The Executive branch of government and the GRA, a government agency, have finally decided to come clean on some very important provisions on the Oil Contract. They are at once revealing – and they are outrageous frauds and violations of all standards of decency.How well known is the Pay-on-Behalf concept in Oil Contracts – as…
Recent discussions surrounding the cost recovery provision in the oil contract and the possible renegotiation served as motivation for this column. I intend to clarify and reemphasise several points I made on these topics in previous columns. Over the years, I have examined various topics which are still relevant to present deliberations. These include the…
Oil & Gas Governance Network – OGGN Please visit and subscribe to our Facebook Page at: https://www.facebook.com/oggn.org
A SN daily blogger pesters me on this subject: Oil Companies’ financial risk assessment for exploration in Guyana. “Most politically unstable place in Caribbean”, he says. Five biggest Risks – Political risk, Geological risk, Price risk, Supply & Demand risk, Cost Risk. Seems clear the blogger is talking about political risk – gov’t overthrow, nationalization?…
There are times in life when we have to make declarations in order to move to the next desired stage. Declarations of insolvency or of bankruptcy, and of assets come to mind. However, our intrepid Vice-President volunteered a declaration of incompetence – and he doesn’t even seem to realize it! Here is someone, who was…
National news outlets, including this distinguished newspaper, have been documenting problems that are emerging as a consequence of the Local Content Act, which was passed by Parliament in late December 2021. Companies, such as Ramps Logistics Guyana, the largest logistics company servicing the oil and gas sector, has apparently been denied access to the local…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 98 – June 24, 2022 Introduction Last week’s column began a short series on the 2021 financial performance of the three companies – Esso, Hess and CNOOC – which hold 45%, 30%, and 25% respectively of the highly productive Stabroek Block, a find…
This introduction by Isabelle de Caires to a recent Moray House Trust presentation sheds light on how our history hangs over us. She makes the case that now with oil we are again in a wearing sense of deja-vu. https://www.oggn.org/wp-content/uploads/2022/06/the-shadow-of-this-history-hangs-over-us.pdf
Every Man, Woman and Child Must Become Oil-Minded (Part 97) – June 17, 2022 It is more than five months since the 96th. column was published on January 22nd. of this year. That column summarised the court action brought by citizen Glenn Lall seeking declarations against the tax provisions contained in the 2016 Petroleum Agreement….
