Guyana Oil & Gas

[Dizzy28]

Laughs in every petro state on the African continent!!!!!

Thing with that is Europeans created countries and moved borders resulting in tribalism. So we on the outside may view it as corruption but what they may in fact be doing is securing their tribes.

I'm sure you can't tell a tutsi from a hutu but Rwanda had a whole genocide and civil war between these two. Would a tutsi quicker extort a hutu whilst giving a leg up to a fellow tutsi? If a hutu police officer realises a fellow hutu did some minor traffic violation and look past it, is that corruption? Or is that some sort of gift based on cultural and racial affinity?

You can pontificate on history and ethnicity etc. all you want but of the the top 20 most corrupt countries in the world (2021) there are 12 mostly sub Saharan African and Haiti. Draw whatever conclusion you want as you have been doing prior.
https://www.transparency.org/en/cpi/2021

[dogg]

Them had Jagdeo squirming like a canal worm oui

Expose: China in Guyana

Vice journalists are simply the best.

[The_Honourable]

Good interview:

Following the remarkable discovery of extensive offshore oil fields, Guyana, a small South American nation, is poised to join the ranks of the world's wealthiest countries. However, as this newfound wealth brings hope for prosperity, there are growing apprehensions about the potential negative consequences that accompany it.

Guests:

Arthur Deakin
Director of the Energy Practice at AMI

Melinda Janki
International Lawyer

Tom Sanzillo
Director of Finance for IEEFA

[Kickstart]

Guyanese will not see this money

[bluefete]

Guyanese will not see this money

Guyana has already gotten the shritty end of the stick with the Enron agreement under their previous government.

[DMan7]

^ Exxon paps

[VII]

Exxon ain even using Vaseline,.poor Guyana..even T&T with we dying oil and gas industry pull een more than that for the same period last year..ouch..

Kaieteur News – The Stabroek Block in 2022 generated some US$9.8 billion in gross revenue, but Guyana with a 50 percent stake benefitted from a mere US$1.4 billion in profits.

This earning also includes the two percent royalty the country was paid by the operator of the Block, Esso Exploration and Production Guyana Limited (EEPGL). EEPGL is the wholly owned subsidiary of United States oil major, ExxonMobil. According to the 2022 Annual Report by ExxonMobil, some US$7.4 billion in costs were recovered by the oil company towards its investment in the petroleum activities. It also said it earned a profit share of US$0.5 billion or US$500 million last year

[MaxPower]

Guyanese will not see this money

And they never will.

[dogg]

Guyanese will not see this money

And they never will.

That's why you and other Guyanese staying in TT and hiding from immigration?

[Dizzy28]

Exxon ain even using Vaseline,.poor Guyana..even T&T with we dying oil and gas industry pull een more than that for the same period last year..ouch..

Kaieteur News – The Stabroek Block in 2022 generated some US$9.8 billion in gross revenue, but Guyana with a 50 percent stake benefitted from a mere US$1.4 billion in profits.

This earning also includes the two percent royalty the country was paid by the operator of the Block, Esso Exploration and Production Guyana Limited (EEPGL). EEPGL is the wholly owned subsidiary of United States oil major, ExxonMobil. According to the 2022 Annual Report by ExxonMobil, some US$7.4 billion in costs were recovered by the oil company towards its investment in the petroleum activities. It also said it earned a profit share of US$0.5 billion or US$500 million last year

Trinidad received US$855m in oil and gas royalties last year though
Witholding Tax received from the oil sector was US$81m
Unemployment Levy from Oil Companies was US$281M

You sure you want to laugh at Guyana?

[VII]

https://www.guardian.co.tt/business/ene ... acf2388ad8

Energy Minister: Oil and gas companies contributed $30B in revenue in 2022

Don't know where you got your figures from, nor am I laughing at anyone, just pointing out the great disparity in their deal with their much greater reserves and daily production and the fact that they signed a bad deal that they gonna have to live with ..

Exxon ain even using Vaseline,.poor Guyana..even T&T with we dying oil and gas industry pull een more than that for the same period last year..ouch..

Kaieteur News – The Stabroek Block in 2022 generated some US$9.8 billion in gross revenue, but Guyana with a 50 percent stake benefitted from a mere US$1.4 billion in profits.

