I would like to make some comments on the article by Dr. Thomas, “Guyana’s Oil and Gas Sector: More on the abuses of misinformation, deceptions, and fake news.” (SN July 11, 2021). Some clarifications are needed as Dr. Thomas seemed to have missed some important points. Firstly, the Guyana’s taxation system is not based on “average effective…
There are unanswered questions that relate to future taxpayers’ burdens arising from possible new government debt interest costs and Guyana’s payment of profit taxes on behalf of the contractors from its Production Sharing Agreement. Will the Gas to Energy be similarly treated? There are three major stakeholders in the Gas to Energy project: Contractor, Government…
Alfred Bhulai, Dr Janette Bulkan, Jocelyn Dow, D Radzik, Vanda Radzik, Dr Troy Thomas, Dr Maya Trotz The Environmental Protection Agency (EPA) published a Public Notice on June 25, 2021 stating that an Environmental Impact Assessment (EIA) was required for the “Gas to Energy Project” led by Esso Exploration and Production Guyana Limited (EEPGL). EEPGL…
The oil company/contractor and Government have determined that the gas has commercial value and will be cooled to minus 261 Fahrenheit degrees on land instead of using a floating ship. The process is unclear; the oil company has a development plan to develop gas, recover the expenditures in the 75% cost recoveries, and sell the…
It is heartening to note that Private Sector Projects would be supported in national development: In reading ‘Ali stumps for private sector during talks with visiting CDB president’ (SN – July 11, 2021): ‘Ali, the statement noted, has been adamant that the government would support private sector initiatives, especially when it comes to developmental projects’. …
Guyana’s Assessed Tax Liability, GY$5.391 billion for the Petroleum Contractors is an outrage. Instead of securing funds for floods, sea defenses, and compensation to farmers for crop losses, the money deposited at the Federal Reserve of New York must now be used to pay Guyana’s tax bill, a situation that will reduce Guyana’s Petroleum share…
Attorney General of Guyana, Mohabir Nandlall, is currently on a visit to New York. On July 2nd, he appeared at two meetings – one at Villa Russo to an audience of 60 and second, at Royal Restaurant on Rockaway Blvd. in Queens, NY to an audience of 150. At the Villa Russo meeting, I asked…
You do not buy a bottle of water that is not properly full, because you can see through the container. But if you buy a bottle of cooking gas, you cannot see if you are getting value unless the bottle is weighed on a standard scale, or unless you believe the seal has been properly…
I refer to Mr. Reggie Bhagwandin’s letter, “Oil deal was designed to cater for the nature of the industry” and wish to comment as follows: An argument for tax waivers for Foreign Companies – Profits are not guaranteed. Business is very competitive. Therefore, it makes good sense for host governments to grant tax waivers for…
