Reference is made to the letter submitted by the Ministry of Natural Resources (MNR) dated July 7, 2024 in reply to my letter on July 1, 2024. In their letter, MNR made the false claim, among other things, that the numbers I used to describe the Hess and CNOOC financial statement were pure fiction. While…
Thanks are extended to Mr. Phillip Rietema, Vice President and Business Services Manager of ExxonMobil Guyana Limited (EMGL), who made two important statements about the performance of the Oil company in Guyana. In the first statement published in Kaieteur News (https://www.kaieteurnewsonline.com/2024/07/02/exxons-guyana-operations-secure-with-us40-per-barrel-breakeven-point-phillip-rietema-vice-president-of-emgl/), it is reported that Mr. Rietema said that oil prices, ‘…went (down) from US$100…
Having received copies of the 2023 Financial Statements of ExxonMobil Guyana Limited (EMGL), Hess, and CNOOC, with ownership rights in the company of 45 percent, 30 percent, and 25 percent, respectively, I decided to undertake a brief analysis of the 2023 financial information. But before doing so, it is important to state that the Government,…
I have taken note of Mr. Joel Bhagwandin’s letter titled, “[Prof] Hunte’s so-called “broken institutions” have little or nothing to do with declining gold production”, and respond as follows: Can Mr Bhagwandin give a short description of the Custom Dept’s check of the operation? A gold processing plant is located on the company’s concession in…
I refer to Mr. Joel Bhagwandin’s letter dated 6-17, 2024 in which he claims the information I requested is in the Natural Resource Fund (NRF) Report. Not surprisingly, Mr. Bhagwandin’s answer is the usual ‘red herring’, in which he is once again attempting to divert attention away from the real issues I raised in my…
One of the most valuable non-renewable resources that Guyana has, apart from oil, is gold. The price for an ounce of gold on the World Market (June 16, 2024) is US$2,348.40 (https://www.google.com/search?q=price+of+gold&rlz=1C1ONGR_enUS1113US1113&oq=price+of+g&gs_lcrp=EgZjaHJvbWUqCggAEAAYsQMYgAQyCggAEAAYsQMYgAQyCggBEAAYsQMYgAQyBggCEEUYOTINCAMQABiSAxiABBiKBTIHCAQQABiABDIHCAUQABiABDINCAYQABixAxjJAxiABDIHCAcQABiABDIHCAgQA); and therefore, one pound of gold is US$37,574.40, as compared with a pound of sugar at US 19.35 cents and rice at US 18.15…
I refer to Mr. Joel Bhagwandin’s letter in SN dated June 14, 2024 submitted in response to my letter dated June 12, 2024 on the shortage of royalty paid by EMGL. Mr. Bhagwandin claims, among other unrelated issues, that the shortage observed in royalty was associated with the following: ’(I) royalties …(being) deposited every quarter…
Reference is made to the ExxonMobil Guyana Limited Annual Report 2023 (https://corporate.exxonmobil.com/locations/guyana/annual-report). In that report (Page 36), it is recorded that royalty paid is G$21,922,725,604.00, representing 2 percent of total revenue of G$1,108,897, 727, 566.00 (Table1). However, the royalty paid is not 2 percent of total revenue; instead, it is only 1.977%. The correct royalty…
Since few government officials respond to questions that are raised in the Press, we must thank Tejnarine Geer, Aquaculture consultant, for information on the brackish water shrimp project in Region 6 (https://www.stabroeknews.com/2024/06/07/opinion/letters/brackish-water-shrimp-project-has-proven-to-be-tremendous-success/). Through your newspaper, I ask Mr Geer some follow-up questions: In 2021, Minister Mustapha informed that ‘$58M [was] being injected to up Region Six…
GPL, there are still people around who can understand electricity I grew up in New Amsterdam in the 1950s, where there were hundreds of vultures, which we called carrion crows. Some used to come home to roost in coconut trees between where I lived and the then NA hospital. They also perched on electric power…
