3. French Guyana – France bans oil and gas exploration

France bans petroleum exploration in Guyana - Mr. N. Hulot and Mr. A. Schwarzenegger
France bans petroleum exploration in Guyana – Mr. N. Hulot and Mr. A. Schwarzenegger on photo.

France to ban all new oil and gas exploration in renewable energy drive.
‘Ecological transition’ minister says law will be passed later this year.

The minister, previously famed in France for his environmental activism and nature documentaries, also outlined proposals to increase the taxation on diesel and to “make decisions faster” to curtail pollution.

Mr Macron said he was opposed to exploration for gas and favoured a ban on fracking during his election campaign, particularly in the overseas territory of French Guiana.
But Mr Hulot was among those warning that any ban would trigger lawsuits from energy companies and saying change must be imposed gradually.

Around 75 per cent of France’s electricity is currently provided by nuclear power stations, with the industry employing around 200,000 people and led by state-owned EDF.

A law was passed last year to reduce the nuclear proportion to 50 per cent by 2025, sparking controversy over potential job losses and the closure of up to 20 reactors.

Mr Macron reinstated his commitment to the law last month but has evaded concrete targets for the ultimate aim of making France run completely on renewable energy.

The President is also planning a huge renovation programme for French homes to reduce energy consumption, cut carbon dioxide emissions, reduce energy poverty and create jobs.

He and Mr Hulot discussed renewable energy schemes and global warming with Arnold Schwarzenegger, the actor and former Governor of California, as part of his trip to France on Friday.

Mr Schwarzenegger said he was honoured to speak to Mr Macron and ministers about “how we can work together for a clean energy future” and was seen posing with a T-shirt reading “Make Our Planet Great Again” with Mr Hulot.

The Hollywood star has publicly sparred with Donald Trump, a fellow Republican and Apprentice host over climate change and the President’s decision to withdraw the US from the historic Paris accords.

France was among the countries heavily criticising the decision, with the government posting an annotated White House video on social media refuting the President’s claims that the agreement was a “bad deal” for the US.

Lizzie Dearden @lizziedearden Saturday 24 June 2017 11:42 BST101 comments

From: The Independent Online, 23th June, 2017.

http://www.independent.co.uk/news/world/europe/france-ban-new-oil-gas-exploration-stop-granting-licences-macron-hulot-renewable-energy-drive-a7806161.html

2. What Guyana needs to know about ExxonMobil—Pt 4…ExxonMobil shows two faces to investors, partners

What Guyana needs to know about ExxonMobil – Part 4:  ExxonMobil shows two faces to investors, partners

