eyesonsuriname 1. Historical Context The longstanding territorial dispute between Guyana and Venezuela has its roots in colonial history. The Essequibo region, rich in natural resources, has been a point of contention for centuries. Guyana, a former British colony, claims the area based on historical boundaries, while Venezuela asserts that the 1899 Arbitral Award was invalid.…
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eyesonguyana Amsterdam, 27 april 2024–ExxonMobil’s Chief Executive Officer (CEO) and Chairman of the Board, Darren Woods, hailed Guyana’s oil story as one that will be well remembered in the history of the oil and gas sector. “I believe Guyana will go down as one of the most successful deepwater developments in the history of the…
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Guyana’s Path to Recovery After the Esequibo Annexation eyesonsuriname 1. The Challenge: Venezuela’s Bold Move The recent annexation of the oil-rich Esequibo region by Venezuela has sent shockwaves through Guyana. This contested territory, comprising two-thirds of Guyana’s landmass, holds immense potential for economic growth. However, with Caracas eyeing offshore oil riches, Guyana faces an uphill…
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Centuries Old Territorial Dispute Flames Up eyesonsuriname Amsterdam, 22 March 2024 — Venezuela’s National Assembly Thursday passed a law creating a new region in the oil-rich Essequibo territory under Guyanese control since the late 1800s on which Caracas claims sovereignty. The Venezuelan Parliament unanimously approved the creation of the state of Guayana Esequiba, which is…
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eyesonsuriname Suriname, nestled on the northeastern coast of South America, recently found itself in the spotlight after signing a trilateral agreement with neighboring Guyana and regional giant Brazil. This pact focuses on cooperation in the oil and gas sector, aiming to unlock mutual benefits for all parties involved. But for Suriname, this agreement holds particular…
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Safeguarding a Nation Committed to Peace eyesonsuriname Guyana, a beacon of peace and stability in the heart of South America, recently reaffirmed its dedication to regional cooperation under the leadership of President Dr. Mohamed Irfaan Ali at the CELAC summit. However, with ongoing border disputes with Venezuela, questions arise about how Guyana can safeguard its…
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eyesonsuriname Amsterdam, 1 Feb 2024– The global upstream industry is eyeing a rebound in high-impact oil and gas drilling in 2024, with Africa and Latin America poised to be the driving forces behind these activities. According to Rystad Energy, a total of 36 high-impact wells are identified for drilling this year, marking the highest annual…
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eyesonsuriname Amsterdam, 15 Jan. 2024–The Guyana-Suriname basin is projected to add 950,000 barrels of oil per day (b/d) to market supply, with four projects to come on stream in the period 2025-2028. One floating production, storage and offloading (FPSO) vessel will start operations each year in the period. 1. ONE GUYANA (Yellowtail project) – Developers: ExxonMobil,…
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The European market’s evolving preference for crude oil, amidst changing global dynamics, has led to distinctions in the valuation of Guyana’s crude exports, particularly between Liza, Unity Gold, and Payara crude. Felipe Perez, Head of Latin America Fuels and Refining at S&P Global, and Pat Harrington, Latin America Crude Mortgage Editor at S&P Global, shed…
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Developments Galore eyesonsuriname Amsterdam, Jan 2nd 2023– The year 2024 is expected to welcome a massive expansion of operations in Guyana’s oil and gas industry. New blocks will be awarded, oil developments will advance, and the prospect of gas development will shift into focus. Here is a list of what to expect: Signed contracts from offshore…
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