ExxonMobil, Partners Aim For 1.3 Million Barrels Per Day In Guyana

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News Americas, New York, NY, November 14, 2024: ExxonMobil Guyana and its Stabroek block partners, Hess and CNOOC, have announced plans to expand production capacity to over 1.3 million barrels of oil per day by the end of 2027. This growth projection aligns with the ExxonMobil-led consortium’s goal to fully operationalize six major offshore projects within the Stabroek block, a milestone anticipated to bring substantial economic gains to Guyana.

The ExxonMobil Guyana offices at 86 Duke Street in Georgetown, Guyana. Photographer: Jose A. Alvarado Jr./Bloomberg via Getty Images

This announcement follows the consortium’s achievement of producing 500 million barrels of oil since Guyana joined the ranks of oil-producing nations in 2019. In a statement, ExxonMobil Guyana President Alistair Routledge attributed the rapid development pace to close collaboration with the government of Guyana and strategic partnerships with suppliers, contractors, and co-venturers.

ExxonMobil Guyana Limited operates the Stabroek block with a 45% stake, while Hess Guyana Exploration Ltd. and CNOOC Petroleum Guyana Limited hold 30% and 25% shares, respectively. Together, these companies have committed nearly $55 billion to developing six government-approved projects in the block. Current projects, Liza Phase 1, Liza Phase 2, and Payara, are already producing more than 650,000 barrels daily, positioning Guyana for sustained growth in the global energy market.

Since production began in December 2019, oil revenues and royalties totaling over $5.4 billion have been directed to Guyana’s Natural Resource Fund ExxonMobil Guyana said. Additionally, more than 6,000 Guyanese now support operations at Stabroek, representing nearly 70% of the local oil industry workforce the company added, noting that the steady growth in production and employment is expected to bring further economic benefits to Guyana, alongside billions in projected revenue from continued offshore development.

Get Ready To Fly From Holland To Guyana

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News Americas, New York, NY, November 14, 2024: Get ready to fly from Amsterdam to Georgetown, Guyana! KLM has announced the launch of its Amsterdam-Georgetown route, set to begin on June 4, 2025. This new addition is part of KLM’s expanding intercontinental network.

KLM Airlines will begin direct flights to Guyana next June.

Starting June 4, 2025, KLM will operate two weekly flights from Amsterdam to Georgetown, with a brief stopover in Sint Maarten on the way. The route will use an Airbus 330-200 aircraft, offering 18 seats in World Business Class and 246 seats in Economy Class. Flights are scheduled for Wednesdays and Saturdays, departing Amsterdam Schiphol Airport at 10:00 and arriving in Georgetown at 16:35 local time.

KLM’s Georgetown route is aimed at meeting growing demand from the rapidly developing Guyanese market, reflecting the airline’s commitment to serving dynamic and emerging destinations worldwide. With these new flights, KLM opens up more travel options for passengers while fostering closer connections between the Netherlands and South America.

Flight Details for Amsterdam-Georgetown Route:

Outbound Flight (KL789):

Departs Amsterdam Schiphol at 10:00, arriving in Sint Maarten at 13:00.

Departs Sint Maarten at 14:20, arriving at Georgetown’s Cheddi Jagan International Airport at 16:35 local time.

Return Flight (KL789):

Departs Georgetown at 17:55, arriving in Amsterdam Schiphol the next day at 09:15 local time.

This new route not only adds convenience for travelers between Europe and Guyana but also supports the economic growth and global connectivity to the South American CARICOM nation.

West Indies Cricket Legend Launches Inspiring Autobiography

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News Americas, New York, NY, November 14, 2024: West Indies and Guyanese cricket legend, Alvin Kallicharran, has officially unveiled his autobiography.

West Indies and Guyana cricket legend Alvin Kallicharran (second left) during the launch of his autobiography at the Oasis Cafe in Guyana.

