Opinion
Regardless of the number of wells explored Guyana’s profit share remains tied to 14.5%
By Stabroek News July 5, 2022 Dear Editor, I refer to a letter published in the July 3, 2022 Sunday Stabroek, captioned, ‘Depending on the amount of wells explored Guyana’s 14.5% take will increase at some point in the future’, and I would like to make a few observations. First, the writer states that, ’… Guyana’s…
Hiding the Terms of Reference for Uaru scoping will only increase suspicion that EPA is exempting vital environmental impacts
I attended the Esso Exploration and Production Guyana Limited (EEPGL) public scoping presentation on the Uaru project 5.00-7.15 pm on Monday May 23, 2022, at the Umana Yana, Georgetown, Guyana. The only positive things I can say are that the presentation by EEPGL’s new man, Anthony Johnson, was clear, readable and concise, and the presenters…
Token GRA tax receipt helps Hess avoid paying taxes in the US
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 99 – July 2, 2022 Introduction In this Part 99, we address our attention to the 2021 audited financial statements of Hess Exploration and Production Guyana Limited (the branch) which despite its name, is in fact a branch of a Cayman Islands incorporated…
Objections & Related Questions re the Environmental Impact Assessment (EIA) and Environmental Impact Statement (EIS) for the proposed Esso Exploration and Production Limited’s (EEPGL) Gas to Energy Project
https://www.oggn.org/wp-content/uploads/2022/07/Objections-Questions-EPA-EIA-Gas-to-Shore-Pipeline-20220618.pdf
A fair equilibrium for Guyana’s profit share must focus on a New Production Sharing Agreement
By Stabroek News July 1, 2022 Dear Editor, Recently, I read a report prepared by SPHEREX Analytics, an accounting firm that produced the 2020 and 2021 financial statements for Esso Exploration and Production Guyana Limited (EEPGL). In the report, it is claimed that, ‘… Guyana’s share in profit and royalty is greater than the net…
Declare the daily production of oil and gas
Now we have the Senior Finance Minister asserting at the Guyana Anti-Corruption Framework training workshop, organized by the Ministry of Governance, that he firmly believes transparency and accountability are crucial in the fight against corruption. He is following the lead of his President, who always maintains their government is transparent. Well, let them tell their…
Seventeen reasons why the ExxonMobil contract should be renegotiated
In my opinion, this contract should be considered null and void for the following interim reasons:1) This contract was not made in good faith, good intention, is biased and is not consistent with minimum international contracting requirements, practice, guidelines, procedures and laws.2) This contract is a production sharing contract/royalty (PSA), where Guyana is technically a…
PAY-ON-BEHALF AS A TAX CONCEPT? IT IS A FRAUD
The Executive branch of government and the GRA, a government agency, have finally decided to come clean on some very important provisions on the Oil Contract. They are at once revealing – and they are outrageous frauds and violations of all standards of decency.How well known is the Pay-on-Behalf concept in Oil Contracts – as…
On cost recovery and oil contract renegotiation
Recent discussions surrounding the cost recovery provision in the oil contract and the possible renegotiation served as motivation for this column. I intend to clarify and reemphasise several points I made on these topics in previous columns. Over the years, I have examined various topics which are still relevant to present deliberations. These include the…
Why would any President or VP of Guyana be concerned about “financial risk assessment” of Oil Companies investment in Guyana?
A SN daily blogger pesters me on this subject: Oil Companies’ financial risk assessment for exploration in Guyana. “Most politically unstable place in Caribbean”, he says. Five biggest Risks – Political risk, Geological risk, Price risk, Supply & Demand risk, Cost Risk. Seems clear the blogger is talking about political risk – gov’t overthrow, nationalization?…