Chris Ram

Last week I called out the political leaders for their timidity and dishonesty for hiding behind “sanctity of contract”. Someone pointed out that I seem to have spared Shuman’s Liberty and Justice Party and the United Force (if it exists). That was an oversight. The response to last week’s column was silence from the political…

Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 136 Over the past three weeks, this Column has shown how the PPP/C has reversed its pre-election promise to review and renegotiate the 2016 Petroleum Agreement. But it actually did worse – reversed its commitment to an independent Petroleum Commission, failed to provide…

Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 135 This is the final part of an adaptation of a talk I gave last July at a forum sponsored by the US NGO Oil and Gas Guyana Network (OGGN). The thrust of my contribution was that the Government’s excuse for reneging on…

Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 133 Introduction This column is an adaptation of a presentation I made at an OGGN sponsored activity in New York last July 27. OGGN is a US registered NGO with its membership drawn from the Guyanese Diaspora in North America, Europe and the…

Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 132 Modest investment, gargantuan returns Last week’s column completed the review of the published financial statements of the three companies which signed the 2016 Agreement for the Stabroek Block. Table 1 is a summary of the Income Statements (Profit and Loss Accounts) of…

Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 131 Today’s column features the financial statements of the Chinese-owned CNOOC which holds a 25% working interest in the Stabroek Block, as a “non-operating joint venture partner”. CNOOC, like its other two partners, is a branch of a company incorporated outside of Guyana…

Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 130 – June 14, 2024 Exxon’s incredible (and unique) return on Equity Introduction This week’s column features the financial statements of the Guyana branch of ExxonMobil Guyana Limited, a 45% stakeholder, and the designated Operator, in the Stabroek Block. In what was a…

Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 129 On 29th December 2023, in a letter to the press, I argued that the Natural Resource Fund was overstated by G$274 BN., the amount of the Corporation Taxes paid by the Government on behalf of the oil companies required under Article 15.4…

Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 128 Introduction The two previous parts on this subject carried on Tuesday (21st.) and Wednesday (22nd) dealt with the first of two documents published in the Official Gazette a week earlier. These were the Guarantee and Indemnity Agreements by the oil companies with…

Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 127 Introduction Yesterday’s column addressed three Guarantee and Indemnity Agreements (GIA) granted by the oil companies to the Environmental Protection Agency. These we are told are to provide some assurance to Guyana that there is money available to deal with any environmental events…