Opinion
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…
This petroleum contract is not worth the paper it is written on
It is my honest opinion that Kaieteur News should be awarded with the highest honour of the land for their continuous reporting on the massively flawed Petroleum Agreement between the Government and the contractors (Esso/Cnooc/Hess) and by extension Exxon. This petroleum contract, signed by Minister Trotman (his initial RT is on every page of the…
Frontera’s US$33M signing bonus for portion of unproven oil exploration blocks exposes Exxon’s pittance payment -Jan Mangal
Canadian oil company Frontera’s recent payment of a US$33 million signing bonus for a 33% working interest in two blocks offshore Guyana without any confirmed commercial quantities of oil, should signal to government how much it lost when it renegotiated its Production Sharing Agreement (PSA) with ExxonMobil’s subsidiary in 2016 and got a mere US$18…
Chapter #6 – The miscalculation of the licence area
In our previous articles, we have charged that the contract is illegal for the simple reason that at its root the contract is based upon an illegality, to wit, the issuance of the entire area of 26,800 square kilometers under a single licence instead of as the law required, 6 or more independent pieces each…
Dr Tarron Khemraj talks about the political aspects of the resource curse
Presentation deck can be found here: Political aspects of the resource curse