Hydrogen

2024, 07/10

France supports green hydrogen project

T&T is a dynamic and globally welcoming country for investment, says Ambassador Didier Chabert, but the business environment needs to be improved. Chabert said France and T&T established diplomatic relations 62 years ago and became economic partners.

The assets for French investors are well known, but improvements could facilitate new investments:

1. 1. 1. limited external convertibility of the Trinidad dollar, while
      2. companies have to pay suppliers in US dollars;
      3. lack of labour market flexibility for foreign companies and
      4. obtaining a work permit, difficult for a foreigner and difficult to renew.

“I know companies in high-tech sectors that have left T&T for that reason.”

He said customs procedures are sometimes tardy and complex and could slow down economic trade

“I am thinking in particular of the agri-food sector, where it is essential that goods can be delivered quickly.”

Asked how important it is to improve its business environment, Chabert said he knows the government is very committed to this issue, particularly to improving T&T’s international rankings in the ease of doing business and this should be applauded.

However, he stressed how important it is for T&T to be able to get off the list of non-cooperative tax jurisdictions.

“There are now only 12 countries in the world on that list. This affects the image of T&T, while the European Union (EU) is ready to work to help put in place the necessary measures to achieve this.”

The EU list of non-cooperative tax jurisdictions includes countries that either have not engaged in a constructive dialogue with the EU on tax governance or have failed to deliver on their commitments to implement the necessary reforms. The EU list of non-cooperative jurisdictions for tax purposes was established in December 2017. It is part of the EU’s external strategy on taxation and aims to contribute to ongoing efforts to promote good tax governance worldwide.

In terms of investments between the two, the ambassador highlighted that with the arrival of the Teleperformance company, which launched its 84th global location in T&T in 2022,

France has become the foreign country that has created the most jobs in the last two years “and it is a pride for us.”

French companies such as Perenco, a hydrocarbon producer, Technip Energies, CMA-CGM, a shipping and logistics company and SOGET, a leading Port Community System (PCS) operator brought their world-renowned know-how..

In the energy sector, he highlighted that Trinidad announced its intention to develop green hydrogen and France, a leader in this sector, is ready to carry out an investment project of US$300 million with Hydrogen de France (HDF Energy), a global pioneer of high-power hydrogen power plants.

This project is of strategic importance for employment and the industrial future of the ammonia industry, which will have to rely increasingly on non-carbon energy to export to its main markets, and is strategic for the climate resilience.

“This remarkable project on the economic, technological, and ecological level, which will hopefully contribute to the creation of jobs in the country, is supported by France and the European Union and we hope that it can be implemented quickly, if the Trinidad government gives the go-ahead. If this happens, it will be the biggest investment made by a foreign company in T&T since 2020.”

On the burning issue of crime, Chabert said it is a problem for the country, population, and the business community.

“I fully support the President of Amcham T&T Stuart Franco calling on the Government and private sector to put aside their differences and work together to solve this country’s crime problem.”

It is also important to underline that crime is a major topic for the entire Caribbean and not just for this country.

“France cooperates closely with the Trinidad authorities to fight against the trafficking that feeds this scourge, in the first place the illegal trade of drugs and arms. Joint training at the level of security forces and naval forces takes place regularly between our two countries and is mutually beneficial.”

He said Russia has shamelessly transgressed international law by not respecting the borders and the sovereignty of a United Nations member state and has constantly violated international humanitarian law.

Domestically, the Russian regime arrested opponents, muzzled the press, and created an atmosphere of fear to silence any criticism.

“There is a reality that civilian populations being bombed, women raped and children killed are Ukrainian and the aggressors are Russian.”.

Beaming with pride, he said holding the Olympic Games in Paris is a great feeling for all of France.

“We hope that the opening ceremony will be beautiful, spectacular and will make a memorable impression for spectators in person or on television. Whether the results of the competitions will live up to expectations will depend on the athletes . Still, everything has been done so they can compete in the best conditions ever.”

He said it still seems difficult to assess precisely the impact of the organisation of the games on public finances. Still, as a range, these Games are expected to cost between 3 and 5 billion euros. Only two sites have been built: the Olympic and Paralympic Village, and the Aquatic Centre. The rest of the infrastructure already existed.

 

 

 

Guyana committed to strong partnership with new UK Government

July 5, 2024

Guyana congratulated the new Government of the United Kingdom. President, Dr Mohamed confirmed Guyana’s unwavering commitment to greater alliances.

“Today, I had the pleasure of speaking with the UK’s new Foreign Secretary, the Right Honourable David Lammy. I congratulated him and his government and assured him of Guyana’s strong friendship and partnership. I updated him on the impact of Hurricane Beryl on the region and the need for support and collaboration from the international community. Regarding our sovereignty and territorial integrity, he assured me of the continued support of the United Kingdom.”

The conversation o included further economic prospects and future investments. President Ali expressed optimism about bilateral relations and investments.

“We also discussed our bilateral relationship, investments, and the UKEF support for the development of Guyana.”

The UK Foreign Secretary, is of Guyanese heritage and expressed enthusiasm about the potential of his new role.

“It is the honour of my life to be appointed Secretary of State for Foreign, Commonwealth and Development Affairs. The world faces huge challenges, but we will navigate them with the UK’s enormous strengths. We will reconnect Britain for our security and prosperity at home.”

The appointment will promote further engagement between the UK and the Commonwealth, with his heritage as an advantage. The distinctive background and notable commitment to international foreign policy will firmly place the UK in the right direction for global advancement.

 

 

 

Guyana’s envoy leads delegation to OACPS

July 29, 2024

On July 17, 2024, His Excellency Mr. Sasenarine Singh assumed his duties as Guyana’s Ambassador to Belgium and Permanent Representative to the European Union and the Organisation of African, Caribbean, and Pacific States (OACPS). With great enthusiasm, he led Guyana’s delegation to the 117th Session of the Council of Ministers of the OACPS, held in a hybrid format from July 23 to 26, 2024.

The Council meeting was presided over by Senator Kamina Johnson Smith, Minister of Foreign Affairs of Jamaica. It saw the participation of officials from the 79 Member States of the OACPS.

