Opinion
Who feels it knows it
Just last week, the newspaper headline said “Exxon posts highest profit in its history: Guyana seen as pivotal part of its portfolio.” This is a company that has a history of over 150 years in the world. The Guyanese offshore oil wells (that international news stories are calling a “high return asset”) have been a…
The only culture that matters in business practices is the value placed on our assets
I write with reference to the letter titled ‘Culture is central to how we approach negotiations in an international setting.’ The writer posits that Guyana’s ‘cultural framework’ is somehow at variance with international, or at least North American/ European norms. Really? The briefest scrutiny of their supposedly ‘rigid business practices’ is instructive.
Mr Bhagwandin is operating completely in the dark with his calculations
I am responding herewith to Mr. Bhagwandin’s letter to the Editor of Stabroek News published October 8, 2022, and entitled `The overall objective of the PSA is to obtain a higher profit share after fully recouping investment costs’. First, I fully agree with other online commentators that there was no need for Mr. Bhagwandin to…
This undefined capital expenditure can end up being a ploy to hide the real oil profit due to Guyana
By Stabroek News October 11, 2022 Dear Editor, Permit me to respond to Joel Bhagwandin’s letter in SN of October 8th, captioned, ‘The overall objective of the PSA is to obtain a higher profit share after fully recouping investment costs’; but before doing so, I would like to recommend that Joel Bhagwandin take some finance…
Do Guyanese politicians understand the scale of the oil giveaway?
If you owned one of the nicest houses in an exclusive neighbourhood, would you sell your house for a fraction of what other sellers are receiving? Guyana is receiving significantly less money from its oil production than other countries. But some Guyanese politicians hide behind the porous façade of the sanctity of contract while others…
EEPGL and auditors should explain why total revenue is included in the PSA’s cost function
By Stabroek News October 4, 2022 Dear Editor, In the EEPGL contract, it is specified that Guyana will receive in the Production Sharing Agreement (PSA), 50 percent of the profits, after EEPGL extracts upfront, and without Guyana’s prior review of the cost, 75 percent of the total revenue as cost. This proportional linkage between total…
GECOM should seriously consider adopting electronic voting for any future elections in Guyana
Guyana’s General Elections of March 2, 2020, were marred by irregularities during the vote counting process, which led to a recount supervised by CARICOM. Subsequently, election petitions were filed at the Guyana’s High Court, which still await final resolution. Now have a look at Brazil, our neighbour to the south covering 49% of South America’s…