November 5, 2024
Headlines

October 2018

GLOBAL CONTRACTS ARE BEING RENEGOTIATED ON FAIRNESS, WHY CAN’T GUYANA DO THE SAME

News Editor01 mins

This is in reference to Clement Smith’s letter in Kaieteur News on October 27 titled “Guyana’s take from oil is larger than many countries”. Clement Smith stated my recent letter is inconsistent with the facts. A copy of this letter can be found here: http://www.oggn.website/2018/10/23/flawed-oil-contract-is-giving-up-more-than-investment-bank-likely-to-generate-in-future-returns. In his letter, the only source of information cited was…

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Greenidge meeting with Merrill Lynch exposes flaws in Govt handling of oil and gas

News Editor02 mins

The recent revelations that Minister of Foreign Affairs, Carl Greenidge, met with Merrill Lynch, who is likely interested in the investment feature of Guyana’s Natural Resource Fund has exposed some fundamental flaws. This view was shared by Auditor and Financial consultant, Nigel Hinds, who said that the Government’s approach is the ‘minus 101 manner of…

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Guyana has crucial advantages which should pave the way to renegotiate the Exxon oil deal

News Editor02 mins

In February 2018, Exxon produced a 20-minute Facebook video in which its stated purpose was to address questions concerning the Oil Contract, Revenues and Taxes. At minute 10, the presenter declaims: Guyana is a frontier country. And, further states that the Guyanese people should be satisfied with the oil contract. Pronouncing Guyana as a “frontier…

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Flawed oil contract is giving up more than investment bank likely to generate in future returns

News Editor02 mins

On Thursday October 18th, 2018 the Stabroek News published an article entitled `Merrill Lynch interested in sovereign wealth fund’. The investment world has taken notice of the potential wealth that lays offshore in Guyana. The government should study the history of those who seek to bestow advice on how to manage Guyana’s potential windfall. The flawed oil contract…

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Chris Ram's Articles

Ministerial Disregard: Foreign Enthusiasm, Local Contempt in Guyana’s Oil Sector

News Editor012 mins

Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 62) Introduction During the recently-concluded United Nations General Assembly in New York, USA, the Guyana Delegation led by Foreign Minister Carl Greenidge facilitated a meeting between the Governor of the Bank of Guyana and representatives of Merrill Lynch, the investment arm of the Bank…

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The industrial brands exploring and developing Guyana’s oil & gas “play”

News Editor01 mins

Introduction Last week’s column provided additional data on the first of four features of Guyana’s recent oil and gas discovery; that is, its physical/geological configuration. The column amplified on three attributes: the geological make-up; its location offshore; and, the size or quantum of potential reserves. Today’s column amplifies on the second feature, namely, the project…

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Chris Ram's Articles

Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 61)

News Editor010 mins

Introduction In an advertisement appearing in the national media yesterday, the Ministry of Natural Resources, on its own behalf and that of the Government of Guyana, invited expressions of interest by Consultants desirous of providing services to the Project Execution Unit, presumably of the Ministry, to “conduct an audit of the Recoverable Contract Costs as…

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Chris Ram's Articles

Call for a Commission of Inquiry into Guyana’s Petroleum Sector: An Urgent Necessity

News Editor011 mins

Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 60) Introduction Following last week’s call for a Commission of Inquiry into the Petroleum Sector, more than a handful of individuals approached me enquiring whether the call was serious and what would be the expected outcome. After the spate of Presidential Commissions of Inquiry…

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