Over the course of four days, the meeting received presentations from candidates vying for the post of Secretary General of the Commonwealth, reviewed the work of the OACPS Secretariat over the last six months, considered the budget for 2024, reviewed the work plan of the Organisation for the next 6 months, and discussed the implementation of the 2023 Samoa Agreement.

Additionally, the OACPS will celebrate its 50th anniversary in 2025. The meeting took the opportunity to engage in in-depth deliberations on the future of the Organisation and the necessary changes to ensure it remains fit for purpose.

Guyana is a founding member of the OACPS, established under the Georgetown Agreement signed in Guyana in 1975. The Government of Guyana remains committed to the long-term vision of the OACPS and its future success.

New UK PM a champion for human rights

5 July

British Prime Minister Sir Keir Starmer, KC, was hailed as a champion of human rights in the  region by the local law fraternity, with which Starmer, a former director of public prosecutions (DPP) in the UK, has strong ties. The leader of the Labour Party, became prime minister after the UK general election on July 4. He replaces Rishi Sunak, who stepped down as prime minister and leader of the Conservative Party after his Conservative party, lost over 200 parliamentary seats. Labour made a corresponding gain.

A strong connection with Trinidad and Tobago

Rajiv Persad, head of Allum Chambers in Port of Spain,who has known Starmer for over 25 years described him as a passionate lawyer who enjoyed criminal law from both the defence and prosecution sides.

“My first case with him was in 1997. Keir and the chamber were able to persuade the Privy Council that a woman suffered a miscarriage of justice. So, as a young lawyer,  getting to be exposed to these people was a great opportunity.”

Starmer worked closely with Allum Chambers, being based there whenever he was in Trinidad and Tobago.   Persad said he was well regarded in the Privy Council for his work in human rights in the late 90s and early 2000s, particularly in challenging the mandatory death sentence.

Starmer gave his services pro bono in regional cases involving the death penalty. Thanks to the work of Starmer and a team of lawyers, the Board of the Privy Council ruled that the mandatory death penalty constituted inhuman or degrading treatment but it maintained that it was Parliament’s responsibility to get rid of a mandatory death penalty, not the courts’.

Douglas Mendes, SC, who worked with Starmer on the anti-death-penalty cases, described him as an attorney of the highest calibre and devoted to human rights.

“The fact that he was doing human-rights work pro bono in the Caribbean would give you an idea of his outlook. He was willing to spend the time to ensure the rights given in the Constitution are upheld.”

Mendes added that working on death-penalty cases, ensuring human rights were afforded to people whom society had rejected, also showed his devotion to the cause. Starmer was also involved in other high-profile cases. Persad said he led Allum Chambers and other attorneys in one of the matters involving businessmen Ish Galbaransingh and Steve Ferguson and the Piarco Airport corruption issue, representing the two in extradition matters.

“He has had a really long history with TT,” Persad said.

Starmer addressed the Hugh Wooding Law School in 2011 as Britain’s DPP. He told law students a prosecutor has a broader role as an official of the law court than simply being an advocate for the state and had the role of advising the police, ensuring evidence is lawful, ensuring a fair trial and upholding the rights of victims and witnesses.

Persad said  long before 2011, Starmer came to train Caribbean lawyers on the death penalty and fair-trial rights. He imparted knowledge to members of the Privy Council on human rights.

He lectured the Criminal Bar Association at the Hall of Justice, discussing the topic: “Must the prosecution of criminal cases be at the expense of human rights?”

He told lawyers there needed to be a balance between respecting human rights and prosecuting offenders. As DPP in the UK, Starmer worked with the government and the Trinidad and Tobago DPP, through the British High Commission, to provide support and expertise in the prosecution of cases .

“His position was that legal process had to be done with the constitution of whatever country you were dealing with,” Persad said.

Both Persad and Mendes lauded Starmer’s measured and analytical approach to decision-making, which would make for a good leader.

“The fact that he is such an experienced lawyer, you can expect that he would adopt a very analytical approach to any problem he would have to deal with and work out all the arguments for and against and make the best decision,” Mendes said.

“One of the things I have always admired about Keir was his measured, proportionate approach to dealing with issues,” Persad added. “He has this ability to look at an issue and examine it and try to make the fairest decision . That is always something that you want in a leader.”

Mendes suggested his history as a human-rights lawyer may influence Starmer’s approach to foreign policy. He said it would influence his approach to the promotion of human rights in Britain and his approach to foreign policy.

“It’s being reflected in the things he is saying. He is obviously on the side of the marginalised; he is obviously concerned about ordinary working people and how their lives are being affected, and what government can do for them.”

Starmer has a working-class background. In his inaugural speech, he told the British: “Whether you voted Labour or not – in fact especially if you did not – I say to you, directly: My government will serve you…. Politics can be a force for good. We have changed the Labour Party and brought it back to service. And that is how we will govern. Country first, party second.”

He said a change in Britain would require politicians focused on public service, stability and moderation.

“For too long now, we have turned a blind eye as millions slid into greater insecurity…I want to say very clearly to those people – not this time. Changing a country is not like flicking a switch. The world is now a more volatile place. This will take a while. But have no doubt that the work of change begins – immediately.”

Opposition Leader Kamla Persad-Bissessar, SC, congratulated Starmer on becoming the 58th British prime minister. She recalled working with him in his role as UK DPP.

“Having shared a very cordial professional relationship with Starmer, I can say with utmost confidence that the new tasks of his premiership will undoubtedly be aided by his long experience as a barrister specialising in human rights issues, his dynamic public service leading the Crown Prosecution Service as DPP and his people-centred representation of the constituency of Holborn and St Pancras.

Truly, Sir Keir’s impressive track record of legal expertise, combined with his humility, his unmatched spirit of public service and commendable instinct to assist all persons and countries the world over to achieve their social and legal strengths, sets the platform for a premiership that promises to not only deliver holistic, progressive development for the UK but the world as a whole.”

Energy Traders buy Refineries from Big Oil

by Bloomberg|Archie Hunter & Serene Cheong, July 04, 2024

Commodities traders flush with cash are buying oil refineries that energy majors are increasingly turning their back on.

It’s one of the areas where trading houses — who have long coveted the refining and distribution assets that drive oil majors’ mega trading earnings — are investing huge returns from the most profitable period in their histories.   Owning those assets offers a chance to have more options when making trades, greater exposure to physical and paper markets and better insight into fuel supplies.

The sites are coming up for sale as Big Oil faces shareholder pressure to trim portfolios to focus on assets with the best returns, while also offloading or cleaning up major polluting businesses like refineries. There are numerous examples.

Bloomberg last month reported that trading giant Vitol Group bid for assets of US refiner Citgo Petroleum Corp., following a two-year deal spree in which it invested in Italian refiner Saras SpA and fuel stations in Turkey and South Africa.   Glencore Plc is part of a venture that agreed to buy Shell Plc’s Bukom refinery in Singapore, while a consortium including Trafigura Group is in exclusive talks to buy France’s Fos-sur-Mer refinery.

“Recent sales have largely gone to private equity, but increasingly traders are coming in” to investment in refineries, said Liz Martin, a former BP Plc trader.

Gaining a foothold in the refining industry gives traders more options when deciding whether to send certain oil grades to their own refinery or elsewhere, such as in the open market — depending on what makes more money.

“The traders see an opportunity to end up with a plant that can run a slew of different crude oils,” said Kurt Chapman, a board member of trader Levmet and former head of crude at Mercuria Energy Group Ltd.

Another benefit of having a backstop for cargoes is that it lets traders be bolder in physical windows that ultimately set regional benchmark prices. Plus, it gives them more reason to take paper positions to hedge their physical exposure, allowing them to be bigger players in swaps and futures markets.

“If you have an outlet for Midland WTI in Europe because you’ve taken on a refining asset, then you have direct physical influence on the pricing mechanism.

Refineries “give you insights into what the underlying is doing and allows you to potentially leverage that in the paper markets to enhance your trading.”

Some upstream producers have traditionally been reluctant to deal with merchants selling on their cargoes at a profit, so owning a refinery puts traders in a better position to strike supply deals because plants are an important buyer of crude barrels.

Securing those supplies can provide more of an idea on volumes and timing of competitors’ cargoes as well, aiding trading decisions. The refineries that traders have recently bought are typically located in major trading hubs like the Mediterranean Sea and Singapore Strait, which makes them accessible for delivering a wide range of crude types.

The deals have generally been for stakes or as part of consortiums, rather than outright acquisitions on their own, as traders tend to be most interested in obtaining crude procurement rights for these plants.

Blockbuster profits have given commodity traders the cash to invest in assets like refineries, as well as build out metals and agriculture teams but another key aspect of the refinery push is availability. Plants around the world are coming up for sale at knockdown prices. Despite good margins, companies like BP, TotalEnergies SE, Shell and Exxon Mobil Corp. have been shedding assets that they no longer consider a core part of their business.

Oil majors are also under pressure from institutional investors to cut emissions. One option is to spend money upgrading refineries to become more efficient or make greener fuels. Another is to offload them altogether.

“Shareholders want companies to reduce greenhouse gas emissions, and one way of doing that is to sell refineries,” said Steve Sawyer, of Facts Global Energy. “It doesn’t do much for the planet because buyers are going to run it in a similar way, but that’s a major reason why refinery owners are selling.”

Refining margins have historically been very cyclical and big fixed assets with volatile margins could potentially pose a risk for traders that are highly leveraged. Vitol’s profits at one point sunk to near zero as it struggled with the costs of upgrading Canada’s Come by Chance plant in the 1990s.

In 2020, tough trading conditions forced Gunvor Group Ltd. to close its loss-making oil refinery in Antwerp, Belgium, an asset it has since sold. Margins could become steadier as the industry slows investment in new refineries in anticipation of peak oil demand, even as fuel consumption across the developing world continues to grow rapidly.

“Something we’ve been saying for some time was that whilst there was a surge in refining capacity between about 2019 and 2025, there was very little planned for post-2025. That is still the case.” said Sawyer, who previously managed refining operations for BP.

 

 

 

T&T, Venezuela laud close relationship

2024, 07/18

Angostura Holdings Ltd CEO, Laurent Schun presented Venezuelan Ambassador Álvaro Sánchez Cordero with the first bottle of the Angostura Bitters 200-year special edition, as a special token of appreciation during the wreath-laying ceremony on the occasion of the 213th Anniversary of the Independence of Venezuela and the Day of the Bolivarian National Armed Forces of Venezuela,  at The House of Angostura July 5.

T&T and Venezuela collaborate in Energy, telecommunications and transport. Venezuelan Ambassador to T&T, Álvaro Sánchez Cordero gave details of the business and trade relationship between the two countries during his speech at Venezuela’s 213th Independence Day celebrations held on July 5 at Angostura House.

The most important project that both countries are working on now is the exploration of the cross-border and near-border gas fields between T&T and Venezuela, about which Sánchez spoke about “rapidly advancing” negotiations.

“In terms of energy, I would like to underscore the signing of the agreement for the exploration and exploitation of the non-associated gas from the Dragon field in October of 2023, as well as the issuing of a license for the said exploration and exploitation of non-associated gas to the National Gas Company (NGC) in December of 2023.

Equally, negotiations between both countries are rapidly advancing for the exploration and exploitation of the non-associated gas from the joint field of Cocuina – Manakin.”

In transport, he said Venezuela and T&T are regaining their connectivity. “Right now, a new Venezuelan shipping company, Playa Patanemo, partly owned by the Venezuelan State and partly owned by the private sector, which commenced travel this year between Güiria and Chaguaramas, bringing passengers and cargo. Venezuela stands ready to assist T&T in maritime transport. In September of last year, the Venezuelan cargo vessel La Emprendedora was sourced to service the inter-island sea-bridge while the MV Cabo Star ferry underwent repairs.”

Flights to Venezuela have resumed as two Venezuelan airlines, Rutaca and Venezolana, are now flying from Piarco to Margarita Island on charter flights; thus, strengthening not only connectivity but tourism links.

Foreign and Caricom Affairs Minister, Dr Amery Browne, said, at the celebrations, both countries have had a long relationship but in recent times there has been an emphasis on trade and investment in the energy sector.

“As T&T is literally the closest diplomatic neighbour on the South American continent, our commonalities are rich and varied. They include our cultural and culinary expressions, our frequent people-to-people exchanges, some of those have become more frequent in recent years. Our trade, investment and energy relations have got deeper, as well as our shared concerns on many matters on regional security, climate change and related issues.”

The relationship evolved over the years and now both countries have been heavily focused on developing their energy sectors. T&T shares a history of collaboration with Venezuela in many sectors.

In recent times, our focus has turned on enhancing cooperation in energy which was further bolstered by the issue of a very important exploration and production licence to the NGC of T&T in relation to the Dragon field in 2023.”

Strides in greater connectivity continue as business, tourism and trade ties increase.
“It has been both by air and by the sea bridge, carrying passengers and cargo and the continued collaboration between our respective national security teams. The first launch of a fast ferry with round trips from Güiria in Venezuela to Chaguaramas in T&T and use of the Venezuelan cargo ship La Emprendedora which replaced the MV Cabo Star in the transport sector.”

In terms of the local business sector, he praised Venezuelan nationals who now reside in T&T and have made a contribution to its culinary sector selling Venezuelan food at local restaurants and other food establishments.

“There has been a fusion of culinary offerings, which can now be found throughout T&T as our Venezuelan brothers and sisters added to the melting pot with our vast array of ethnicities and cultures. Now you can find really good empanadas and arepas alongside local cuisine at restaurants and street-food venues and have an easy breakfast.”

On diplomatic relations, both countries have shared interests in regional and international institutions that impact on life in Latin America and the Caribbean.

“These include the Association of Caribbean states (ACS), the Latin American economic system, the Community of Latin American and Caribbean States (CELAC), the Gas Exporting Countries Forum and the United Nations. It is not too late to mark Venezuela’s support for T&T’s candidacy for Office of the President of the General assembly of the United Nations.”

Angostura Bitters
CEO of Angostura Holdings Ltd, Laurent Schun, who spoke at the Independence Day event, highlighted Angostura’s 200 years of history, which ties in with Venezuela’s history and today, Angostura is a global leader in the bitters and spirits industry.

“When Dr Johann Siegert created what is now Angostura Aromatic Bitters in 1824, in that small town of the same name, it was born out of the desire to aid the health of Simon Bolivar’s troops and has become an indispensable ingredient in cocktails worldwide.

Today it is still used in Caribbean households. This historic bond between Angostura and Venezuela is a testimony to our shared relations. As Angostura celebrates its own 200th anniversary this year, we reflect on our journey with immense pride. Our journey from our early days in Venezuela to becoming a global leader in the bitters and spirit industry is testimony to the strengths of our values.”

Asked about the current business relationship between the company and Venezuela, the Ambassador said that there is potential.

“Angostura, based in T&T is open to exporting its products to Venezuela in the future.”

 

Young: State not served with ConocoPhillips order

2024, 07/03

T&T Energy Minister Stuart Young said that the State has not been served with any order of the High Court related to any ConocoPhillips matter or arbitral award against PDVSA.

Replying to Opposition United National Congress Senator Wade Mark, who asked about the Dragon gasfield development project Young told the Senate that, on the basis of the normal principles of company law and international law, there are no risks to the Dragon Field project as a result of the arbitration award to ConocoPhillips.

Mark noted the May High Court decision which recognised the 2018 ICC arbitration award to US-based ConocoPhillips against Venezuelan SOC Petroleos de Venezuela (PDVSA).
Mark sought the licensor for the licence entered into by Shell and the National Gas Company for the Dragon project,

1. 1. 1. what were the risks to the project as a result of the recognition of the arbitration award to ConocoPhillips? ;
      2. when did the Ministry become aware of the application to the Court for the recognition of the arbitration award? ; and
      3. which other government ministries, if any, were involved in the matter?

Young replied, “The licensor for the licence granted to Shell Venezuela SA and the NGC Exploration and Production Company in respect of the Dragon field was the Minister of the People’s Power for Petroleum on behalf of the Government of the Bolivarian Republic of Venezuela.

The licence, therefore, was granted by the Government of the Bolivarian Republic of Venezuela.

At this stage, the State has not been served with any order of the High Court related to any ConocoPhillips matter or arbitral award.

The matter appears to still be subjudice as well as there were recent media reports that the High Court Judge amended his original order. However, on the basis of the normal principles of company law and international law, there are no risks to the Dragon project as a result of the arbitration award to ConocoPhillips against PDVSA.”

Young said the application to the High Court for recognition of the arbitration award and the subsequent recognition of the arbitration award was made without any notice to the State or to any other entity as it was an ex parte application.

“The Ministry was made aware of this development when the matter was reported by media institutions. As indicated, the application to the High Court for the recognition of the arbitration award to ConocoPhillips and the subsequent order of the court was made without any notice to the State. Therefore, no Government Ministries were involved in the application to the High Court.”

On further queries, Young stressed that an arbitral award against a company, PDVSA, will not affect the Venezuelan government’s dealings with the licence for the project which was issued to Shell or NGC.

 

 

 

Population, Development and Rights in Latin America and the Caribbean

CEPAL  1 July 2024

Eleven years on from the adoption of the Montevideo Consensus on Population and Development and 30 years on from the adoption of the Programme of Action of the International Conference on Population and Development, in Cairo in 1994, this second regional report on the implementation of the Montevideo Consensus outlines progress in the implementation of its priority measures in Latin America and the Caribbean over the period 2018–2023, taking into consideration the specific characteristics of each country and the varying degrees of implementation.

By collating, systemizing and analysing a wide range of national information and experiences, and thus drawing conclusions and making recommendations that can be applied to the region, this document facilitates sharing of good practices among the countries. The report examines the progress and achievements of Latin America and the Caribbean in the implementation of the Montevideo Consensus, focusing on the major challenges and issues that remain in the population and development agenda for the region to advance in building more democratic, inclusive and just societies, leaving no one behind.

Published by ECLAC – United Nations

Link to original document

 

 

 

OAS cooperation to address threats

July 2, 2024

At the Fifty-Fourth Regular Session of the General Assembly of the Organisation of American States (OAS) in Asunción, Paraguay, under the theme “Integration and Security for Sustainable Development in the Region”, Guyana Minister of Foreign Affairs and International Cooperation, Hugh Todd stressed the importance of coordinated action and regional cooperation to effectively address significant geopolitical threats. The nature, intensity, and complexity of these threats make it clear that no single state can effectively confront their impact.

“Developing adequate resilience and response capability, and the strengthening of our collective security must be a point of common cause for all member states, grounded in mutual respect and our collective interest, we must remain unwavering in our determination that the region remains a Zone of Peace.”.

He urged the member states to work together to create a stronger organisation based on international law to focus on making the Americas safer, more sustainable, and prosperous for everyone.

Amid the longstanding border controversy with Venezuela, the minister affirmed that Guyana continues to rely on the support of the OAS and other bodies. Venezuela lays claim to five eights of Guyana’s territory, despite the full, final and binding arbitral award of 1899, which established the boundary between the two states. posing a significant threat to Guyana’s sovereignty and territorial integrity.

“This claim and the actions by the Venezuelan government in furtherance thereof, in violation of the most fundamental principles of international law, pose a significant threat to Guyana’s political independence, as well as the security and stability of the hemisphere.”

He emphasized the importance of the OAS in promoting peace, justice and solidarity among its member states. Guyana will continue to count on the support of the OAS as it seeks to implement the December 1, 2023, Order of the International Court of Justice (ICJ) and the Joint Declaration of Argyle for Dialogue and Peace between Guyana and Venezuela, while awaiting the ruling of the Court on the validity of the 1899 Arbitral Award.

“Guyana remains committed to the peaceful resolution of controversies or disputes in the region, based on the provisions of the United Nations Charter and the principles of international law.”

In December, Guyana and Venezuela signed the Joint Declaration of Argyle in Saint Vincent and the Grenadines, which affirmed that neither country will threaten or use force against the other in any circumstances. In the case currently before the International Court of Justice, Guyana is seeking that the court affirm the validity of the 1899 Arbitral Award.

 

 

Citgo Auction Planner Asks to Delay Sale Hearing Until September

Bloomberg|Oscar Medina & Fabiola Zerpa | July 01, 2024 |

An official overseeing the sale of PDV Holding, parent of Venezuela-owned Citgo Petroleum, asked for the court-ordered auction to be delayed until September.

Robert Pincus, the court-appointed special master in the case, asked to move the hearing to September 19, according to a motion filed on Friday. The auction, tentatively scheduled for July 15, would help satisfy over $20 billion in claims against Venezuela and state-owned Petroleos de Venezuela SA. Bids were due last week.

Leading companies in line to collect on the sale are Canadian miners Crystallex and Gold Reserve and US oil giant ConocoPhillips, according to court filings. Along with other claimants, the companies have over $20 billion in judgments against Venezuela for arbitration awards. Companies such as Vitol and Gold Reserve have shown interest in buying PDV Holding’s shares.

Venezuelan President Nicolas Maduro’s administration threatened legal action against any company that acquires shares of Houston-based Citgo. Venezuela’s opposition, backed by the US government, has been lobbying President Joe Biden’s administration to halt the sale ahead of the presidential election on July 28.

The case is Crystallex International Corp. v. Bolivarian Republic of Venezuela, 17-mc-00151, US District Court, District of Delaware (Wilmington).

 

 

 

NATO Summit

[Today’s dispatch is by Giedrimas Jeglinskas, nonresident senior fellow at the Atlantic Council’s Transatlantic Security Initiative and former assistant secretary general for executive management at NATO]

JULY 9, 2024 |

In my past job as a NATO official, I helped prepare for several of these summits, but none of them was quite like this one. This summit needs to deliver strong outcomes—not only because it’s the Alliance’s seventy-fifth anniversary, but also because we are in Washington (with the US presidential race heating up) and the world is proving more and more volatile, dangerous and uncertain.

That’s probably weighing heavily on the allied leaders who are crowding Andrew W. Mellon Auditorium this evening for the official summit opening, hosted by US President Joe Biden. For several of those officials—specifically eight from Nordic and Baltic countries—their first stop today was Atlantic Council headquarters, to discuss cooperation in NATO’s northeast.

It is the easternmost and northernmost allies—including my home of Lithuania, where I served as deputy defense minister—that intimately understand the nature of the Russian threat. Because of that common understanding, these countries demand more from themselves: All of them (except Iceland, which doesn’t have a standing military) exceed the NATO target of spending 2 percent of gross domestic product on defense.

The Nordic-Baltic agenda for the summit rests primarily on making sure the rest of the Alliance feels that sense of urgency. I’ll be watching closely to see whether NATO increases its defense budget targets and produces clarity on Ukraine’s path to joining the Alliance. But the Nordic-Baltic agenda also includes committing capabilities to implement NATO’s defense plans that were agreed to last year in Vilnius, and reaffirming US leadership in NATO while “future-proofing” the Alliance with strong commitments from Europe.

The communiqué released at the end of this summit will include dozens of carefully written paragraphs agreed  by consensus. Yet eloquent writing cannot make up for a lack of concrete decisions on capabilities, Ukraine, and investments.

75 years after NATO was created to counter threats posed by the Soviet Union, the group is back to mark its second diamond anniversary. The expanded military alliance recently welcomed Finland and Sweden into the fold and now consists of 32 countries that cover much of Europe, as well as Turkey, Canada, and the United States. Defense spending will be a big focus at the summit tonight in Washington, D.C., as well as how to best protect the group’s nearly 1B citizens given one of the most dangerous security environments since the end of the Cold War.

Up in arms: NATO membership for Ukraine is off the table for now, but the alliance will seek out ways to help the country hold the front line more than two years into a full-scale invasion by Russia.

NATO allies are expected to pledge an additional €40B of support to Kyiv to prevent the war from expanding into their territory, though some critics argue that may only embolden Moscow or create greater geopolitical risks in a multipolar world. Keeping the alliance strong and together is not the only problem nations will face at the summit, but many of the members have increasing political troubles at home, like in France and Germany, and even potentially in America.

President Biden told MSNBC,
“Our allies are looking for U.S. leadership. Who else do you think could step in here and do this? I expanded NATO. I solidified NATO. I made sure that we’re in a position where we have a coalition of people of nations around the world to deal with China, with Russia.”

However, there is also trouble brewing with Biden’s re-election campaign, with Stifel out with a fresh research note that assigned a 40% chance to him dropping out of the race.