This earning also includes the two percent royalty the country was paid by the operator of the Block, Esso Exploration and Production Guyana Limited (EEPGL). EEPGL is the wholly owned subsidiary of United States oil major, ExxonMobil. According to the 2022 Annual Report by ExxonMobil, some US$7.4 billion in costs were recovered by the oil company towards its investment in the petroleum activities. It also said it earned a profit share of US$0.5 billion or US$500 million last year

Trinidad received US$855m in oil and gas royalties last year though
Witholding Tax received from the oil sector was US$81m
Unemployment Levy from Oil Companies was US$281M

You sure you want to laugh at Guyana?

[Dizzy28]

^ My figures came from the Annual Economic Survey 2022 of the CBTT, page 77
https://www.central-bank.org.tt/sites/d ... 230515.pdf

Stuart Young is referring to total revenue and the Guyana context speaks only to gross revenue

Also the majority of our revenues do not come from Petroleum so its not really a fair comparison

[VII]

My point is I don't think Guyana is leveraging or is capable of leveraging their windfall effectively, and that money is peanuts for the the amount of hype and numbers that have been circulating, seems like a smash and grab to me and they're facilitating it..and in the end only Guyana will be the loser.

I know our record hasn't been the best, but it hasn't been the worst either, many considerations were made in the early stages of our booms which to this day continue to keep our economy vibrant and dynamic despite the slump


Let's see how it pans out going forward..but it's now or never, they won't get any second chances..

[pugboy]

who else contractor sons going to marrid a nice guyanese girl?

[Dizzy28]

My point is I don't think Guyana is leveraging or is capable of leveraging their windfall, and that money is peanuts for the the amount of hype and numbers that have been circulating, seems like a smash and grab to me and they're facilitating it..and in the end only Guyana will be the loser, I know our record hasn't been the best, but it hasn't been the worst either, many considerations were made in the early stages of our booms which to this day continue to keep our economy vibrant and dynamic despite the slump


Let's see how it pans out going forward..but it's now or never, they won't get any second chances..

Trinidad's management of its windfall is subjective - Not the worst is not really a good place to be. The country certainly does not look or operate like one that has seen the vast amounts of money passing through it.

After the 1st oil boom a commission of enquiry in 1982 said we lost $2 of every $3 dollars generated from our oil windfall.

Guyana would need to do really badly to do worse than us.

[Chimera]

My point is I don't think Guyana is leveraging or is capable of leveraging their windfall effectively, and that money is peanuts for the the amount of hype and numbers that have been circulating, seems like a smash and grab to me and they're facilitating it..and in the end only Guyana will be the loser..

the president there is trying his best....there will always be corruption but the ministers there are taking a hard line approach when they catch you in flabbergastery.

i saw some videos where the minister of roads or works or whatever roughing up a contractor on tv on a road he get the contract to do because it wasn't finished in time and he promise him that as long as he in government that contractor will never get a contract again

he doing ALOT to prop up guyana's different industries moving forward

from importing milking cows from brasil so they can cut down their milk import bill
heavily pushing the the coconut industry and easing the way for exports
forcing foreign companies to have a certain percentage of guyanese ownership/workers.

[pugboy]

how are they going to motivate their population to work though ?
avoiding a gimme gimme attitude of the masses is usually a large problem, apart from govt tiefing most of the money

[Chimera]

if they don't want to work then trinis,jamaicans, venezuelans, cubans, brazilians and more will take up the slack.

[pugboy]

yeah but they(guyanase) still need to see money in their pockets to live
of course there will be some level of urp/cepep handouts to keep the votes tight

if they don't want to work then trinis,jamaicans, venezuelans, cubans, brazilians and more will take up the slack.

[MaxPower]

yeah but they(guyanase) still need to see money in their pockets to live
of course there will be some level of urp/cepep handouts to keep the votes tight

if they don't want to work then trinis,jamaicans, venezuelans, cubans, brazilians and more will take up the slack.

pug,

Guyanese could see all they want but they will get little to nothing and sold dreams for the rest of their lives.

Trinis dotish the same way and love accepting sheit upon sheit. It’s a culture thing.

