The next oil power? Guyana

WRITER: NEW YORK TIMES, 14 Jan 2017 at 15:45, http://www.bangkokpost.com/new...ext-oil-power-guyana

Guyana, the tiny English-speaking South American country, is poised to become the next big oil producer in the Western Hemisphere, attracting the attention and investment dollars of some of the biggest oil companies in the world.

This week, ExxonMobil and Hess announced the successful drilling of a deep-water exploration well that may soon confirm that the seafloor beneath Guyana’s coastal waters contains one of the richest oil and natural gas discoveries in decades. Experts estimate that one of its offshore fields, known as Liza, could contain 1.4 billion barrels of oil mixed with natural gas, comparable to some of the larger fields drilled in South America.

With a population of fewer than 1 million people, Guyana — Venezuela’s eastern neighbour on the continent’s north coast — would be able to export nearly all of the oil it produced, probably starting around 2020.

The companies’ announcements came only days after the Guyanese government announced its intention to build a $500-million petroleum processing and service centre on Crab Island, an enormous investment for one of the region’s poorest countries.

Early rough estimates by experts of how much recoverable oil Guyana could have range to more than 4 billion barrels, which at today’s prices would be worth more than $200 billion. But the country, which currently produces little energy, sorely needs pipelines and other infrastructure to begin a major production and export effort.

“It’s not often that a country goes from zero to 60 so fast like this,” said Matt Blomerth, head of Latin American upstream research for Wood Mackenzie, an energy consultancy.

Industry excitement over Guyana was stirred by a widely distributed report on Friday by the firm that said: “Guyana is rapidly joining the ranks of serious oil and gas players.”

The discovery is one more indication that South America is becoming a critical supplier to world oil markets. Brazil and Colombia are already major producers, and Argentina took a big step in the same direction this week when Chevron and several other international oil companies pledged to invest at least $5 billion this year and billions more in the years to come in the shale field in Patagonia known as Vaca Muerta, or Dead Cow.

Neither ExxonMobil nor Hess would estimate how much oil was found in a field called Payara, a few kilometres from the well drilled by Exxon Mobil in the Liza field. More tests are to be done.

The Payara field is part of a block of 6.6 million acres that ExxonMobil is exploring with Hess Guyana Exploration and CNOOC Nexen Petroleum Guyana, a Chinese-owned company.

“This important discovery further establishes the area as a significant exploration province,” Steve Greenlee, president of ExxonMobil Exploration Co, said in a statement.

Hess chief executive John Hess said: “We believe that the resources recently discovered are significant.”

With ExxonMobil’s global fields ageing and its new interests in Russia frozen by US sanctions, the discoveries in Guyana have the potential to add significant reserves to the company’s holdings.

Rex Tillerson, the former ExxonMobil chief executive, was scheduled to travel to Guyana to meet with its president, David Granger, but the trip was cancelled when Tillerson was nominated to become secretary of state under Donald Trump.

The US State Department has been trying to prepare Guyana for its potential oil rush with a programme that advises the government on environmental regulations, financial arrangements and other forms of oversight.

Environmentalists have cautioned that involvement with the Guyana project would create a conflict of interest for Tillerson should he be confirmed by the Senate. Tillerson has said that if he is confirmed, he would recuse himself from any decision that might affect ExxonMobil for one year and to consult with ethics officers at the State Department after that.

The next oil power? Guyana

WRITER: NEW YORK TIMES, 14 Jan 2017 at 15:45, http://www.bangkokpost.com/new...ext-oil-power-guyana

With a population of fewer than 1 million people, Guyana — Venezuela’s eastern neighbour on the continent’s north coast — would be able to export nearly all of the oil it produced, probably starting around 2020.

The companies’ announcements came only days after the Guyanese government announced its intention to build a $500-million petroleum processing and service centre on Crab Island, an enormous investment for one of the region’s poorest countries.

Interesting to see progress for the Amaila hydropower developments

Guyana could be the next oil power in the next decade that may come with a price for the big players. Power and wealth will be the focal point on Guyana in the future. Could be the the reason why American sees fit to installed another dictator in power and unseat a legitimate ruler. 

