Precedent exists for renegotiation of Exxon deal, gov’t has to act

Has the Government inquired with Exxon about improving the financial terms of the Stabroek Block oil contract? The Guyana Environmental Protection Agency (EPA) was recently able to push back on the oil companies to improve the Stabroek Block agreement which was originally signed in 2016. Those improvements have centred around protecting Guyana from the devastation…

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Oil governance advocates challenge World Bank to prove Guyana’s gas project will not end up like Ghana’s

The World Bank, Guyana’s development partner of many years, is being challenged to prove that Guyana’s gas-to-shore project will not fall to the same fate as Ghana’s project. The African nation’s Sankofa field gas project, endorsed and partly financed by the Bank, has trapped Ghana in a deal which forces it to pay hundreds of…

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We need strong leadership like that demonstrated by Dr Adams to protect Guyana

A patient with cancer would want an experienced world class oncologist to give the diagnosis and prescribe the treatment. For a life changing event, one wouldn’t fire the oncologist in the middle of their assessment and then seek advice from a replacement with much less qualifications and experience. But it appears the Government of Guyana…

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We urge President Ali to renegotiate the contract for the Stabroek Block

We congratulate Dr Irfaan Ali on becoming the 9th Executive President of Guyana. In the history of our nation, this is a transformational moment given our recent discovery of an abundance of energy resources. What he does over the next few years will set the direction of Guyana for decades.  We were elated when on…

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17 in Diaspora demand comprehensive review of oil sector

– Resolve discrepancies in pre-contract costs– Probe cost anomalies between Liza 1 & 2– Review taxes paid by Guyana for oil companies– Review unspecified interest rates on oil companies’ loans– Improve weak environmental standards– Regulate amount of oil being produced A group of 17 civil society professionals in the diaspora are calling on President Irfaan…

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Why sell in a market crash? Especially, when the resulting proceeds are inaccessible Govt.

The Stabroek Block was described as, “an extraordinary world-class asset” in a recent investor conference call by John Hess. He then goes on to state that, “Nothing competes with it in the industry”. Mr Hess was making his comments during a recent investor call which included analysts from some of the world’s biggest investment banking…

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