Ministry of Natural Resources Archives - Panorama Insurance Brokers

Government ‘highly disappointed’ over gas compressor issue, examining implications of revenue loss

ADVERTISEMENT ‘,};function wppasReloadBnr_wp6078191fd6c7f(){ jQuery(“.wp6078191fd6c7f”).wppas_show({bid: 41676,bw: jQuery(“.b_cont_wp6078191fd6c7f”).width(),effect:””,html: bhtml_wp6078191fd6c7f,scale: 1,timeline_arr: {“1200”:{“wp3bscu_image”:{“ID”:”wp3bscu_image”,”css”:{“layer”:{“pos_h”:”left”,”pos_v”:”bottom”,”top”:”px”,”bottom”:”20px”,”right”:”px”,”left”:”0px”,”width”:”726px”,”height”:”91px”,”background-color”:””},”item”:{“custom_class”:””,”border”:null,”border-radius”:[]}},”font”:[],”animation”:{“start_animation_type”:””,”start_animation_effect”:”linear”,”start_animation_speed”:”100″,”fade_in_speed”:”100″,”start_pos_offset”:”0″,”fade_out_speed”:”0″,”end_animation_type”:””,”end_animation_effect”:”linear”,”end_animation_speed”:”0″,”end_animation_repeat”:”0″,”start_time”:”0″,”end_time”:”0″},”data”:{“object”:”image”,”type”:”image”,”itm”:”image”,”icon”:”“,”src”:”https:\/\/oilnow.gy\/wp-content\/uploads\/2019\/10\/sbm-guyana.jpg”,”attach_id”:41680,”layer_css”:{“pos_h”:”left”,”pos_v”:”top”,”z-index”:6},”itm_css”:[]},”zindex”:6,”v”:”522″},”wp3by7o_text”:{“ID”:”wp3by7o_text”,”css”:{“layer”:{“pos_h”:”left”,”pos_v”:”top”,”font-size”:”10″,”font-family”:”Verdana”,”text-align”:”center”,”color”:””,”top”:”20px”,”bottom”:”px”,”right”:”px”,”left”:”0px”,”width”:”727px”,”height”:”16px”,”background-color”:””},”item”:{“font-size”:”10″,”font-family”:”Verdana”,”text-align”:”center”,”color”:””,”custom_class”:””,”border”:null,”border-radius”:[]}},”font”:{“font-size”:”10″},”animation”:{“start_animation_type”:””,”start_animation_effect”:”linear”,”start_animation_speed”:”100″,”fade_in_speed”:”100″,”start_pos_offset”:”0″,”fade_out_speed”:”0″,”end_animation_type”:””,”end_animation_effect”:”linear”,”end_animation_speed”:”0″,”end_animation_repeat”:”0″,”start_time”:”0″,”end_time”:”0″},”data”:{“object”:”text”,”type”:”text”,”itm”:”text”,”icon”:””,”code”:”ADVERTISEMENT”,”src”:””,”layer_css”:{“pos_h”:”left”,”pos_v”:”top”,”z-index”:7,”color”:”#000000″},”itm_css”:[]},”zindex”:7,”v”:”522″}},”main”:{“alphaID”:”bIsu47″},”v”:”530″},ID:41676,alphaID:”bIsu47″,size:”728×150″,w:728,h:150,status:”active”,advertiser:41677,campaign:””,contract:””,duration:””,showhide:0,scale_banner:1,keep_aspect_ratio:1,no_follow:0,});}jQuery(document).ready(function($){$(window).load(function() {wppasReloadBnr_wp6078191fd6c7f();});}); The Guyana government said on Wednesday it was ‘highly disappointed’ with ExxonMobil’s inability to resolve ongoing issues with the flash gas compressor system on the Liza Destiny FPSO which on three occasions since oil production began in December 2019, encountered difficulties that resulted in a… Read More

Guyana lifts its 6th million-barrel oil cargo, next shipment could be affected by drop in production

