The International Energy Conference and Expo Guyana 2023 is pleased to announce the participation of Diletta Doretti, Resident Representative for Guyana and Suriname at World Bank in Guyana, as a speaker at the second edition of the event in February.
Doretti is responsible for maintaining the day-to-day dialogue and solid partnership around the World Bank’s programs in both countries. Since joining the institution in 2002, Doretti has held various positions at the World Bank, the most recent, being Senior Private Sector Development Specialist for the World Bank West Africa region, based in Mali.
Doretti has strong and diversified World Bank experience in leading teams and in corporate assignments, including country engagements and developing the World Bank’s strategies around the private sector, entrepreneurship, and innovation.
Kurt Baboolall, Chief Executive Officer of the International Energy Conference and Expo Guyana 2023, said, “The World Bank representative, Ms Doretti will give all stakeholders present at the conference a glimpse of how the US$44M allocated to Guyana last year will be spent on skills development in the emerging energy sector. We are pleased to welcome Ms Doretti onboard for this year’s conference.”
Doretti is among a number of speakers slated to deliver addresses at the Conference and Expo which include World renowned Professor in economics, Jeffrey D. Sachs, CEO of the Hess Corporation, John Hess. There are a number of Heads of Governments expected to deliver remarks; these are; H.E. Dr. Mohamed Irfaan Ali, President of Guyana, H.E. Chandrikapersad Santokhi, President of Suriname and Dr. Keith Rowley, Prime Minister of Trinidad and Tobago.
The Conference and Expo this year is being hosted under the theme ‘Harnessing Energy for Development’ and will be held from February 14th-17th, 2023, at the Marriott Hotel in Georgetown, Guyana. It is expected to assemble Heads of State, government officials, policymakers, academics, industry professionals, and global energy thought-leaders.
Hess Announces New Oil Discovery in the Stabroek Block
As previously stated in a Hess report earlier this month, oil discovery and extraction continue to accelerate in the Stabroek Block. The 2nd dedicated Fangtooth production unit, the Fangtooth SE-1 well has struck oil following recent concentrated activity in the area by the Stena Carron rig.
With this finding, Hess stated the Fangtooth SE-1 well (a co-venture with ExxonMobil) “encountered approximately 200 feet of oil-bearing sandstone reservoirs”.
With this latest oil discovery, the Stabroek Block is now responsible for more than 11 billion barrels of oil equivalent (boe).
ExxonMobil (Premier Level Sponsor), Hess Corporation (Diamond Level Sponsor) and Stena Drilling (Silver Level Sponsor), will all be active at the 2nd annual International Energy Conference and Expo Guyana in 20 days.
The Conference and Expo is being hosted under the theme ‘Harnessing Energy for Development’ and will be held from February 14th-17th, 2023 at the Marriott Hotel in Georgetown, Guyana. Assembling key Heads of State, government officials, policymakers, academics, industry professionals, and global energy thought-leaders, this will be the event to stay on top of the rapidly accelerating development in the region.
GYSBI is a Gold Sponsor of the International Energy Conference and Expo Guyana 2023
The International Energy Conference and Expo 2023 welcomed Guyana Shore Base Inc. (GYSBI) onboard as a gold sponsor of the event, February 14–17, 2023.
Kurt Baboollal, Chief Executive Officer of the International Energy Conference and Expo Guyana 2023 said, “I’d like to extend a warm welcome to GYSBI as a new gold sponsor of the conference and expo. As a Guyanese company, GYSBI is demonstrating leadership in Guyana’s energy industry and will be displaying its extensive service offerings to the Guyanese public at the expo. They have grown and expanded quite largely over the past years, and we are excited to see all that has been taking place.”
GYSBI was formed in 2017 to provide shore base services to ExxonMobil following the discovery of oil. Throughout the past five years, GYSBI has continuously expanded to cater to the needs of the industry. It now serves as the preferred onshore support hub for oil and gas operators in Guyana, providing services ranging from vessel management, waste management, and warehousing solutions to construction and supply chain management.