[pugboy]

correct,
the methods to train dogs using lil food enticements hasnt changed from the beginning of time
humans no different, if anything worser civilized than dogs

[The_Honourable]

Ok so i saw pnm social media in their glee just by the headlines alone, so let's post the whole article and analyse:

Jagdeo: Guyana has other plans for its gas

...Grenada, Suriname not near-term solutions, says Seepersad-Bachan


Prime Minister of Grenada Dickon Mitchell is open to Prime Minister Kamla Persad-Bissessar’s announcement that T&T intends to deepen and strengthen the cooperation between the two countries in hydrocarbon exploration and development.

Guyana’s Vice President, Dr. Bharrat Jagdeo, said he will repeat what was said before this country’s general election last month that, right now, from their gas to energy project, there is no gas to supply to anyone, but he is willing to meet with the government.

Persad-Bissessar instructed Energy Minister Dr Roodal Moonilal to seek out new sources of oil and gas for the country from Grenada, Guyana, and Suriname.

Last Thursday, during a post-Cabinet news conference, the Prime Minister said the government wants to pursue the Grenada gas initiative to ensure resources within the region are optimally developed for the benefit of T&T and the region.

She also spoke about the establishment of a solar photovoltaic power plant in Suriname by T&T’s National Energy and the feasibility assessment of a cross-border subsea pipeline from Trinidad to Suriname by way of the National Gas Company (NGC). National Energy is a subsidiary of NGC.

Responding to questions from the Sunday Business Guardian, Prime Minister Mitchell said his government has always been of the view that Grenada stands to benefit from cooperation with T&T in this field.

“We also recognise that in the present international economic environment, Trinidad too, stands to benefit from cooperation with Grenada in this field. The Prime Minister has indicated that she intends to send her Minister of Energy to Grenada soon to hold talks with us. We are eagerly looking forward to his visit,” said Mitchell.

At a news conference last Thursday, Guyana’s Vice President, Dr. Bharrat Jagdeo, when asked by a reporter to respond to the PM’s statement on doing energy business with Guyana, explained in detail what the plans are for his country’s gas reserves.

“We need all of the gas there for our electricity generation and the fertiliser plant, that there is a project that we have not approved as yet that is being explored between Fulcrum LNG and ExxonMobil and the Government of Guyana to develop the gas reserves. They’re exploring several options as to what to do with this gas. One it’s to do LNG and export LNG.”

“Two could be to bring the gas on shore for generation of power, just to sell to Brazil. Three, to bring the gas on shore for industrialisation in Guyana, or a combination of all three, if there is adequate gas. I said if T&T is interested, then the tripartite arrangement, ExxonMobil, Fulcrum LNG and the Government of Guyana would have to examine whether taking the gas to T&T outweighs those other options in terms of financial feasibility,” Jagdeo disclosed.

Last week, Dr Moonilal told Sunday Business Guardian that, based on reports he received from the energy stakeholders, he would make direct contact with his counterparts at the Ministries of Energy or Mineral Resources, as the case may be, in the three territories of Grenada, Guyana, and Suriname.

Speaking about Grenada, Moonilal said, “We are aware that the project ran into some trouble several years ago, but T&T is in a position where surely, we can assist given the great interest we have in doing business in the gas-based industries and the closeness of Grenada to us both physically and from a Caricom partner perspective,” the minister outlined.

Whether it’s feasible

Former Energy Minister Carolyn Seepersad-Bachan said, in 2012, the US Geological Survey highlighted the Caribbean’s hydrocarbon potential—from the North Cuba Basin to the Guyana-Suriname Basin—drawing increased international investment interest. However, she said not all identified hydrocarbon deposits are technically or commercially viable.

In anticipation of shared reserves, Seepersad-Bachan said Grenada and T&T signed a maritime boundary delimitation treaty in 2010 over the Tobago Trough.

She said a framework agreement for energy cooperation followed, initiated by discussions between both then prime ministers.

“Yet, as of May 2025, no cross-border hydrocarbon fields or unitisation agreements exist between the countries.”

Seepersad-Bachan outlined that Grenada has since pursued offshore hydrocarbon development through production sharing contracts (PSCs) and exploration licences with international firms, including Global Petroleum Group and Oceangate Oil and Gas Engineering.

“While the 2017 Nutmeg-2 well showed early signs of hydrocarbons, it was plugged without testing, and no reservoirs have yet been defined as commercially viable. Limited data access and ongoing contract reviews have stalled any transition to development. As such, Grenada cannot be viewed as a near-term solution to T&T’s gas supply shortfall,” she detailed.

