The seas surrounding Guyana are under threat by big oil companies. We believe that the Government of Guyana is putting the natural world and our common home in danger. Our legal cases will help protect the ocean, biodiversity and the global climate system for the benefit of each one of us. The legal cases will…
The headline that caused me grave dismay was, ‘Exxon Contract ‒ Final –Harmon’, published in Stabroek News and dated February 23, 2018. On reading the headline, several thoughts overcame me: President Jagan would have absolutely rejected this contract; President Burnham would have never given away our birthright; Walter Rodney would never go against the people….
Chartered Accountant, Nigel Hinds said that ExxonMobil has been able to outsmart Guyana. He said that the company is now making Guyana pay it to exploit its resources when the company should be the one paying. Guyana is now hurrying to put measures in place to monitor and assess cost recovery claims. However, it has…
In order to capitalize on oil discovery here, the Government of Guyana must renegotiate the current petroleum agreement with ExxonMobil and its affiliates to reflect an increase from a two percent royalty to 10 per cent. This view was shared by Chartered Accountant, Nigel Hinds, who provided Kaieteur News with a detailed breakdown of opportunity…
An international firm will advise the Guyana Government on how to market the country’s remaining unassigned oil blocks, according to Natural Resources Minister Raphael Trotman. “Cabinet has determined that an international firm will be retained to guide and advise that process going forward,” Trotman told Sunday Stabroek. “A short-list of capable firms is being compiled…
Foreign companies often advocate the use of a “stability clause” in the quest for certainty of contractual provisions. This clause seeks to secure the oil contract and benefits therein for the oil operator, against future government action or changes in the law. Stabilization clauses freeze the essential provisions of the contract. Different countries have used…
In order to capitalize on oil discovery here, the Government of Guyana must renegotiate the current petroleum agreement with ExxonMobil and its affiliates to reflect an increase from a two percent royalty to 10 per cent. This view was shared by Chartered Accountant, Nigel Hinds, who provided Kaieteur News with a detailed breakdown of opportunity…
Making prediction in a complex and nonlinear world often involves identifying initial conditions and then sequentially reasoning (or solving) forward. One way of knowing how well Guyana will do with its newfound oil and gas resources is to consider the initial conditions that exist in the country today. In this column and future ones, I…
The controversial Production Sharing Agreement (PSA) signed between the government and ExxonMobil’s local subsidiary and partners is final and will not be subject to any changes, Minister of State Joseph Harmon said yesterday. “The President has said it—that we have dealt with the ExxonMobil contract and that we are not going back on it. It…
I thank the Ministry of Natural Resources for a courteous response to my recent letter (‘Exxon’s environmental record does not bear scrutiny’ SN, March 8). However an assurance that the government is “carefully and assiduously” building the capacity of the Environmental Protection Agency (EPA), the Marine Administration Department and the Civil Defence Commission rather misses…