With immediate water access and four berths, its main port consists of 30 acres of developed land, while its 140-acre industrial estate has been developed to suit a myriad of needs.
Today, the company boasts more than 710 employees, maintaining a minimum of 95 percent Guyanese workers and is a leading developer of local content here in Guyana.
Gomatie Gangadin, Public Relations Manager of GYSBI said, “We are indeed proud to be associated with the International Energy Conference and Expo as it provides the ideal platform, not only to educate and inform everyone of what’s taking place offshore Guyana and within the Oil and Gas Industry, but also the opportunity for local businesses like ourselves, to let industry leaders know how we are supporting these efforts, what services we offer and what areas are available for cooperation and collaboration.”
The Conference and Expo was hosted under the theme ‘Harnessing Energy for Development’ and is expected to assemble Heads of State and Government, policymakers, academics, industry professionals, government officials and global energy thought leaders.
So far, the International Energy Conference and Expo Guyana 2023 has been able to garner support from the Government of Guyana. The event has been able to attract over 30 sponsors and close to 200 exhibitors.
Guyana government lowers price of gas and diesel for consumers
Globally gas prices are an increasing burden to the motoring public however, in Guyana consumers will be seeing a further reduction in the prices at the pump in the near future.
The Guyana government through the Ministry of Finance has effectively reduced the cost of gasoline and diesel from the Guyana Oil Company Limited (GUYOIL) in a bid to bring further relief to consumers across the country.
Senior Minister in the Office of the President with responsibility for Finance, Hon. Dr. Ashni Singh announced on behalf of the Government a reduction of gasoline and diesel prices at the pump to be charged by the Guyana Oil Company Ltd (GUYOIL).
The prices at the pump charged by GUYOIL will be reduced as follows: gasoline prices reduced by 20 percent from $269 per litre to $215 per litre; and diesel prices reduced by 15 percent from $265 per litre to $225 per litre.
According to a press release, the Ministry of Finance indicated that during the first half of 2022, global oil prices surged more than 50 percent, increasing from US$77 per barrel at the end December 2021 to US$120 in June of this year; having risen as high as US$137 per barrel primarily because of the Russian invasion of Ukraine. The impact of the dramatic increases in oil prices were significant and given the interconnected nature of the global economy, translated into higher cost of landing fuel in Guyana.
The press release states that, to mitigate the impact of rising global fuel prices on domestic consumers and the productive sectors to which fuel is a key input, the Government lowered the Excise Tax rate on both gasoline and diesel from 10 percent to 0 percent in March of this year. It would be recalled that, previously, during the Budget 2022 presentation, the Government lowered the Excise Tax on both gasoline and diesel from 20 percent to 10 percent to minimize the impact of rising global oil prices.
The Government has been progressively lowering the Excise Tax rate on both gasoline and diesel, from 50 percent to 35 percent in February 2021, 35 percent to 20 percent in October 2021, in keeping with Government’s policy to adjust the taxes on fuel, to mitigate the impact of rising fuel prices on the world market.
Since resuming office in August 2020, the PPP/C Government has implemented a suite of measures to ease cost of living pressures and to improve disposable incomes. In an ongoing effort to address these issues head-on and to mitigate the effects of rising prices globally on all Guyanese citizens.
The reduction in excise taxes is one such of several measures implemented by the Government since assuming office.
VSH United (Guyana) Inc was established on May 2015 in Georgetown, Guyana. Specialises in safety products, logistic services, real estate. They are also the sole distributors for Ansell and HexAmour.
SBM Offshore has announced that it has completed the project financing of FPSO ONE GUYANA for a total of US$1.75 billion., 
The Guyana National Bureau of Standards (GNBS), operating under the Ministry of Tourism Industry and Commerce is a semi-autonomous governmental organization responsible for standards and quality in Guyana. There role is to:
