Warren Buffet: “You cannot produce a baby in one month by getting nine women pregnant.” Agreeing to more oil agreements will not compensate Guyana for the unpatriotic Petroleum Agreement with Exxon, Hess and CNOOC. What we need is to renegotiate the June 27, 2016 Petroleum Contract – posthaste. Thus, the Stabroek News article dated March…
The headline that caused me grave dismay was, ‘Exxon Contract ‒ Final –Harmon’, published in Stabroek News and dated February 23, 2018. On reading the headline, several thoughts overcame me: President Jagan would have absolutely rejected this contract; President Burnham would have never given away our birthright; Walter Rodney would never go against the people….
Chartered Accountant, Nigel Hinds said that ExxonMobil has been able to outsmart Guyana. He said that the company is now making Guyana pay it to exploit its resources when the company should be the one paying. Guyana is now hurrying to put measures in place to monitor and assess cost recovery claims. However, it has…
In order to capitalize on oil discovery here, the Government of Guyana must renegotiate the current petroleum agreement with ExxonMobil and its affiliates to reflect an increase from a two percent royalty to 10 per cent. This view was shared by Chartered Accountant, Nigel Hinds, who provided Kaieteur News with a detailed breakdown of opportunity…
Chartered Accountant Nigel Hinds is pleading, once again, with the Government of Guyana and ExxonMobil to negotiate the “lopsided” Petroleum Sharing Contract (PSA) that they signed in 2016. Hinds said that along with the many ills of the contract, the APNU+AFC government needs to realise that if it does not fix the contract, other companies…
The fact that Guyana will begin to reap benefits from royalties and profit from oil only after ExxonMobil beings production is reason enough to ensure that a production timeline is in the Production Sharing Agreement (PSA) that the country signed with ExxonMobil. This was noted recently by Chartered Accountant, Nigel Hinds. Hinds said that with…
It is simply unheard of for a company to just quote a figure to be paid, whether by another company, a person, or a government, without at least giving a breakdown of the expenses. So said Chartered Accountant, Nigel Hinds, yesterday as he expressed his concerns about the US$460M pre-contract cost that ExxonMobil wants Guyana…
The silence is deafening. It is indeed unfortunate that so many Guyanese are keeping quiet in the face of the glaring atrocities highlighted in the Production Sharing Agreement (PSA) that Minister of Natural Resources, Raphael Trotman signed with ExxonMobil. That is the crux of comments made by Chartered Accountant, Nigel Hinds. Hinds said that advocates…
You found out that your backyard has gold. Someone comes along and tells you he can dig up your gold. So you sign a contract with him that stipulates you are only entitled to 10 percent of your own gold. The gold digger finds 10,000 bars of gold, therefore according to the provisions of the…
If one adds the collective losses from contracts that were mismanaged; investments that fell through, like the glass factory under Burnham and the Skeldon Factory under Jagdeo as well as the Marriott; if you also consider all that was given in bailouts and loans to agencies that had to be written off; those losses will…