In one way or the other, Guyana has certainly paid the price for its ignorance.
It has paid the price for its failure to conduct due diligence on several companies, for its failure to monitor the operations of entities; for its failure to craft air-tight contracts/agreements which can safeguard the nation against the abusive and greedy nature of some mega-corporations. It has paid for failing to learn from the mistakes of other nations.
With such a wealth of experience in making all the wrong moves for one reason or the other, Guyanese are in their right to ask themselves a most salient question when facing an oil giant like ExxonMobil: CAN THEY BE TRUSTED?
In recent weeks, Kaieteur News embarked on a series of articles which served to enlighten the citizenry on all they need to know about a company with which Guyana is going to sign a life changing contract.
Through detailed research, this publication has presented the facts on how ExxonMobil seems to have a pattern of entering weak nations with non-transparent governments.
All are rich in oil but their people are still no better off today. It was also exposed how ExxonMobil has a history of underpaying royalties in territories it operates. Its own mother country, the United States, was no exception from this type of behaviour.
In this installment Kaieteur News will show how ExxonMobil is now facing several lawsuits, including one for allegedly deceiving its shareholders in the US.
According to www.theguardian.com, (https://www.theguardian.com/business/2017/may/31/exxonmobil-climate-change-cost-shareholders )
ExxonMobil was forced to be more frank with its shareholders regarding the effect climate change will have on the operations and profitability of the company.
The report by the Guardian notes that Climate Change poses a real threat to the sustainability and the manner in which ExxonMobil will continue to operate its business in the future. Climate Change, the article notes, is a “material financial threat” for ExxonMobil.
But that is not all. ExxonMobil is currently under investigation by the Offices of the New York Attorney General and Massachusetts for being deceitful about climate change, something the company, of course, has denied.
According to the www.nytimes.com, (https://www.nytimes.com/2015/11/06/science/exxon-mobil-under-investigation-in-new-york-over-climate-statements.html) , an investigation is being carried out to determine whether the company has been truthful to the public on the issue of climate change or if it deceived its investors about the impact the challenging issue can have on the business.
Attorney General Eric T. Schneiderman issued a subpoena to Exxon Mobil, for extensive financial records, emails and other documents that would be helpful to the investigation, the NY Times reported.
The media outlet said, “The investigation focuses on whether statements the company made to investors about climate risks as recently as this year were consistent with the company’s own long-running scientific research.”
“The inquiry would include a period of at least a decade during which ExxonMobil funded outside groups that sought to undermine climate science, even as its in-house scientists were outlining the potential consequences — and uncertainties — to company executives.”
In short, ExxonMobil was actually paying lobbyists to deny the impact of climate change.
ExxonMobil has been accused over the years of funding certain groups and government officials/parties to promote disinformation about the effects of climate change. It has of course denied this to the end, but the media reports on this matter are overwhelming.
The Guardian (www.theguardian.com) is just one media site which has placed this issue in the spotlight. The news entity has reported that ExxonMobil has been funding anti-climate groups such as the American Legislative Exchange Council (Alec). It based this conclusion on tax records. (https://www.theguardian.com/environment/2015/jul/15/exxon-mobil-gave-millions-climate-denying-lawmakers)
In addition to the aforementioned, civil proceedings have been filed against ExxonMobil by some of its own shareholders who feel deceived by the company regarding the truth about climate change and the toll it will take on the business’s fortunes as most nations are being encouraged to move in the direction of cleaner sources of energy.
According to www.insideclimatenews.org. (https://insideclimatenews.org/news/18112016/exxon-climate-change-research-oil-reserves-stranded-assets-lawsuit), the deception by ExxonMobil led to the investors paying inflated prices for Exxon stock and subjected them to financial losses because the company knew the value of its oil reserves was less than what it was telling investors. This was also noted in the lawsuit which was filed in a Texas federal court this year. (see link for full lawsuit: https://www.documentcloud.org/documents/3215695-Class-Action-Exxon-Complaint.html) .
In the court action, the plaintiff is calling for compensation for all damages sustained as a result of the defendant’s wrongdoing, in an amount to be proven at trial, including interest thereon.
The plaintiff is of the firm belief that, “During the Class Period, as detailed herein, Defendants made false and misleading statements and engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of Exxon common stock and operated as a fraud or deceit on Class Period purchasers of Exxon common stock by misrepresenting the value of the Company’s business and prospects by overstating its earnings and concealing the significant defects in its internal controls.”
The lawsuit goes on to state, “As Defendants’ misrepresentations and fraudulent conduct became apparent to the market, the price of Exxon common stock fell precipitously, as the prior artificial inflation came out of the price. As a result of their purchases of Exxon common stock during the Class Period, plaintiff and other members of the class suffered economic loss, i.e, damages, under the Federal Securities Laws.”
Adding to ExxonMobil’s climate change woes, is the fact that even the Security Exchange Council (SEC) has also launched an investigation in an effort to ascertain if the oil king has been completely honest with investors about climate risks and accounting issues concerning its reserves.

CONCLUSION
With the aforementioned in mind, it would not be irrational for Guyanese to urge Government officials to be wary of the nature of the oil king it is dealing with and to act cautiously.
It would not be unreasonable for Guyanese to urge the Government to monitor the operations of the entity; to craft an air-tight contract/agreement that will safeguard the nation against the abusive and greedy nature of this mega-corporation.
It would not be unreasonable to call on the Government to learn from the painful and irreversible mistakes made by other nations.
Failure to do so, would surely lead the nation into a position where 10 years later, it would be worse off than it is today.

From: www.kaieteurnewsonline.com – June 28th – 12:55 AM

”  All-in-1 Consultant,  Available-to-Serve-You.

For grounded, vintage stewardship to successfully find lots of oil, mineral resources, develop your business and get sustained value for money ?

See <Contact & Contract Me> at marcelchinalien@gmail.com “.

Doei, salu2, ciao, até logo, grüssen, cordialement, salut, добрый день, ajoo, tur kos bon mi dushi hendenan na Switi Sranan i mi famiri na switi Korsou, tan bun allamala !

1. Guyana Basin. ExxonMobil makes FID on Liza development offshore Guyana

Liza Phase 1 – V.13.06.18

1) Liza Phase 1 – Update @ June 20, 2018

The Liza Phase 1 development continues to rapidly progress, with the commencement of development drilling offshore Guyana.

Development drilling began in May for the first of 17 wells planned for Phase 1, laying the foundation for production startup in 2020.

Liza Phase 1 is expected to generate over $7 billion in royalty and profit oil revenues for Guyana over the life of the project. Additional benefits will accrue from other development projects now being planned.

Liza Phase 1 involves the conversion of an oil tanker into a floating, production, storage and offloading (FPSO) vessel named Liza Destiny, along with four undersea drill centers with 17 production wells. Construction of the FPSO and subsea equipment is under way in more than a dozen countries.

