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…
In our previous articles, we have charged that the contract is illegal for the simple reason that at its root the contract is based upon an illegality, to wit, the issuance of the entire area of 26,800 square kilometers under a single licence instead of as the law required, 6 or more independent pieces each…
Presentation deck can be found here: Political aspects of the resource curse
Dr Tarron Khemraj talks about the political aspects of the resource curse Dr Jan Mangal discusses the potential value of renegotiation Chris Ram discusses the flaws in the oil contracts You can find the other presentations at this event below:
Due to my continued work highlighting grand thefts and forfeitures of billions of US dollars by our politicians past and present, of the oil wealth which belongs to the people of Guyana and which does not belong to the politicians and companies, there have been and will continue to be attempts to discredit my message…
The presentation slides can be found here: http://www.oggn.website/wp-content/uploads/2019/06/chris_ram_oggn_event_20190601.pdf
In our last article we presented facts that suggested that the claimed need for Exxon as insurance against Venezuelan hostility to justify the breach of the 60-block maximum per contract was an overstatement to use the most polite word. Today we discuss alternatives to that action taken by the then minister and supported and maintained…