With only a twelve percent royalty, it would seems that the Coalition Government of Guyana has nothing to offer its citizens of oil Royalty, as it would seems that twelve percent will not be enough for those crooks to thief.

Demerara_Guy posted:

 

Interesting to see progress for the Amaila hydropower developments

DG,

Natural Gas will flow,hence they can have gas powered electricity plants.

no long transmission lines from source to consumers.

asj posted:

With only a twelve percent royalty, it would seems that the Coalition Government of Guyana has nothing to offer its citizens of oil Royalty, as it would seems that twelve percent will not be enough for those crooks to thief.

What kind of doom and gloom you deh pun,

let Guyana progress i am happy for the 750,000 people.

by the way who sign the 12% deal???

Prince posted:

Guyana could be the next oil power in the next decade that may come with a price for the big players. Power and wealth will be the focal point on Guyana in the future. Could be the the reason why American sees fit to installed another dictator in power and unseat a legitimate ruler. 

The PPP "coolie party" lost twice,no conspiracy,accept and move along.

Yeah bhai,East Indians which is 39.83% [2012 Census] of population have that entitlement.

Prince posted:

Guyana could be the next oil power in the next decade that may come with a price for the big players. Power and wealth will be the focal point on Guyana in the future. Could be the the reason why American sees fit to installed another dictator in power and unseat a legitimate ruler. 

let's assume you are right for discussion sake

Why would the US prefer the PNC over the PPP?

Django posted:

asj posted:

With only a twelve percent royalty, it would seems that the Coalition Government of Guyana has nothing to offer its citizens of oil Royalty, as it would seems that twelve percent will not be enough for those crooks to thief.

What kind of doom and gloom you deh pun,

let Guyana progress i am happy for the 750,000 people.

by the way who sign the 12% deal???

Doom and Gloom?? Are you that much uneducated, simply stupid, lack basic knowledge/common sense or ALL OF THE ABOVE???

Any Lil Pickney know the PNC has , is and will continue to STEAL and Pillage the guyanese Treasury and for you not to know this speaks volume of the depth of your lack of intelligence and basic common sense!!!

Nehru posted:

Django posted:

asj posted:

With only a twelve percent royalty, it would seems that the Coalition Government of Guyana has nothing to offer its citizens of oil Royalty, as it would seems that twelve percent will not be enough for those crooks to thief.

What kind of doom and gloom you deh pun,

let Guyana progress i am happy for the 750,000 people.

by the way who sign the 12% deal???

Doom and Gloom?? Are you that much uneducated, simply stupid, lack basic knowledge/common sense or ALL OF THE ABOVE???

Any Lil Pickney know the PNC has , is and will continue to STEAL and Pillage the guyanese Treasury and for you not to know this speaks volume of the depth of your lack of intelligence and basic common sense!!!

Well unfortunately i don't think like you,suh them category is pointing towards you.

name all the Burhnham boys who stole ??

to begin with how a run down down country [under Burnham] will have money to thief,

eh where the $$ come from,who you talking to.

RiffRaff posted:

Prince posted:

Guyana could be the next oil power in the next decade that may come with a price for the big players. Power and wealth will be the focal point on Guyana in the future. Could be the the reason why American sees fit to installed another dictator in power and unseat a legitimate ruler. 

let's assume you are right for discussion sake

Why would the US prefer the PNC over the PPP?

The USA didn't like Jagdeo, and they couldn't tell Jagdeo who his friends should be. Jagdeo visited Iran and other ME countries that big brother didn't like.

The USA love a leaders who would bow to them and obey their commands. That should give you an idea.

sTUPIDITY AT THE HIGHEST LEVEL. aL yUH READ dJANGO RESPONSE TO ME, WHAT A BLOODY fool. yOU are NAIVE, illiterate and lacks basic knowledge and common sense. You proved it above. End of story.

This oil deal with the PNC can down with an agreement similar to that that Exxon has with Equatorial Guinea. All the royalties from the oil will be deposited in a NY bank account in which the PNC families are the account holders. Somebody better keep an eye on dem PNC bwoys.

Prince posted:

RiffRaff posted:

Prince posted:

 

let's assume you are right for discussion sake

Why would the US prefer the PNC over the PPP?

The USA didn't like Jagdeo, and they couldn't tell Jagdeo who his friends should be. Jagdeo visited Iran and other ME countries that big brother didn't like.

The USA love a leaders who would bow to them and obey their commands. That should give you an idea.

Jagdeo was not running for President....it was Granger vs Ramo

site where EXXON has production platforms.

During his 41-year career at Exxon, REXXY, had often cut deals with authoritarian leaders of politically unstable countries like Equatorial Guinea and propped up dick-takers.

They may very well prop up anti East Indian rigger DAG.

Now who is DAG?  David A G.

This is what EXXON does around the world

"Equatorial Guinea is also one of the poorest countries in the world despite the oil boom having increased the size of its economy 20-fold since the mid 1990s. The ruling family has amassed property in Europe, Brazil and the United States while the majority of the population subsists on less than $2 a day."  

source NY TIMES.

RiffRaff posted:

Prince posted:

RiffRaff posted:

Prince posted:

 

let's assume you are right for discussion sake

Why would the US prefer the PNC over the PPP?

The USA didn't like Jagdeo, and they couldn't tell Jagdeo who his friends should be. Jagdeo visited Iran and other ME countries that big brother didn't like.

The USA love a leaders who would bow to them and obey their commands. That should give you an idea.

Jagdeo was not running for President....it was Granger vs Ramo

Confirmed Ramooo was a pupet.

RiffRaff posted:

Prince posted:

Guyana could be the next oil power in the next decade that may come with a price for the big players. Power and wealth will be the focal point on Guyana in the future. Could be the the reason why American sees fit to installed another dictator in power and unseat a legitimate ruler. 

let's assume you are right for discussion sake

Why would the US prefer the PNC over the PPP?

Like most, the USA wanted the PPP out because the PPP wanted nothing to do with accepting assistance in fighting the illegal running of drugs, they like their followers were quite comfortable with the status quo. Also, the nasty habits of some eg the dumb twat prya who spoke I'll of the people in their own home, the US had to be fed up with idiots so...out they go and out they shall stay because of their stupidity.

cain posted:

RiffRaff posted:

Prince posted:

Guyana could be the next oil power in the next decade that may come with a price for the big players. Power and wealth will be the focal point on Guyana in the future. Could be the the reason why American sees fit to installed another dictator in power and unseat a legitimate ruler. 

let's assume you are right for discussion sake

Why would the US prefer the PNC over the PPP?

Like most, the USA wanted the PPP out because the PPP wanted nothing to do with accepting assistance in fighting the illegal running of drugs, they like their followers were quite comfortable with the status quo. Also, the nasty habits of some eg the dumb twat prya who spoke I'll of the people in their own home, the US had to be fed up with idiots so...out they go and out they shall stay because of their stupidity.

Cain, shet you rass. You remember the names Lear Goring and Noel Blackman? Two niggroes who the PNC tried to give desk jobs. Drugs is still a problem in Guyana. What is this PNC admin doing? They encourage it, it's foreign exchange for them.

skeldon_man posted:

 Two niggroes

Another day and the Indo KKK busy at work. Continue.

caribny posted:

skeldon_man posted:

 Two niggroes

Another day and the Indo KKK busy at work. Continue.

I agree, he should say, Two Blackmen.

cain posted:

RiffRaff posted:

Prince posted:

Guyana could be the next oil power in the next decade that may come with a price for the big players. Power and wealth will be the focal point on Guyana in the future. Could be the the reason why American sees fit to installed another dictator in power and unseat a legitimate ruler. 

let's assume you are right for discussion sake

Why would the US prefer the PNC over the PPP?

Like most, the USA wanted the PPP out because the PPP wanted nothing to do with accepting assistance in fighting the illegal running of drugs, they like their followers were quite comfortable with the status quo. Also, the nasty habits of some eg the dumb twat prya who spoke I'll of the people in their own home, the US had to be fed up with idiots so...out they go and out they shall stay because of their stupidity.

Incorrect!  The USA wanted the PPP out because they were not accepting that they receive the lion's share of oil profits.  With the PNC, it was  - Just gimme what you want!

