If you owned one of the nicest houses in an exclusive neighbourhood, would you sell your house for a fraction of what other sellers are receiving? Guyana is receiving significantly less money from its oil production than other countries. But some Guyanese politicians hide behind the porous façade of the sanctity of contract while others…
By Stabroek News October 4, 2022 Dear Editor, In the EEPGL contract, it is specified that Guyana will receive in the Production Sharing Agreement (PSA), 50 percent of the profits, after EEPGL extracts upfront, and without Guyana’s prior review of the cost, 75 percent of the total revenue as cost. This proportional linkage between total…
Guyana’s General Elections of March 2, 2020, were marred by irregularities during the vote counting process, which led to a recount supervised by CARICOM. Subsequently, election petitions were filed at the Guyana’s High Court, which still await final resolution. Now have a look at Brazil, our neighbour to the south covering 49% of South America’s…
The circuit breaker box controls the electrical energy in your house. Electronic devices in your house ranging from microwaves to televisions would be reduced to ornaments if the circuit breaker box malfunctions. This critical box is installed in your house, not on your street. You wouldn’t want criminals to easily disable the lights and alarms…
The assets of Esso Guyana will be insufficient to cover the costs of a major oil spillLast year, Afghanistan bodies were falling off American jets, filled with Americans, as the planes accelerated up into the sky. Those images depict how quickly America will abandon a country that appears financially worthless to it.If we have a…
I follow with daily frustration, the widespread misunderstanding of Full Liability Coverage which is being misconstrued as full liability insurance. There is no such thing as “full liability insurance”, since it is unrealistic for any insurance company to underwrite such a large sum. Thence, it was most painful to watch our Honourable Ministers argue against…
Allan A. Fenty says: ‘Mind you re-negotiation can happen if ever an oil giant knows it will still be reaping whirlwinds of profit on investments. I have some gut feeling that Exxon and its subsidiaries are not such” (SN August 26th). Mr. Fenty’s statement is filled with ambiguity, wishy-washy; very uncharacteristic of him. Do not…
By Stabroek News August 16, 2022 Dear Editor, Please allow me the opportunity to respond to the letter dated August 14, 2022 written by Joel Bhagwandin, Financial Analyst, captioned, “The points raised by Dr. Hunte were discussed more comprehensively in another report.” Having read the Financial Analyst response, I have one comment that is best…
The impact assessment of the cumulative effects for Exxon’s planned 35 Multiwell Exploration and Appraisal (E&A) Drilling Programme should fill major gaps of the four existing EIAs including a much more detailed study of the marine environment than was previously done, says environmentalist Janette Bulkan. On July 19th, the Environmental Protection Agency (EPA) announced that…