Some strains have surfaced over military spending, with only 23 out of 32 NATO allies on track to meet 2024 targets of spending 2% of their annual GDP on defense. There will likely be calls for that number to be the floor, and not the ceiling, especially with members like Canada that have been dodging their commitments for a decade.

Outgoing NATO Secretary General Jens Stoltenberg has also noted the economic power of the alliance, outlining that “NATO allies have half of the world’s economy and half its military might.”

 

 

 

Russian warships visit Cuba

2024, 07/27

Three Russian warships arrived in Cuba, Moscow’s second such maritime voyage in as many months in a reflection of deepening ties between Russia and Cuba. The naval group, consisting of a training ship, patrol frigate and refuelling tanker, are expected to remain docked in the port of Havana until August 30.

The arrival of the vessels comes mere weeks after another squadron of Russian warships, including a powerful nuclear-powered submarine, visited Havana as part of planned military exercises last month.

American officials closely tracked the mid-June military exercises, saying that the four-vessel group posed no real threat. Experts described the warships’ Caribbean tour as a symbolic show of strength in response to continued U.S. and Western support for Ukraine.

Cuban defense officials announced the latest port call this week, calling the arrival of the Russian warships a “historical practice” and show of “friendship and collaboration.” Neither government elaborated on the purpose of this latest deployment.

The docking of the flotilla sparked a flurry of excitement among the general public, with Cubans strolling the port avenue to get a better glimpse of the warships and authorities saying interested visitors would be admitted on board the Russian training ship, Smolny.

“It’s a friendly thing. A bond between Russia and the Cubans.. I’m taking a family outing,” said Maydelis Perez, pointing the hulking warships out to her children.
Russia is a longtime ally of totalitarian Venezuela and Cuba and its warships and aircraft have periodically made forays into the Caribbean Sea and docked in Havana.

Though Cuba is not a key player in Russian foreign policy, experts say that Russia sees Cuba as strategically important given its continued clout among developing nations. Cuba and Russia, both under severe U.S. sanctions, strengthened political and economic ties in recent years, particularly as Moscow aims to boost diplomatic support for its war in Ukraine and Havana seeks whatever economic assistance it can get.

Cuba has consistently abstained on U.N. resolutions on the invasion of Ukraine and avoided criticism of Moscow’s war. Russia sold significant volumes of oil to Cuba which struggles under Washington’s economic embargo.

(AP)

 

 

 

Cuba ratchets up pressure on private business as crisis deepens

11 July Reuters

Cuba is tightening regulations on fledgling private businesses, reining in profits and beefing up oversight as the government wrestles with how best to manage fast-growing private enterprise in the communist-run country.

Two years ago, Cuban authorities lifted a ban on private companies, in place since early in former leader Fidel Castro`s 1959 revolution. But the government now says some of those businesses have gotten out of hand, contributing to snowballing inflation and economic crisis.

Cuba’s Council of Ministers, the highest administrative body on the island, held an “extraordinary” session this week during which it proposed six decrees aimed at “bringing order” to the country`s growing private sector, state-run media reported .

A spate of new regulations and enforcement actions signal growing tensions between privately held businesses and state-run companies that have long held monopolies across the economy. Earlier this week, the Ministry of Finance and Pricing capped prices on six key goods imported by private businesses –

1. 1. 1. chicken,
      2. vegetable oil,
      3. powdered milk,
      4. laundry detergent,
      5. pasta and
      6. sausages

– in a bid to slow soaring inflation. A government resolution also capped profits on those goods at 30 percent, a move officials said was necessary to contain prices but which some outside economists believe could lead businesses unhappy with such limits to stop selling those products.

Authorities conducted 1,079 on-site inspections countrywide to enforce the new caps, and said 393 companies, or 36pc, were in violation of regulations. Tax authorities separately said they had shuttered 15 private businesses for accounting irregularities and had identified 600 more suspected of “possible fiscal evasion.”

 

 

 

 

EU, UK Crackdown on ‘Shadow Fleet’ Carrying Russian Oil

Jov Onsat Rigzone Staff | July 19, 2024

Forty-four European countries including the United Kingdom plus the European Union agreed to work together to keep an alleged “shadow fleet” of oil tankers transporting Russian oil out of the seas.

London, which spearheaded the “call to action”, announced the agreement ahead of a rare address before the UK Cabinet on Friday by Ukrainian President Volodymyr Zelenskyy, during which the new government under Prime Minister Keir Starmer is expected to assure Kyiv of a fiercer stranglehold on Moscow’s war machine. The “shadow fleet” comprises about 600 vessels representing around 10 percent of global wet shipping, Downing Street said.

“It carries approximately 1.7 million barrels of oil per day, generating significant funds to fuel Russia’s war machine. Some of the ships are also alleged to double as Russian listening stations, while others are believed to be transporting weaponry to Russia”, the prime minister’s office added.

The UK also placed sanctions on several ships carrying Russian oil. One vessel, identified as the Rocky Runner, had sought to evade previous UK action by changing its operator. Russia’s “dark fleet” of oil tankers “are often old and unsafe, and engage in dangerous and deceptive shipping practices, such as turning off location tracking systems, which flouts international maritime standards, and increases the likelihood of catastrophic incidents”.

Last month the UK issued its first sanctions on Russia’s purported shadow fleet. This cohort of oil shipping entities, part of other sanctions designations by the UK against Russia that were announced June 13, consisted of four vessels. Two other vessels were designated for shipping weapons to Russia, while six companies, including one identified to be based in Singapore, were also sanctioned for “supporting the Russian liquefied natural gas sector”. One ship managing company was also on the list.

The prime minister’s office, then under Rishi Sunak, said, “Russia’s oil exports are Putin’s most critical revenue source for funding his illegal war in Ukraine. Tax on oil production collected by the Kremlin in 2023 amounted to 8.9 trillion robles, or 31 percent of Russia’s total federal revenues. Today’s sanctions aim to disrupt and increase the costs of Russia’s efforts to bypass UK and G7 sanctions through its shadow fleet”.

As part of efforts to deprive Russia of funds it could use in its war in Ukraine, price caps on Russian oil have been enforced by the Group of Seven (G7), including the European Union and Australia since December 5, 2022.

