Low oil and gas prices have spurred an exodus on foreign oil companies from Canada’s energy sector over the last year. On Thursday South Africa’s Sasol Ltd became the latest international energy firm to say it plans to divest Canadian assets. The departures have raised doubts over future development prospects of the world’s third largest…
As interest in exploring unallocated petroleum blocks off Guyana’s shores increases, Government is seeking to revise the existing template of the Production Sharing Agreement (PSA) so as to “safeguard the rights of our nation to a fair share of resource wealth.” This is according to Minister of Finance Winston Jordan who told the National Assembly,…
But ExxonMobil’s EIA leaves much to be desired. According to the source document, ExxonMobil has little or no plans in place to deal with any financial eventuality of an oil spill. Exxon claims that the possibility of an oil spill is not very high. However, it said that there is a 10 percent chance that…
“Do I use it on my shores for myself and own products as opposed to selling it or not? You have to look at harmonizing your oil and gas regime so that your gas pricing and your energy pricing contracts mean something for the people, more than just a foreign investor coming and investing three…
With $2.7 billion in oilfield sales this week, Hess Corp. is making a calculated bet, giving up steady production today to help fund what could be one of the world’s biggest discoveries into the next decade. See more here
There is a mystery unfolding in the U.S. Department of the Interior. Officials there seem to have removed the United States from a singularly successful anti-corruption effort. This has happened largely in secret, aside from a few public statements in legalese that are nearly impossible to parse. At times, bureaucrats in the department have behaved in…
Dear Editor, While visiting the UK, I read that the US had pulled out of the Extractive Industries Transparency Initiative (EITI) which Guyana is now a candidate member of. There are some 51 members. The US presence in the body served as a model against corruption and acted as a pressure for other countries to…
The Trinidad and Tobago Extractive Industries Transparency Initiative (TTEITI) Steering Committee congratulates the Government and people of Guyana after the country was officially accepted as a member of the Extractive Industries Transparency Initiative (EITI) today at the 38th EITI Board meeting in the Philippines. The EITI is the global gold standard for resource revenue transparency…
Stabroek News’ ‘Politikles’ cartoon, on the heels of its report that Petroleum Advisor to the President Dr Jan Mangal, said “I believe that all contracts should be made public,” adequately sums up the current state of affairs– the Minister of Natural Resources is running from transparency and accountability. Why isn’t the Coalition government listening to…
Anglican clergy, including five bishops, broadcaster Richard Coles and Olivia Graham, call on the church to support the aims of the Paris climate agreement by divesting from fossil fuel companies See more here
