On the 18-Jun-2018 the Kaieteur News indicated that Dr Jan Mangal (petroleum adviser to the President from Mar-2017 to Mar-2018) recommended the investigation of the award of petroleum blocks which occurred under the previous government. Then a few days later on the 22-Jun-2018 the Kaieteur News ran an article which suggested Dr Mangal was criticising…
From: https://www.kaieteurnewsonline.com/2018/06/06/local-content-is-not-ads-publications-catering-and-taxi-services/ On Monday, Opposition Leader Bharrat Jagdeo called for the Government to publish the list of 309 companies ExxonMobil said it used last year to support its operations. Instead, the Government released, yesterday, a list of what it said were registered companies used by the oil giant for the first quarter of 2018. That list…
On June 1st, 2018 the Stabroek News published an article discussing a report by Norway’s Rystad Energy. Other Caribbean newspapers have published similar articles. However, there appears to be inconsistencies in the report that need clarification. Here are a few points of concern: It was stated that Rystad is forecasting 600,000 barrels per day (bpd) in…
I refer to the letter, `Why is Janki so opposed to the ExxonMobil deal?’ under the name of Clement Smith. I should have thought the answers to that question were already abundantly clear. I have repeatedly said that Minister Trotman’s behaviour was incompetent, irresponsible, naïve and foolish in the oil arrangement he agreed with Esso…
The Guyana Court of Appeal yesterday commenced hearing the appeal filed by Ramon Gaskin, who has sought to challenge the granting of a petroleum production licence to the partners of the local Exxon subsidiary, Hess Guyana Exploration Ltd (Hess) and CNOOC Nexen Petroleum Guyana Ltd (Nexen), as he contends that they have no environmental permits…
Guyana has struck oil but for the panelists at a discussion on Wednesday there is no reason to celebrate. In fact one panelist argued that there are actually grounds for saying that government acted illegally in signing to such terms. On Wednesday, the Moray House Trust held a panel discussion where economists Collin Constantine and…
On May 17th, 2018 the Stabroek News published a letter by Mr Clement Smith in which he questioned the motives of A Fair Deal for Guyana with respect to challenging the oil contract. In that letter he stated, “But the saddest part of all is that local activists are getting involved.” We disagree with Mr…
Guyana agrees to pay Exxon’s Esso – a US$460 Million Bonus, and labels it precontract costs, which is 2,500% higher than US$18 Million that was received by the Government of Guyana and referenced as a “Signing Bonus.” The reference is a misnomer to the extremities of accounting classification – Copper Signing Bonus is a more…
Recently, the number and prominence of foreign analysts who have corroborated the early view expressed by local analysts have increased. This is the view that the contract is heavily weighted against Guyana. Two of these foreign analysts have been OpenOil and the IMF. Yet, there is one aspect of the consideration of how bad a…
