Apparent discrepancy of US$604m in oil revenues for first half of this year
In the past week, several commentators have stated that the spot price of Brent crude…
Apparent discrepancy of US$604m in oil revenues for first half of this year
In the past week, several commentators have stated that the spot price of Brent crude has been between US$120 and US$150 per barrel. This contrasts with the Brent crude futures price, which has been around US$105 per barrel. In its First Half Report for 2026, the Bank of Guyana (BoG) stated that the average price…
Time for the Sanctity of Contract Circus to come to an end
Every Man, Woman and Child Must Become Oil-Minded: Column 201 President Irfaan Ali recycles the argument so often that it is now official doctrine: the 2016 Stabroek Block Petroleum Agreement is a bad deal for Guyana, but “sanctity of contract” prevents renegotiation. In his recent Al Jazeera interview, Ali again asserted the Agreement was bad…
We must know in detail what natural resources we have
On a per capita basis, Guyana is one of the very well-endowed countries in the world; for it has oil and gas, gold and diamonds, and many other minerals, as well as arable lands. Also, Guyana has a rich diversity of plants animals and marine life; and it has many creeks and rivers. Table 1…
39.8% profit share means Ring Fencing but short-lived with many questions – looks fishy!
Dear Editor, 39.8% profit share means Ring Fencing but short-lived with many questions – looks fishy! There has been an array of public missives about the welcomed oil profit share to Guyana being more than tripled to 39.8%, or approximately G$8 Billion (B) per day at the current production rate and oil price. However, what…
Column 200: Sovereignty in the Age of Oil
Introduction The series began on May 26, 2017 as Oil and gas – The New Economic Horizon and was expected to run for twenty-five weeks. As the research deepened, it became Road to First Oil – Every Man, Woman and Child Must Become Oil-Minded, borrowing the Daily Chronicle exhortation brought to my attention by historian…
A Refinery for Guyana: Big thinking, bigger risks
“We cannot have crude oil and don’t have security of supply.” So said President Irfaan Ali on August 26 as he unveiled an expansive conception of a national oil company. According to the Department of Public Information, the company would not invest in offshore production but would be built around a domestic refinery and expanded…
From 12.5% to Nearly 40% – How Long Can the Good Times Last? – Part 4: Conclusion
Road to First Oil – Every Man Woman and Child Must Become Oil-MindedColumn No. 198 Introduction Last week’s column ended with Professor Clive Thomas’s estimate that wastage, incompetence, mismanagement and corruption consume 20% of public expenditure. Applied to 2021–2025, that is G$838 billion, or about US$4 billion. My fear is that the true figure is…
From 12.5% to Nearly 40% – How Long Can the Good Times Last? – Part 3
Road to First Oil – Every Man Woman and Child Must Become Oil-Minded Column No. 197 Having promised renegotiation and abandoned it on taking office, President Ali offered the country a substitute. The 2016 Agreement would stand, but it would be properly administered. He argued that as leader of a country governed by the rule…
All Guyanese should now support Chinese Landing and advocate for a Judicial Review of Vieira’s mining permits
Coastlander goldminer Wayne Vieira once again protests his four GGMC-awarded medium-scale mining permits for Tassawni which is within the titled Amerindian Village Lands (AVL) of Chinese Landing; ‘Chinese Landing Toshao chooses village watch over emergency meeting with Bharrat’, Kiskadee Watch, 27 August 2026. Well done, Toshao Miller. Indeed, let us look at the Mining Act (1989) and the associated mining…
From 12.5% to nearly 40% – How long can the good times last? Part II of IV
Road to First Oil – Every Man Woman and Child Must Become Oil – Minded Column No. 196 Part I welcomed President Irfaan Ali’s announcement that Guyana’s entitlement from the Stabroek Block production has risen from 12.5% to approximately 39.8%. That percentage reflects mainly the recovery of accumulated exploration and development costs: as less production…
