidders and their origins were read by NPTAB, no disclosure on which lot the companies applied for. Majority of the companies that applied are from Switzerland and other companies including Nigeria, USA, and the United Kingdom (UK), Of the 27 major oil players who bid to market the country’s crude are as follow: Equinor (Norway); Trafigura Pte Limited (Singapore); Oando Plc (Nigeria); Mercuria Energy Trading SA (Switzerland); BP Oil International Limited (UK); BK Holdings Limited (UK); ExxonMobil Sales & Supplies LLC (USA); Petraco Oil Company Limited (Guernsey); Shell Western Supply and Trading Limited (The Bahamas); ADNOC Trading Limited Ltd. (United Arab Emirates); TotalEnergies Trading SA (Switzerland); Chevron Products Company (USA); BB Energy Trading Limited (London);  Cathay Petroleum International Limited (Hong Kong);  APIOIL UK Limited (London); Gunvor SA (Switzerland); Glencore Energy UK Limited (England); Vitol SA (Switzerland);  SOCAR Trading SA (Switzerland); Springfield Energy Limited (Switzerland); Bono Energy Limited (Nigeria); CNOOC Trading (Singapore) Pte. Limited; ENI Trading & Shipping Inc. (USA); PetroChina International (America) Inc. (USA); JE Energy Limited (London);  Unitec America Inc. (USA); and Sispro Inc. (Guyana). Kaieteur News reported that two United Kingdom companies are marketing Guyana’s oil share. The Liza Unity FPSO Minister of Natural Resources, Vickram Bharrat had revealed that UK Company, JE Energy is the marketer of oil coming from the Liza-1 platform which uses the Liza Destiny FPSO, while BB Energy is the marketer for oil from the Liza-2 and Payara platforms which use the Liza Unity and Liza Prosperity FPSOs, respectively. According to the minister, the contract stipulates that neither of the companies charge government for the marketing and will instead pay, in the case of BB Energy Limited, US 26 cents on every barrel it sells. JE Energy plans to pay some US 70 cents on each barrel of crude it markets. The Liza Destiny FPSO is currently producing over 150,000 barrels of oil per day (bpd), up by 30,000 after debottlenecking, a process of optimizing capacity. Its storage capacity is 1.6 million barrels. As for the Liza Unity FPSO, it is also producing 30,000 more barrels than had been announced as it moved from 220,000 bpd to 250,000 bpd after the same optimising process. Its storage capacity is some two million barrels. Related Similar Articles