Did Ashni Singh do everything possible to accommodate for a budget shortfall before asking the Guyanese people for more money?

Reference is made to news reports that the Government of Guyana is seeking Parliament’s approval for over US$192 million (40 billion GYD) in supplementary funds to shore up needed expenditure up to the end of 2024. Earlier this year, Senior Minister in the Office of the President with Responsibility for Finance and the Public Service,…

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Without ring-fencing, improved monitoring, and timely auditing; the Profit Squeeze will continue until the oil is exhausted

In a recent presentation by Mr. Glenn Lall, he asked the following question: What is the average cost of a barrel of oil?   In reply, I will present some information on the cost of a barrel of oil, based on the combined 2023 Financial Statements of the consortium: EMGL, Hess and CNOOC. Additionally, a comparison…

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When the Cost of a Barrel of Oil is US$40.00 or less, Guyana Oil Revenue Must Increase

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…

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Bhagwandin should tell readers what happens with the gold at the factory floor in the interior

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…

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Bhagwandin misleads when he suggests that the NRF Report has disaggregated data for the EMGL, HESS and CNOOC

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…

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