In my opinion, this contract should be considered null and void for the following interim reasons:1) This contract was not made in good faith, good intention, is biased and is not consistent with minimum international contracting requirements, practice, guidelines, procedures and laws.2) This contract is a production sharing contract/royalty (PSA), where Guyana is technically a…
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…
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…
President Ali displayed good reasoning in his speech last Sunday on World Environment Day. He correctly makes the point that the developed countries are unfair in using the environment to want us to not exploit our resources, while they renege on what they owe the present population of the Earth for the environment they have…
…Energy Technologist tells EPA solar should be pursued instead of gas-to-shore projectKaieteur News – The associated gas from oil production should be reinjected to save Guyana from further damage to the environment. This is the view of Former University of Guyana (UG) Lecturer and past representative of the Transparency Institute Guyana Inc (TIGI), Mr. Alfred…
Dear EPA, My submission on the EIA for the EEPGL Gas to Energy project is prompted by project manager Mr Friedrich Crispin’s justification of it as an alternative source of energy during the presentation of the EIA at the Leonora Technical Institute on Friday May 13, 2022, and on S4(1) of the Environmental Protection Act…
The Joshua Luke article in SN 2022-05-19 is a crude attempt to link money supply and the Government spending. There are also Consumer spending and Private Investment spending that together influence the inflation rate. It is a leap to just one of the three types of spending, namely Government to inflation: Quote: ‘The money supply…
