Vast Oil Find Puts Guyana on the Verge of Riches – or Failure
Perhaps everything would be easier if people could actually see the oil. If the drilling platforms, the supply boats and the gigantic specialized vessels used to clean and store the oil were anchored just offshore and not way beyond the horizon. Then, perhaps people would better understand the great lengths that oil companies go to…
Letter to Dr Adams: Questions regarding Esso’s flaring
Dr Vincent Adams, As noted in the press Esso Exploration and Production Guyana Ltd continues to flare more than 15 million cubic feet per day. It had already flared more than 9 billion cubic feet of gas. The flaring is a breach of what we were promised. In 2017, the Minister of Natural Resources said, “We also determined that…
Guyana: IDA promoting increase in greenhouse gas emissions
5th June 2020David MalpassPresidentThe World Bank1818 H Street,Washington DC, NW 20433 Dear Mr Malpass,Guyana Petroleum Resources Governance and Management Project (P166730) (Guyana Project)IDA: promoting an increase in greenhouse gas emissions from GuyanaWe are concerned that the Guyana Project contains a fundamental misunderstanding of Guyana’s legal regime. If so, it will lead to an increase in…
Exxon’s Gas Flaring is Latest Sign that Oil May Turn Guyana from Carbon Sink to Carbon Bomb
As ExxonMobil holds its 2020 Annual Meeting of Shareholders today, the Center for International Environmental Law (CIEL) calls on the company to stop flaring gas offshore in Guyana, the site of its biggest oil development outside the U.S. Permian Basin. The flaring, which far exceeds levels authorized by the Guyanese government, releases greenhouse gases and…
Guyana’s ‘associated gas’ has no market value
Is it in Guyana’s best interests to take ‘associated gas’ to generate electricity, as so enthusiastically advocated by Mr Bynoe and Dr Mangal? Quite simply, no. The IMF, the World Bank, the IADB, the European Investment Bank, leading economists (e.g. former World Bank Chief Economists Lord Stern and Joseph Stiglitz,), the Institute for Energy Economics…
Exxon gas could have been put to good use – Mangal
ExxonMobil’s flaring of over nine billion cubic feet of natural gas could have been avoided had a proposed gas-to-shore pipeline project been implemented but it was stalled because a plan to determine the best location was rejected by government officials as some wanted to handpick a site, former Petroleum Advisor Jan Mangal says. He said…
Mangal shocked at Exxon’s offshore flaring
Former presidential advisor on petroleum Jan Mangal has expressed shock that ExxonMobil has flared over 2 billion cubic feet of natural gas offshore and said that he had insisted in 2018 that there be no flaring and that gas be brought to shore for electricity, fertilizer and other uses. Believing that ExxonMobil flared the gas…
Oil, Ethnic Conflict, and Necessary and Sufficient Reforms
ExxonMobil and its affiliates hit the jackpot in their offshore oil exploration with the Liza-1 well discovery in the Stabroek Block in Guyana in May 2015. Multiple oil discoveries since then have unleashed the business optimism of onshore service providers and elicited significant excitement amongst the Guyanese public. Now boasting some of the highest per capita proven…