DIRS.INFO The most relevant business & tech news

Exxon "engaged in a disingenuous attempt" to dilute its obligations under its environmental permit for Liza One, the project that inaugurated Guyana's oil production in 2019, High Court Justice Sandil Kissoon said in the ruling. Guyana's Environmental Protection Agency and the energy ministry so far has approved five offshore oil and gas projects submitted by the group. According to Kissoon's ruling, Exxon must furnish Guyanese authorities with a liability agreement from an insurance company by June 10, or the Liza One environmental permit will be suspended. The company "engaged in a course of action made permissible only by the omissions of a derelict, pliant, and submissive Environmental Protection Agency," the judge wrote. Exxon is reviewing the court decision and evaluating next steps, a company spokesperson said.

☆ Universal Studio Group’s UCP teams up with Nigeria’s Comic Republic in new TV series deal
▼ + stars: | 2023-05-03 | by ( Aisha Salaudeen | ) edition.cnn.com time to read: +3 min

In the Vanguards Universe, heroes come together as humankind’s first line of defense, protecting the people of Lagos from members of the first race seeking to punish them. Since its inception 10 years ago, Comic Republic has created and conceptualized dozens of comic book characters and stories. Through his studio, Mad Massive Entertainment, Hinds will work with UCP and the Comic Republic team to execute the production. “I’ve always wanted to show that you can provide quality output out of Africa, because at the time we started, there wasn’t any such thing coming out of the continent,” said the Comic Republic CEO. He added that Comic Republic is well-suited for this deal because the company has worked hard over the past 10 years to build an interconnected superhero universe in its comics.

☆ ‘Black Panther’ and the New Blueprint for Female Warriors Onscreen
▼ + stars: | 2023-04-20 | by ( Nancy Coleman | ) www.nytimes.com time to read: +1 min

There’s something courageous in her; she’s not going to walk into a space unprepared. There was a tender day on set [for “Black Panther: Wakanda Forever,” filmed after Chadwick Boseman, the franchise’s original star, died in 2020] when we connected deeply. ], I was distraught about how terribly African women were portrayed in the West, if they ever were. The joy for me is to see Black women from around the world getting our stories told: Letitia [Wright, another “Black Panther” actor] is Guyanese British, and she had to learn a ton of Shona when she was the lead in my play at the Young Vic [“The Convert,” 2018-19, in London]. To have her doing our accents and intonations beautifully was like seeing the diaspora embracing itself.

HOUSTON, March 6 (Reuters) - Guyana's coming auction of offshore oil exploration blocks has lured at least 10 companies including Shell, Petrobras and Chevron, to consider the decade's hottest oil region, people close to the matter said. Guyana also has begun direct negotiations on the 14 blocks and other areas with governments that have state-controlled oil companies. The proposed rules will nearly double the government's take from oil production to 27.5% of royalties and profit oil, plus a new 10% corporate tax, compared to Exxon's main contract. "We believe it is asymmetric now, and a bit in favor of the companies," Jagdeo said. The Exxon group can use 75% of the oil production to offset a variety of costs, including construction of its new Guyana headquarters.

"From 2020 onwards, we've achieved extremely strong real economic growth overall," Singh said at Guyana's Energy Conference and Expo in Georgetown. Guyana's economy registered a real growth of 62% last year and it has been forecasted to expand by another 25% this year. "Real economic growth of 25% over a sustained period is an achievement that is rare in the historic economic context." By the end of 2026, the fund is expected to have increased its balance to $5.4 billion. Reporting by Neil Marks in Georgetown and Marianna Parraga in Houston Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Refiner Indian Oil Corp (IOC.NS) also is looking to work in Guyana in collaboration with ONGC Videsh, two people close to the talks told Reuters. Guyana is offering three deepwater and 11 shallow-water blocks, each averaging 2,000 square kilometers (722 sq miles). Exxon is considering bids on the blocks, said the company's Guyana country chief, Alistair Routledge. To bring more companies into the auction, Guyana did not restrict the amount of blocks companies can bid for, but will limit the awards to three per company. Last year, Exxon, Hess Corp (HES.N) and China's CNOOC (0883.HK) ramped up oil output and exports with their second production vessel.

☆ Exxon set to order 5th Guyana oil vessel, sizing up more blocks
▼ + stars: | 2023-01-16 | by ( Sabrina Valle | ) www.reuters.com time to read: +4 min

The efforts would add significantly to the $30 billion committed thus far by Exxon and Guyana partners Hess Corp (HES.N) and CNOOC Ltd (0883.HK). Guyana has emerged as the world's fastest-growing oil region since Exxon made its first offshore discovery in 2015. It would be the consortium's largest and most expensive project, outstripping the $10 billion cost of the fourth project. Its oil would start flowing in 2027 and continue for 20 years, according to the Guyana government's estimate. Guyana President Mohamed Irfaan Ali visited India last week to try to entice private companies and the government to join its oil business.

The government's $1.1 billion share of oil revenue was up sharply from a combined $409 million in profit and royalties in 2021. Guyana is producing about 360,000 barrels per day (bpd) of oil and aims to raise output to 1.64 million bpd by end of the decade. Guyana's exports averaged 265,693 bpd last year, more than double the 100,645 bpd in 2021, according to shipping data from Refinitiv Eikon. Crude exports from Latin America's newest oil producer almost tripled in 2022, encouraged by rising production and solid demand in Europe in the aftermath of the Ukraine invasion. Total exports represented over $8 billion in gross oil revenue, based on Reuters calculations.

Search resuls for: "Guyanese"

8 mentions found