The caps started at $60 a barrel for Russian crude before expanding to include refined products with limits of up to $100 per barrel. The caps for refined petroleum products took effect February 5, 2023. Downing Street added that the oil tankers sanctioned last month have carried about 13 million barrels of Russian crude and oil products, worth approximately $930 million, since January.

Cabinet Address

In Zelensky’s meeting with the UK Cabinet, Starmer is expected to tell his visitor that the UK will go further in the coming months to place a greater stranglehold on Putin’s war machine.

Zelenskyy’s address before the UK Cabinet would be the first for a foreign leader in nearly three decades after United States President Bill Clinton in 1997. Zelenskyy would also be Downing Street’s first official visitor under the new Labor administration.

The two leaders are also set to agree on a defense export treaty, which would “fire up both the UK’s and Ukraine’s defense industrial bases and increase military hardware and weaponry production. The treaty will enable Ukraine to draw on £3.5 billion [$4.5 billion] of export finance, to support its armed forces.”

Starmer said “Ukraine is, and always will be, at the heart of this government’s agenda and so it is only fitting that President Zelenskyy will make a historic address to my Cabinet.

Russia’s incremental gains on the battlefield are nothing compared with the collective international support for Ukraine, or the strength of ties between our people. And alongside our European partners, we have sent a clear message to those enabling Putin’s attempts to evade sanctions: we will not allow Russia’s shadow fleet and the dirty money it generates, to flow freely through European waters and put our security at risk”.

 

 

 

 

Hurricane Beryl marks early season beginning

July 2 2024

After reaching category 5 in the Caribbean, Hurricane Beryl was not feared to reach Colombia’s Caribbean shores but would nevertheless significantly affect navigation in the area.

Strong winds hit Jamaica, sweeping away power lines and flooding the streets of other islands such as Grenada. Although not expected to make landfall, Beryl marked a premature start to this year’s Atlantic hurricane season.  Beryl caused great damage to Grenada’s islands of Carriacou and Petite Martinique. At least three people were reported dead with devastation everywhere.

Prime Minister Dickon Mitchell told media that “almost all homes have been affected and there is no electricity on the islands, while communications remain difficult.” 3,000 residents were advised to remain in shelters or avoid roads until further notice.

Colombia’s National Risk Management Unit issued a yellow “warning” in the Caribbean departments of Magdalena, and Atlántico and islands of San Andrés, Prudencia and Santa Catalina given “probable alterations of the oceanic conditions and the rains that could occur.”

The hurricane, swirling at a speed of around 35 km/h could bring maximum winds of 260 km/h, leaving waves of up to 3.4 meters.

The US National Oceanic and Atmospheric Administration (NOAA), forecast a season for this year in the Atlantic well above average, with up to 13 hurricanes feared in the radar. Beryl shocked meteorologists for its fast upgrade from a tropical storm causing havoc.

A Category 5 hurricane is the highest level on the Saffir-Simpson scale, which ranks hurricanes according to their sustained wind speeds. Hence, Beryl has sustained winds of at least 157 mph (252 km/h), which may lead to severe flooding in coastal areas.

The last Category 5 hurricane in July was Emily in 2005, which peaked on July 17 of that year. Hurricanes of this intensity are rare, and their occurrence outside the peak months of the hurricane season (August through October) is even rarer.

Beryl initially developed as a tropical wave between the coast of Africa and the Caribbean and quickly became a tropical depression, a tropical storm, and finally a hurricane. Strong winds are expected in Cuba but the bulk of the damage is believed to be in the Mexican State of Quintana Roo, on July 5, affecting Yucatan, Campeche, and neighboring Belize.The hurricane’s projected path could also threaten parts of the US East Coast.

Hurricanes and climate
Fishing vessels were damaged after Hurricane Beryl passed through Barbados on July 1. –
Dr Anjani Ganase reflects on the effects of devastating hurricanes

“I remember Flora. The sky was grey and the streets slippery with driving rain. It was my earliest remembered experience of howling wind and bending trees. This impression of powerful nature has never left me; and Trinidad was on the periphery of Flora.

I learned of the devastation to Tobago, the destruction of cocoa plantations and the people who died. I lived in proximity to hurricanes but never felt the full force. I’ve heard of the eye of the hurricane but never seen it.

I witnessed the whipping tail winds of Hurricane Ivan north of Trinidad in 2004, seeing it part trees in the valley . I was in Florida when Hurricane Wilma brought floods to the outskirts of destruction.

As I write, Hurricane Beryl passes north of Tobago and barrels towards Grenada and St Vincent and the Grenadines, to make landfall four hours later at Carriacou. Projections of the path for Beryl are known for two days. It reaches us with high winds and roaring seas, leaves Tobago and Barbados, St Vincent and the Grenadines without power, houses without roofs, felled trees, beached boats and rubble everywhere. I can only imagine the terror of those who were expecting the full brunt of a category 4 hurricane.

During research and practice, I investigated the impacts of hurricanes on coral reefs. On the tropical east coast of Australia, where the Great Barrier Reef (GBR) is exposed to cyclones, I was in a team investigating damage caused by Cyclone Ita in 2014, category 4 when it made landfall along the GBR. Reefs were churned , corals reduced to rubble thrown up on the reef by powerful waves which scoured and scraped corals off the seabed. Reef life was gone.

Hurricanes and typhoons, regional names, are all tropical cyclones. While human activities influence increase in global temperatures, the direct effect to changes in hurricane seasons, frequency and intensity is still unclear to scientists. Many factors influence hurricanes and dynamics – formation, trajectory – remain unpredictable. Scientists modelled changes in hurricane intensities, frequencies and amplified rainfall with climate projections and found that warming conditions are likely to increase hurricane wind and rainfall owing to greater evaporation and cloud storage of water vapour.

This likely translates to a higher proportion of category 4 and 5 storms (estimated at 25-35 per cent increase) and greater associated rainfall. Less clear is the frequency of hurricanes, as the number may remain consistent or even decline with a warmer future.

Other factors likely influence hurricanes, such as changes in the aerosols in the atmosphere, volcanic eruptions and Sahara heat and dust. The biggest concern to scientists may be combined impacts of severe hurricanes and sea-level rise.