The 75-year-old former batting inspiration, has released Colour Blind, a compelling look at his journey in cricket and the role the sport played in bridging racial divides. Launched at the Oasis Cafe in Georgetown, Guyana, the book highlights Kallicharran’s personal experiences as a professional cricketer and serves as a guide for aspiring young players.

Kallicharran, who earned the title of Wisden Cricketer of the Year in 1983, achieved over 20,000 runs in his illustrious nine-year career and shared at the event that cricket opened countless doors for him, inspiring his desire to give back to the sport and to his homeland, Guyana. Reflecting on his humble beginnings, Kallicharran spoke of the values of “hard work, perseverance, hunger, and passion” that carried him from Port Mourant, Berbice to international fame. He also credited iconic figures like Basil Butcher, Lance Gibbs, Rohan Kanhai, and Sir Gary Sobers as mentors who guided his path.

“The game has been so good to me, from the village to the international world. Hard work, perseverance, hunger, passion and the desire to play this sport,” he said. ““I believe it’s my time to give back to Guyana and Berbice, because without patience you achieve mediocrity.”

Kallicharran, who averaged 44.43 in 66 Test matches, including 12 hundreds and 21 half-centuries, spoke of how he became involved in cricket.

“The life journey, mixing of races, the journey started with Basil Butcher giving me my first cricket bat. Lance Gibbs was one of my greatest mentors, Rohan Kanhai and Sir Gary Sobers are a big part of my life and we’re all different colors. Going to England playing cricket and making money off the white man, how can I turn back and say it prejudice, so it’s about bringing oneness to us as a people,” said Kallicharan.

The event also featured the book’s co-author, Tony McWatt, and remarks from Dr. Ritesh Tularam on behalf of Minister of Education Priya Manickchand, underscoring Colour Blind as both a memoir and a call for unity through sports.

Eastern Caribbean Securities Exchange Lowers Investment Threshold

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News Americas, New York, NY, November 14, 2024: The Eastern Caribbean Central Bank (ECCB) Monetary Council has introduced a series of new measures aimed at boosting individual and small-business participation on the Eastern Caribbean Securities Exchange (ECSE). The council has notably lowered the minimum financial threshold for investment, reducing the barrier from EC$5,000 to EC$500 to facilitate wider engagement with the regional stock exchange.

ECCB Governor Timothy Antoine

These changes are part of the ECCB’s strategic initiative to democratize access to investment opportunities within the eight member territories, which include Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. The ECSE, launched in 2001 as a fully electronic exchange, was established to provide a platform for regional investment, but individual investors have historically been underrepresented. Currently, approximately 98% of investors are institutional entities, leaving individual participation at a marginal 2%.

To address this gap, the ECCB’s Monetary Council, which includes finance ministers from each member territory, not only lowered the entry threshold but also recommended that a portion of future bonds and treasury bills be earmarked exclusively for small investors. This safeguard is intended to prevent institutional investors from monopolizing these financial instruments, providing individual investors with fairer access.

ECCB Governor Timothy Antoine emphasized the importance of public participation in the securities market, likening the opportunity to wealth-building practices common in larger markets, such as the U.S., where Caribbean diasporic families routinely invest. Antoine explained that the ECCB itself maintains substantial holdings in U.S. markets, as the U.S. dollar is essential to member economies given its status as the currency for the majority of their external debt and import transactions.

In tandem with the ECCB’s efforts, Finance Minister Dennis Cornwall highlighted the need to foster a culture of financial literacy and access to capital within the region. He outlined three key focus areas for regional credit unions: promoting financial education from a young age, expanding access to capital—particularly in underserved communities—and encouraging collaboration across sectors. These initiatives aim to equip citizens with the skills and resources to build sustainable wealth and support regional economic growth.

The announcement came at a recent conference, held under the theme “Financial Empowerment through Wealth Creation: Investment Opportunities in the Eastern Caribbean Currency Union (ECCU).”