ADVERTISEMENT ‘,};function wppasReloadBnr_wp607819cfef085(){ jQuery(“.wp607819cfef085”).wppas_show({bid: 41676,bw: jQuery(“.b_cont_wp607819cfef085″).width(),effect:””,html: bhtml_wp607819cfef085,scale: 1,timeline_arr: {“1200”:{“wp3bscu_image”:{“ID”:”wp3bscu_image”,”css”:{“layer”:{“pos_h”:”left”,”pos_v”:”bottom”,”top”:”px”,”bottom”:”20px”,”right”:”px”,”left”:”0px”,”width”:”726px”,”height”:”91px”,”background-color”:””},”item”:{“custom_class”:””,”border”:null,”border-radius”:[]}},”font”:[],”animation”:{“start_animation_type”:””,”start_animation_effect”:”linear”,”start_animation_speed”:”100″,”fade_in_speed”:”100″,”start_pos_offset”:”0″,”fade_out_speed”:”0″,”end_animation_type”:””,”end_animation_effect”:”linear”,”end_animation_speed”:”0″,”end_animation_repeat”:”0″,”start_time”:”0″,”end_time”:”0″},”data”:{“object”:”image”,”type”:”image”,”itm”:”image”,”icon”:”“,”src”:”https:\/\/oilnow.gy\/wp-content\/uploads\/2019\/10\/sbm-guyana.jpg”,”attach_id”:41680,”layer_css”:{“pos_h”:”left”,”pos_v”:”top”,”z-index”:6},”itm_css”:[]},”zindex”:6,”v”:”522″},”wp3by7o_text”:{“ID”:”wp3by7o_text”,”css”:{“layer”:{“pos_h”:”left”,”pos_v”:”top”,”font-size”:”10″,”font-family”:”Verdana”,”text-align”:”center”,”color”:””,”top”:”20px”,”bottom”:”px”,”right”:”px”,”left”:”0px”,”width”:”727px”,”height”:”16px”,”background-color”:””},”item”:{“font-size”:”10″,”font-family”:”Verdana”,”text-align”:”center”,”color”:””,”custom_class”:””,”border”:null,”border-radius”:[]}},”font”:{“font-size”:”10″},”animation”:{“start_animation_type”:””,”start_animation_effect”:”linear”,”start_animation_speed”:”100″,”fade_in_speed”:”100″,”start_pos_offset”:”0″,”fade_out_speed”:”0″,”end_animation_type”:””,”end_animation_effect”:”linear”,”end_animation_speed”:”0″,”end_animation_repeat”:”0″,”start_time”:”0″,”end_time”:”0″},”data”:{“object”:”text”,”type”:”text”,”itm”:”text”,”icon”:””,”code”:”ADVERTISEMENT”,”src”:””,”layer_css”:{“pos_h”:”left”,”pos_v”:”top”,”z-index”:7,”color”:”#000000″},”itm_css”:[]},”zindex”:7,”v”:”522″}},”main”:{“alphaID”:”bIsu47″},”v”:”530″},ID:41676,alphaID:”bIsu47″,size:”728×150″,w:728,h:150,status:”active”,advertiser:41677,campaign:””,contract:””,duration:””,showhide:0,scale_banner:1,keep_aspect_ratio:1,no_follow:0,});}jQuery(document).ready(function($){$(window).load(function() {wppasReloadBnr_wp607819cfef085();});}); The Guyana government exported another million-barrel oil cargo this week from the Liza Destiny FPSO even as production was reduced from 120,000 barrels of oil per day (bpd) to around 30,000 bpd due to additional issues encountered with the gas compressor system on the vessel…. Read More

Local content consultations wrap up with participation from over 180 agencies, firms

‘,};function wppasReloadBnr_wp6064667ea9caa(){ jQuery(“.wp6064667ea9caa”).wppas_show({bid: 45372,bw: jQuery(“.b_cont_wp6064667ea9caa”).width(),effect:””,html: bhtml_wp6064667ea9caa,scale: 1,timeline_arr: {“1200”:{“wp9sat6_image”:{“ID”:”wp9sat6_image”,”css”:{“layer”:{“pos_h”:”left”,”pos_v”:”top”,”z-index”:6},”item”:[]},”font”:[],”animation”:[],”data”:{“object”:”image”,”type”:”image”,”itm”:”image”,”icon”:”“,”src”:”https:\/\/oilnow.gy\/wp-content\/uploads\/2020\/10\/oilnow-business.png”,”attach_id”:45370,”layer_css”:{“pos_h”:”left”,”pos_v”:”top”,”z-index”:6},”itm_css”:[]},”zindex”:6,”v”:”522″}},”main”:{“alphaID”:”bK5x8V”},”v”:”530″},ID:45372,alphaID:”bK5x8V”,size:”728×120″,w:728,h:120,status:”active”,advertiser:9578,campaign:””,contract:””,duration:””,showhide:0,scale_banner:1,keep_aspect_ratio:1,no_follow:0,});}jQuery(document).ready(function($){$(window).load(function() {wppasReloadBnr_wp6064667ea9caa();});}); The Ministry of Natural Resources (MNR) said on Tuesday that it has concluded a series of strategic engagements with various stakeholders in Guyana on the revised draft Local Content Policy (LCP). MNR said this policy initiative responds to commitments made by President Mohammed Irfaan Ali for… Read More

Guyana’s 5th oil cargo was sold to Hess, no decision yet on exports to India

The Government of Guyana sold its 5th oil cargo to Hess in February which saw the country being paid the highest sum to date for its exports, on par with the market price for crude at the time. The country received just over US$61 per barrel for that shipment – for a total of US$61,090,968.03… Read More

Strategic consultations on local content advancing, feedback on key areas received

An intense round of engagement with oil and gas companies in Guyana and other stakeholders in recent weeks have seen feedback on specific areas of enhance business development being received by the Ministry of Natural Resources. “The consultations are evolving with both stakeholders from the industry and government agencies on the growth of the industry,”… Read More

Guyana seeking internationally recognized law firm in push to boost legal, regulatory framework for oil & gas

The Government of Guyana has applied for financing in the amount of US$20 million from the World Bank toward the cost of the Guyana Petroleum Resources Governance and Management Project (GPRGMP) and it intends to apply part of the proceeds to pay a consulting firm to provide legislative drafting services for the oil and gas… Read More

Guyana must emulate Kuwait, Qatar not T&T and Venezuela – Bharrat

The errors made by Trinidad and Tobago and Venezuela in the management of their hydrocarbon resources must be a warning to Guyana that if similar decisions are made, the failure of the economy is almost guaranteed. Guyana’s Minister of Natural Resources, Vickram Bharrat said signs of the Dutch disease had started to appear in the… Read More

Guyana pushing Sustainable Supply Chain Management policy

Guyana’s local content policy, which is currently being revised, will require oil industry operators to adopt Sustainable Supply Chain Management (SSCM) practices, and a planned Local Content Secretariat will coordinate all related activities at a national level. Vickram Bharrat Giving the background for this development, Guyana’s Minister of Natural Resources Vickram Bharrat said on February… Read More

Liza-1 well can produce up to 50 million standard cubic feet of gas per day

Guyana is poised to significantly reduce its reliance on imported fossil fuel to meet its energy needs through the utilisation of natural gas from the offshore Liza field at the Stabroek block. There has been broad-based consensus on the transformational impact this project could have on the economy and the direct benefits it would bring… Read More

Investors pouring in ‘almost every single day’ into South America’s newest hot spot – oil minister

Investor interest in the South American country of Guyana, now an emerging regional oil producing powerhouse, is at an all-time high with the country’s oil minister saying meetings with government officials are being sought on an almost daily basis. “Almost every single day we have investors come in. And I want to say, it’s not… Read More