As the rate of sea-level rise increases , hurricanes are more likely to cause severe coastal inundation and damage. With heavier rainfall, floods and landslips will increase in severity, increasing the risk to coastal communities and low-lying areas.

Trinidad, off the coast of Venezuela, is mostly spared as hurricanes enter the Caribbean Sea away from the South American continental shelf. Yucatan Peninsula, Florida, Bahamas and the northern section of the Lesser Antilles are regional hurricane hotspots. Northeast Tobago is often struck. Over the 160 years of storms tracked in the Caribbean region, Tobago experienced ten hurricanes and 35 tropical storms within 60 km of its coast. Miami Florida experienced 24 hurricanes (and some 50 tropical storms) over the same time.

While preparing for the short term to safeguard property and food supply, there is only so much one can do against a category 5 hurricane capable of snapping trees and removing roofs off even the most secure homes.

Preparedness at the community and national levels is key to long-term adaptation. The economic loss to damage justifies the need for medium- to long-term programmes in hurricane adaptation.

The most obvious is adapting building and infrastructure design of homes to withstand more intense hurricanes and allow functionality in the aftermath from energy generation and water supply.

Drainage to prevent flooding and water capture for drinking supply during the recovery phase can be closely tied to community and city planning. Development designs must be cohesive and suitable for all income groups. Collaboration between government, business and residents is crucial.

Strategies in nature-based solutions are essential for adaptable flood and coastal-erosion management and adding a natural aesthetic is an alternative to concrete. Programmes for recovery and rebuilding that enhance adaptations are preferable to repeating past mistakes hoping for a different outcome.

Adaptation is not a new concept. In 1974, Cyclone Tracy hit Darwin, Australia, destroying the town and killing. This led to a revamp of the building code and standards. Hurricane Flora devastated Tobago and the main economy – crop agriculture.

Flora changed the importance of disaster preparedness and sparked improvements in infrastructure and a shift toward other avenues for income. People adapt with little guidance, moving from plantations to tourism but devastation by a category 4 storm can cripple infrastructure for any industry.

Unfortunately, Caribbean authorities neglect standards and planning and await disaster to adapt, while prioritising trivia including entertainment such as the carnival, knowing the UN, UK, EU, USA and other donors will lavish their taxes on lax states.

 

 

 

 

Standing in solidarity with neighbours

Leela Ramdeen, Allan Ganpat,  2024, 07/05

In 2007, the late Pope Benedict XVI warned that “Our Earth is talking to us and we must listen to it and decipher its message if we want to survive.” In his 2015 encyclical on ecology, Laudato Si, Pope Francis said that climate change is real and mainly “a result of human activity.”

He continues to speak about the devastating effects of the ecological crisis on people and the planet. He introduces the concept of integral ecology since everything is connected.

The climate is “a common good, belonging to all and meant for all … Never have we so hurt and mistreated our common home as we have in the last two hundred years.”

While we must all change our day-to-day actions to live more sustainably, on a larger scale, our leaders must be held to account. “Those who will have to suffer the consequences … will not forget this failure of conscience and responsibility … Reducing greenhouse gases requires honesty, courage and responsibility.”

To protect Mother Earth, we must hear “both the cry of the Earth and the cry of the poor.”

In the immediate aftermath of Hurricane Beryl, SVG Prime Minister Ralph Gonsalves expressed concerns about access to international finance to fund rebuilding and called on richer countries to honour their climate commitments.

While Gonsalves and Grenadian PM Dickon Mitchell are galvanising regional and international support, including an emergency meeting with Caricom, our region continues to face the grim reality that, “although Caribbean states have some of the world’s lowest greenhouse gas emissions, we are among the world’s countries most vulnerable to the impacts of climate change.”

The Commonwealth secretary general, Patricia Scotland, an aid fanatic, joined the call for better climate finance support to small and vulnerable countries affected by hurricanes, increasingly frequent and dangerous from global heating.

Beryl is the first recorded Atlantic storm to jump from Category 1 to Category 5 this early in the hurricane season. Rapid intensification and strength were likely driven by unusually warm waters.

In 2018, the Intra-ACP Global Climate Change Alliance Programme warned that “If current trends continue, the Caribbean region could warm a further 2-3°C this century, more than the 1°C already seen in the last century … Caribbean sea levels could rise by one to two metres, far exceeding the rise already recorded.”

At least 11 people died during the hurricane. St Vincent, Canouan, Union Island and Mayreau, Carriacou and Petite Martinique, Grenada, Barbados, and Jamaica are some of the islands affected. Our heartfelt prayers go to those whose loved ones were injured or died as a result of the hurricane and for all who lost homes, farms and livelihoods.

May the Lord grant them comfort, courage and strength. As we in T&T braced ourselves, expecting damage, the storm veered northwest but we must heed the prediction by the US National Oceanic and Atmospheric Administration of an “above normal” hurricane season this year.

Beryl left a trail of destruction. Carriacou was flattened in half an hour. Scenes with approximately 98 per cent of building structures damaged or destroyed and an almost complete obliteration of the electrical grid and communications systems. Ninety per cent of houses in Union were damaged or destroyed.

This should have been a week of celebration in SVG for Vincy Mas, instead of apocalyptic scenes in SVG and Grenada: flattened homes; damaged police stations, schools and hospitals; streets strewn with the remnants of roofs and towering swells flooding roads and properties.

It will take time to conduct comprehensive damage surveys but all hands on deck can contribute to relief efforts in a spirit of compassion, generosity, solidarity and neighbourliness in the service of those in need.

Many have lost everything. Please give generously. Citizens were affected emotionally and psychologically. Clinical psychologist Dr Katija Khan advised that disaster relief should include physical and mental resources.

USA

In the Americas, Hurricane Beryl strengthened to Category 5 — the highest level on the Saffir-Simpson scale — becoming the strongest storm to ever form in the Atlantic at this time of the year. While there’s only a 30% to 40% chance that a weakened Beryl will hit the upper Gulf of Mexico, where US offshore operations are located, the record-setting storm may be a harbinger of a supply-roiling season to come.

“We are up on geopolitical and hurricane risk, both of which are typical short-lived rallies,” said Rebecca Babin, senior energy trader at CIBC Priv