Opinion
Govt. now siding with ExxonMobil to avoid renegotiating oil deal
Though Guyana’s blossoming petroleum sector is in desperate need of pruning to ensure the fruits satisfy the needs of the local populace, the country’s leaders have not been hearkening to their respective roles. This much can be said, particularly about Vice President (VP) Bharrat Jagdeo, who is tasked with management of the local petroleum, according…
New PSA fails to fix source of foreign currency shortage
Chartered Accountant, Christopher Ram has reiterated his position that the current foreign currency shortage is a fallout from the 2016 Production Sharing Agreement for the Stabroek Block and he said Guyanese should note that the much vaunted Model PSA has essentially retained the old foreign exchange framework, which is the source of the problem. Writing…
New oil PSA repeats major weaknesses in old contract
Amid calls from the Opposition and other stakeholders for an extension in the time for scrutiny of the new model Production Sharing Agreement released by government recently, Chartered Accountant, Christopher Ram said there should be a public forum for broad and general consultations. Writing in his weekly Oil and Gas column in the Stabroek News…
These issues are very important as Guyana’s new oil economy unfolds
There are important issues raised in Joel Bhagwandin’s [JB] letter in SN – March 26, 2023 that are very important for Guyana, as the new oil economy unfolds. Principles related to ownership rights and corporate funding determine future incomes earned from such ownership rights. Future tax payments are also related to the classification of corporations…
The 2016 Petroleum Agreement and Foreign Currency – Part 2
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 106 – March 25, 2023 Introduction In Guyana’s fast changing news cycle, the issue of whether or not there is a shortage of foreign currency appears to have receded into the background. That of course does not mean that the temporary problem has…
The Gov’t must define what constitutes a conflict of interest in this specific instance
The Laws of Guyana establishing the Environmental Assessment Board (EAB) could not be clearer. Article 8 (1): Any member of the Board who has any interest, directly or indirectly, in any matter before the Board –Shall disclose the nature of his interest to the Board; and Shall not take part in any deliberation or decisions…
The 2016 Petroleum Agreement and Foreign Currency
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 105 – March 17, 2023 Introduction It is surely a contradiction that even as Guyana has the fastest growing economy in the world, and amid a phenomenal expansion in oil production and export, the issue of the availability of foreign exchange is now…
The authors of the EPA’s GtE EIA replaced arithmetic with political assertions
S.11 (5) of Guyana’s Environmental Protection Act declares that every environmental impact assessment shall contain the following information: – (b) an outline of the main alternatives studied by the developer and an indication of the main reasons for his choice, taking into account the environmental factors. One therefore expects to find studies of the alternatives…
OGGN advocacy is about rule of law, environmental protection and citizens’ best interests above that of oil companies
On February 15, 2023 Stabroek News reported that President Ali seemed to conclude that the renegotiation of the Stabroek Oil contract would lead to a halt in production. On March 6, 2023 Kaieteur News stated that, “Guyana’s top political leaders have likened local advocates championing a better deal for citizens as hypocrites”. There is a…
Court decision in Glenn Lall’s court challenge to tax provisions in 2016 Petroleum Agreement
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 103 – March 3, 2023 Introduction On 22 February 2023, the Guyana High Court handed down its decision in the action brought by newspaper publisher and crusader Glenn Lall. The action was filed on 22 January 2022 naming the Attorney General as the…