Opinion
Esso’s, Hess’ and CNOOC/Nexen’s Recoverable Costs mount
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 71 – July 26, 2019 Introduction Today’s column summarises some of the principal information extracted from the audited financial statements of the three Contractors to the Petroleum Agreement signed on June 27, 2016. The financial statements are filed with the Commercial Registry and…
Guyana to be responsible for cleaning up oil spills (an impossible task)
Oil companies exist for the sole purpose of making money. To get their vast profits, oil companies have exterminated massive amounts of precious biodiversity through oil spills and petrochemicals, including by-products such as plastic and artificial “fertilisers”. Oil companies have lied about global warming while pushing us into catastrophic climate change. ExxonMobil has been implicated…
Exxon adduced no data to show that this is a fair contract
How would you use data to explain that this is a fair contract to the average Guyanese? On Thursday July 18th, the Stabroek News published an interview of Mr Henson, ExxonMobil Country Manager. Mr Henson is quoted as saying, “The contract is a fair contract. It absolutely is a fair contract given the risk profile…
Landlordism in the Oil and Gas sector (Continued)
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 70 – July 19, 2019 Introduction Following up on last week’s column we have set out below a Table summarizing the Profit and Loss Statement of Mid-Atlantic for each of the years 2013 (part-year) to 2018 extracted from the company’s audited financial statements…
ExxonMobil didn’t “strong arm” Guyana, it severed our arms with a lopsided deal -Certified PublicAccountant
In 2016, the APNU+AFC Government renegotiated a Production Sharing Agreement (PSA) Guyana had with ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited (EEPGL), and its two other partners, Hess Corporation and CNOOC/NEXEN. After unceasing calls for its release, the PSA was finally made public in December 2017. From then to now, everyone besides ExxonMobil and…
Landlordism in the Oil and Gas sector
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 69 – July 15, 2019 Introduction The Public and Government Affairs Advisor of ExxonMobil Ms. Janelle Persaud has disclosed to the press that its subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), has applied for its Petroleum Prospecting Licence for the Canje Block…
A new administration can rescind the current Petroleum Agreement
If an agreement is signed between the Government and a third party, can a new administration rescind that agreement?After reviewing what the Trump administration did with the Paris Club agreement and the Iran Nuclear Deal agreement, I am of the opinion that a new administration in Guyana can do the same.President Obama’s administration signed the…
Bright light needs to be shone on MNR/GGMC over award of oil blocks
The objective for awarding oil blocks is to generate the maximum oil revenue (money) over the long-term for the benefit of the whole country. We benefit from the sensible spending of oil revenue to improve quality of life and to create meaningful jobs. We also benefit by the saving of part of the oil revenue…
Why Ring-fencing matters and why it does not?
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 68 – July 5, 2019 Introduction This column has had an extensive rest – more than half the year while more and more of the defects and inadequacies of the infamous “ExxonMobil” Petroleum Agreement have been exposed. Paradoxically, it seems that it is…