The objective for awarding oil blocks is to generate the maximum oil revenue (money) over the long-term for the benefit of the whole country. We benefit from the sensible spending of oil revenue to improve quality of life and to create meaningful jobs. We also benefit by the saving of part of the oil revenue…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 68 – July 5, 2019 Introduction This column has had an extensive rest – more than half the year while more and more of the defects and inadequacies of the infamous “ExxonMobil” Petroleum Agreement have been exposed. Paradoxically, it seems that it is…
It is my honest opinion that Kaieteur News should be awarded with the highest honour of the land for their continuous reporting on the massively flawed Petroleum Agreement between the Government and the contractors (Esso/Cnooc/Hess) and by extension Exxon. This petroleum contract, signed by Minister Trotman (his initial RT is on every page of the…
Canadian oil company Frontera’s recent payment of a US$33 million signing bonus for a 33% working interest in two blocks offshore Guyana without any confirmed commercial quantities of oil, should signal to government how much it lost when it renegotiated its Production Sharing Agreement (PSA) with ExxonMobil’s subsidiary in 2016 and got a mere US$18…