“The Longtail discovery is in close proximity to the Turbot discovery southeast of the Liza field,” said Steve Greenlee, president of ExxonMobil Exploration Company. “Longtail drilling results are under evaluation. However, the combined estimated recoverable resources of Turbot and Longtail will exceed 500 million barrels of oil equivalent, and will contribute to the evaluation of development options in this eastern portion of the block.”

The release said that ExxonMobil is currently making plans to add a second exploration vessel offshore Guyana in addition to the Stena Carron drillship, bringing its total number of drillships on the Stabroek Block to three. The new vessel will operate in parallel to the Stena Carron to explore the block’s numerous high-value prospects.

The release said that the Noble Bob Douglas is completing initial stages of development drilling for Liza Phase 1, for which ExxonMobil announced a funding decision in 2017.

Phase 1 will comprise 17 wells connected to a floating production, storage and offloading (FPSO) vessel designed to produce up to 120,000 barrels of oil per day.

First oil is expected in early 2020. Phase 2 concepts are similar to Phase 1 and involve a second FPSO with production capacity of 220,000 barrels per day. A third development, Payara, is planned to follow Liza Phase 2.

http://news.exxonmobil.com/press-release/exxonmobil-advances-liza-phase-1-development

500,000 bpd forecast based on production from Liza, Payara and Pacora.

Oil production forecast 500,000 + bbls/day.

Oil production in Guyana is expected to surpass the 500,000 barrels per day mark by the end of the next decade based on production from several offshore developments.

OilNOW recently sat down with ExxonMobil Guyana’s Senior Director, Public and Government Affairs, Kimberly Brasington for an outline of what that projection is based on, and this is what she had to say;

2) ExxonMobil makes FID on Liza development offshore Guyana
HOUSTON, June 16, 06/16/2017, By OGJ editors

ExxonMobil Corp. has made a final investment decision on the first phase of development for Liza field 190 km offshore Guyana.
The company also reported results from the Liza-4 well, which the firm said encountered more than 197 ft of high-quality, oil-bearing sandstone reservoirs and will underpin a potential Liza Phase 2 development.
Gross recoverable resources for the 6-million-acre Stabroek block are now estimated at 2-2.5 billion boe, including Liza and the Liza Deep, Payara, and Snoek exploration wells (OGJ Online, Mar. 30, 2017).
The Liza Phase 1 development includes a subsea production system and a floating production, storage, and offloading vessel designed to produce as much as 120,000 b/d of oil. The FPSO contract was let to SBM Offshore NV late last year (OGJ Online, Dec. 20, 2016).
Liza field lies in 1,500-1,900 m of water. Four drill centers are envisioned with a total of 17 wells, including 8 production wells, 6 water-injection wells, and 3 gas-injection wells.

ExxonMobil last month let an engineering, procurement, construction, and installation contract to Saipem SPA for work on risers, flow lines, and associated structures and jumpers (OGJ Online, May 10, 2017). The contract also includes transportation and installation of umbilicals, manifolds, and foundations for production as well as water and gas injection systems.
Production is expected to begin by 2020, less than 5 years after discovery of the field. Phase 1 is expected to cost just more than $4.4 billion, which includes a lease capitalization cost of $1.2 billion for the FPSO facility, and will develop 450 million bbl of oil.
ExxonMobil submitted an application for a production license and its initial development plan for Liza field in early December. The development has received regulatory approval from the government of Guyana.
Esso Exploration & Production Guyana Ltd. is operator with 45% interest. Hess Guyana Exploration Ltd. has 30% and CNOOC Nexen Petroleum Guyana Ltd. 25%. Esso E&P Guyana also operates Canje and Kaieteur blocks offshore Guyana.
Drilling of the Payara-2 well on Stabroek is expected to commence in late June and will also test a deeper prospect underlying the Payara oil discovery.

Guyana Basin – ExxonMobil – FID – Lisa development plan

From: http://www.ogj.com/articles/2017/06/exxonmobil-makes-fid-on-liza-development-offshore-guyana.html

”  All-in-1 Consultant,  Available-to-Serve-You.

For grounded, vintage stewardship to successfully find lots of oil, mineral resources, develop your business and get sustained value for money ?

See <Contact & Contract Me> at marcelchinalien@gmail.com “.

Doei, salu2, ciao, até logo, grüssen, cordialement, salut, добрый день, ajoo, tur kos bon mi dushi hendenan na Switi Sranan i mi famiri na switi Korsou, tan bun allamala !