In Suriname, the energy expert said there are promising gas finds in Blocks 52 and 58 that are under appraisal, with the earliest production expected by 2031.

“Floating LNG and joint gas development with Guyana—whose eastern Stabroek Block borders Suriname’s discoveries—are being explored. Exporting gas to Trinidad is technically feasible, but subsea pipeline infrastructure would be cost-prohibitive. Gas-based petrochemicals from Trinidad may struggle to compete with US products given new U.S. tariffs and rising domestic production,” she added.

Explore opportunities

Economist Dr Ronald Ramkissoon said it is useful to explore possibilities in both areas of fossil fuels, natural gas and crude oil, as well as in areas like solar and alternative sources of energy.

“I think in the short term, as well as in the medium to long term, it is useful at this point to explore whatever avenues there are, because we do need natural gas to help with the increased production of petrochemicals.”

Delving further into the topic, Ramkissoon does not believe that the government should rule out the possibilities that might still lie with Venezuela.

“I think we have to learn how to manage the geopolitics in a way that we can benefit from wherever the resources are, whether that be natural resources or whether that be foreign direct investment. We need to be very strategic in the way we think about the interests of T&T,” he added.

At her swearing in on May 1, Prime Minister Persad Bissessar said that the Dragon gas deal was dead, following the revocation of this country’s OFAC licence.

In a rebuttal, former Prime Minister and Energy Minister Stuart Young said the Dragon deal has decades left to dance.

Young said, “Understand that when you immediately say the Dragon is dead, what are you telling Shell? I am certain that in the boardrooms today, in London and Houston, there is a deep analysis going on. Everything that you say as a country leader is not for domestic politics alone, and that is a simple caution.”

“It is very irresponsible for any government governing Trinidad and Tobago, wanting what is best for Trinidad and Tobago, without even looking at the documentation that exists to immediately declare it dead. The truth is we have a 30-year licence with Venezuela,” he added.

https://www.guardian.co.tt/business/jag ... 020187f247

[The_Honourable]

So after reading the article,

1. Pnm social media focused solely on what Guyana's VP Bharrat Jagdeo said and totally ignored what the Prime Minister of Grenada Dickon Mitchell said.

2. PM of Grenada welcomes and is eager to have energy talks with T&T as he sees both countries benefitting from a partnership.

3. VP of Guyana did not totally shut down the idea of gas being processed in T&T. He simply said that it is one of four options that has to be explored by the private sector and not the government. When all the feasibility analysis is done and it is determined that processing gas in T&T is worthwhile, more talks can happen.

4. Grenada and Guyana gas is long term, so we still have to address shot to medium term.

There is nothing wrong with Kamla having talks with Grenada, Guyana and Suriname. It seems that she might have better luck with Grenada where with Guyana, she has to hope the private sectors sees T&T as the better financial option to process gas. Suriname seems promising but more talks need to happen.

Pnm could bawl DRAGON GYAS... DRAGON GYAS... DRAGON GYAS all they want. Until the geopolitical situation between Venezuela and the United States improves, as Kamla rightfully said the Dragon Deal is dead.

[one eye]

Exxon, Fulcrum and Guyana's government would most likely stray away from supplying gas to Trinidad.

Our energy minister's track record would deter Guyana from initiating trade agreements.

Celebrate more that the dragon gas deal is done.

[zoom rader]

Exxon, Fulcrum and Guyana's government would most likely stray away from supplying gas to Trinidad.

Our energy minister's track record would deter Guyana from initiating trade agreements.

Celebrate more that the dragon gas deal is done.

Eh No

Read the article over again.

[one eye]

Exxon PSA with Guyana is crazy.

You think Exxon wants to deal with a mature energy sector like Trinidad?

Exxon been here done that.

[matr1x]

Eh eh. One eye back. I see the cpep money running low

[hover11]

One eye how much they paying you?

[The_Honourable]

Exxon PSA with Guyana is crazy.

You think Exxon wants to deal with a mature energy sector like Trinidad?

Exxon been here done that.

If after their assessment, it is feasible and profitable to process gas in Trinidad, why not?

Isn't that a good for T&T?

[Dizzy28]

One eye how much they paying you?

A second eye