Bibi Haniffa posted:

cain posted:

RiffRaff posted:

Prince posted:

Guyana could be the next oil power in the next decade that may come with a price for the big players. Power and wealth will be the focal point on Guyana in the future. Could be the the reason why American sees fit to installed another dictator in power and unseat a legitimate ruler. 

let's assume you are right for discussion sake

Why would the US prefer the PNC over the PPP?

Like most, the USA wanted the PPP out because the PPP wanted nothing to do with accepting assistance in fighting the illegal running of drugs, they like their followers were quite comfortable with the status quo. Also, the nasty habits of some eg the dumb twat prya who spoke I'll of the people in their own home, the US had to be fed up with idiots so...out they go and out they shall stay because of their stupidity.

Incorrect!  The USA wanted the PPP out because they were not accepting that they receive the lion's share of oil profits.  With the PNC, it was  - Just gimme what you want!

"Petroleum production in Guyana is having a major boost to the economy of Guyana.As of 2008, there are four companies undertaking exploration work in Guyana. Exxon-Mobil, Repsol, Century Guyana Ltd. and CGX. The Petroleum Division of the Guyana Geology and Mines Commission has a responsibility of monitoring surveyance in Guyana."

https://en.wikipedia.org/wiki/...xploration_in_Guyana

What nonsense you deh pun,PNC signed any deal??

The lefties were to cushy with Maduroo,hampering exploration,

You forget the warship that chased out the oil drilling rig and Maduroo taking over of Exxon-Mobil.

Payback time...that hurts !!

caribny posted:

skeldon_man posted:

 Two niggroes

Another day and the Indo KKK busy at work. Continue.

Welcome back dougla advocate.

With oil added to the political equation it could spell more violence and sorrows for this country.  With the PNC hell bent on staying in power and dominating the Indians and Amerindians this could surely be a formula for disaster. Let's wait and see.

asj posted:

With only a twelve percent royalty, it would seems that the Coalition Government of Guyana has nothing to offer its citizens of oil Royalty, as it would seems that twelve percent will not be enough for those crooks to thief.

Banna, wake up and get real.   12% for doing nothing, taking no risk, not lifting a finger is major.  I doubt, after all costs and risk adjustment, Exxon will not be making 12% at current prices!  What the people think?

If Guyana wants to make more, they have to set up mid and downstream operations.  But that's a whole different business!

Billy Ram Balgobin posted:

With oil added to the political equation it could spell more violence and sorrows for this country.  With the PNC hell bent on staying in power and dominating the Indians and Amerindians this could surely be a formula for disaster. Let's wait and see.

I have a feeling when oil starts flowing, most Guyanese will care less who is in power, at least in the short and intermediate term.  The money will flow through the economy!

ba$eman posted:

asj posted:

With only a twelve percent royalty, it would seems that the Coalition Government of Guyana has nothing to offer its citizens of oil Royalty, as it would seems that twelve percent will not be enough for those crooks to thief.

Banna, wake up and get real.   12% for doing nothing, taking no risk, not lifting a finger is major.  I doubt, after all costs and risk adjustment, Exxon will not be making 12% at current prices!  What the people think?

If Guyana wants to make more, they have to set up mid and downstream operations.  But that's a whole different business!

I am hearing the number of 12% but it will 12% of the net profit. The Americans will never venture for a loss. So when it is all said and done ExxonMobil  will walk away with 82%. Whoever signed that contract  did it in desperation  .ADC  countries will get the PNC in government  provided they sign that deal. Simple.

kp posted:

ba$eman posted:

asj posted:

With only a twelve percent royalty, it would seems that the Coalition Government of Guyana has nothing to offer its citizens of oil Royalty, as it would seems that twelve percent will not be enough for those crooks to thief.

Banna, wake up and get real.   12% for doing nothing, taking no risk, not lifting a finger is major.  I doubt, after all costs and risk adjustment, Exxon will not be making 12% at current prices!  What the people think?

If Guyana wants to make more, they have to set up mid and downstream operations.  But that's a whole different business!

I am hearing the number of 12% but it will 12% of the net profit. The Americans will never venture for a loss. So when it is all said and done ExxonMobil  will walk away with 82%. Whoever signed that contract  did it in desperation  .ADC  countries will get the PNC in government  provided they sign that deal. Simple.

Where does your 82% come from?