4. An exhilarating Morgan in Leiden, the Netherlands

3. A really exhilarating Morgan ARP 4.
Leiden (Rapenburg, Nonnenbrug, in front of the historic University Academie building), my Alma Mater in the Netherlands.

”  All-in-1 Consultant,  Available-to-Serve-You.

For grounded, vintage stewardship to successfully find lots of oil, mineral resources, develop your business and get sustained value for money ?

See <Contact & Contract Me> at marcelchinalien@gmail.com “.

Doei, salu2, ciao, até logo, grüssen, cordialement, salut, добрый день, ajoo, tur kos bon mi dushi hendenan na Switi Sranan i mi famiri na switi Korsou, tan bun allamala !

Leiden, the Netherlands:

A university city since 1575, Leiden houses Leiden University, the oldest university of the Netherlands, and Leiden University Medical Center. Leiden is a city with a rich cultural heritage, not only in science, but also in the arts. One of the world’s most famous painters, Rembrandt, was born and educated in Leiden. Other famous Leiden painters include Lucas van Leyden, Jan van Goyen and Jan van Steen. The city has been one of Europe’s most prominent scientific centres for more than four centuries. Modern scientific medical research and teaching started in the early 18th century in Leiden with Boerhaave. Many important scientific discoveries have been made here, giving rise to Leiden’s motto: ‘City of Discoveries’.

Leiden University is one of Europe’s top universities, it boasts thirteen Nobel Prize winners, it is a member of the League of European Research Universities and positioned highly in all international academic rankings. It is twinned with Oxford, the location of the United Kingdom’s oldest university. Leiden University and Leiden University of Applied Sciences (Leidse Hogeschool) together have around 35,000 students. Leiden is a typical university city, university buildings are scattered throughout the city and the many students from all over the world give the city a bustling, vivid and international atmosphere.
From: en.m.wikipedia.org

Morgan ARP 4:

In this, the 65th year of Plus 4 production, Morgan are pleased to announce the AR P4. Since 1950, the exhilarating Morgan +4 has been the mainstay of Morgan production and to celebrate this, a strictly limited run of 50 will be built. Each hand assembled and tuned by Morgan’s experienced AR Motorsport technicians. With enhanced on-road performance and driver comfort in mind, each car embraces a powerful Cosworth two litre engine, new interior and an extended list of standard features.

2.0 LITRE COSWORTH ENGINE
A special car requires a special engine, one that has been developed to give drivers the ultimate driving experience. Cosworth, famous for over 50 years of racing success at all levels, provide their 2.0 litre engine for the ARP4. Developing 225bhp, the ARP4 is the most powerful production Plus 4 ever built.

Text: www.morgan-motor.co.uk.

2. Morgan in Leiden, the Netherlands

The Morgan Motor Company Ltd. was established in 1909 by H.F.S. Morgan with the design of the Morgan three-wheeler. A four-wheeled model began production in 1936, and Morgan cars have long become famous the world over for their unique blend of charisma, quality materials, craftsmanship and performance.

The ethos at Morgan remains unchanged: all our cars are coach built and subjected to continual development in order to meet current standards of safety and to offer the responsive thoroughbred performance with which our name is associated. The development of our model-range has taken the marque into the 21st Century, and today Morgan builds in excess of 1300 cars per year. The Aero 8, a major achievement for a small Company, was launched in 2000, and continual evolution of the Aero Range has seen the 8 joined by the dramatic Aero SuperSports and its fixed-head sibling, the Aero Coupe. In 2011 we re-launched the Morgan 3 Wheeler, a modern interpretation of H.F.S. Morgan’s classic design. Our ‘Classic’ range continues to be our flagship vehicle – with models including the 4/4, the world’s longest-running production vehicle, and engine sizes ranging from 1600cc to 4800cc, these famous icons are the models perhaps most associated with Morgan.

Morgan is extremely proud of its heritage. We have established ourselves as a manufacturer synonymous with pure excellence, reinforced over time by our adherence to superior principles, higher standards and the best craftsmanship. Leading design capability, an extensive array of luxurious materials and the latest drive-train technologies combine to create an unparalleled driving experience.

The family atmosphere at our factory in the beautiful spa town of Malvern, Worcestershire, is one we cordially extend to our customers. Prospective owners are encouraged to visit us to watch their car being built and to choose from our wide paint and leather-trim ranges, along with the optional extras that will stamp their own individuality upon their Morgan; whether it be the lively ‘Classic’ range sports car, the extravagant high performance ‘Aero’ supercar or the truly unique Morgan 3 Wheeler, every last detail of a Morgan is tailored to the customer’s specification.

We invite everyone to witness the charms and the technology for themselves at our on site visitor centre

www.morgan-motor.co.uk Continue reading “2. Morgan in Leiden, the Netherlands”