Opinion
We need leaders who have the strength to insist on the renegotiation of the Oil Agreement
The recent dismissals of Professor David Hinds and Mr Lincoln Lewis have not displaced the foremost news event in Guyana, this being the giveaway of Guyana’s oil patrimony. What the terminations have highlighted is how politicians attempt to justify indefensible acts, by using dishonourable, mendacious or facetious statements. The utterings by politicians to logically define…
Guyana should not auction remaining oil blocks – Oil Attorney
A local attorney who has extensive experience working with many oil companies is cautioning the current Government against making rash decisions when it comes to the remaining oil blocks offshore Guyana. This attorney, Melinda Janki, has said there should be no auction of the remaining blocks. Janki, who worked as an in-legal counsel for British…
The half-good oil contract may or may not bring chicken feed money
The previous column critically analysed the cost components of the production sharing agreement with ExxonMobil. We noted that the legal aspects did not cover all the possible cost scenarios, which is crucial for PSA-type contracts. In keeping with the theme of this series of essays, I argue the legal protection against cost uncertainty does not…
Exxon’s uncapped delivery costs will significantly affect Guyana’s 2% royalty
Is there any clause in the ExxonMobil Agreement that is in Guyana’s favour? In the eyes of the fledgling coalition Government, the “generous” two percent royalty and a 50/50 split of profit oil was one. But a closer look by local commentators shows that even this is a poisoned chalice. In his continued analysis of…
Questions for Ms Brasington
ExxonMobil’s Kimberly Brasington, Senior Director, Public & Government Affairs, recently made several comments to the media and at public/private gatherings in Guyana that give the impression to Guyanese of being condescending and pompous. In response to Ms. Brasington remarks to the Guyanese public; I have presented below a few questions for Ms. Brasington to answer….
Guyana fiscal take from oil bonanza will be around 37% – Tarron Khemraj
Economist Tarron Khemraj says that from all of the analyses he has seen of the oil deal for the Stabroek Block, Guyana will end up getting just around 37% of the gross revenues while ExxonMobil and its partners will cream off the rest. See more here
Chicken feed money and cost issues
The previous six columns asked the question whether Guyana could escape the natural resource curse. We have looked at the issue from various dimensions. In particular, we have observed that initial conditions prevailing in Guyana must be taken into account when making such a prediction. The present structure of the production economy and limited economic…
Trotman’s 2016 re-negotiation of the PSA with ExxonMobil has put government in a serious predicament
King Midas, it was said, had only to touch something for it to turn to gold. The Minister in charge of Guyana’s oil has perfected this talent in reverse: – The Minister’s 2016 re-negotiation of the PSA with ExxonMobil is a disgrace. It has put his government in a serious predicament and could prove a…
The state of the six sisters (rice, sugar, bauxite, gold, seafood, and forestry) versus oil
Over the past few years, the Guyanese economy revealed an economic illness that is tied to the state of the six sisters (rice, sugar, bauxite, gold, seafood, and forestry). There are tremendous external headwinds as the rest of the world pull ahead leaving the Guyanese economy in a sort of no-man’s land. Real GDP growth…