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…
I thank the Ministry of Natural Resources for a courteous response to my recent letter (‘Exxon’s environmental record does not bear scrutiny’ SN, March 8). However an assurance that the government is “carefully and assiduously” building the capacity of the Environmental Protection Agency (EPA), the Marine Administration Department and the Civil Defence Commission rather misses…
Downstream is the processing and selling of refined products in the oil and gas business. These products just do not include gasoline and diesel, but a whole gamut of products as outlined below. The “super majors” like ExxonMobil are involved in many elements of these processes as joint venture partners in hundreds of money-spinning projects. This…
Dutch Disease explained Does a person have it? Definitely not, it is not a medical condition; it is an economic condition. In the 1960s, much natural gas was found off the coast of Holland. By the 1970s, the oil and gas rush in that country had raised the value of the DUTCH Guilders (the name of the…
Guyanese should understand the goal of the oil and gas contractors: drill, extract and burn all the oil and gas resources it can acquire whenever it can in a game to balance the demand and supply globally. Guyana is just a small fish in this big pond and this is why we must always put…
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…
See original source here: http://www.searchanddiscovery.com/pdfz/documents/2018/70320mangal/ndx_mangal.pdf.html
