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Local content is not Ads, publications, catering and taxi services
From: https://www.kaieteurnewsonline.com/2018/06/06/local-content-is-not-ads-publications-catering-and-taxi-services/ On Monday, Opposition Leader Bharrat Jagdeo called for the Government to publish the list of 309 companies ExxonMobil said it used last year to support its operations. Instead, the Government released, yesterday, a list of what it said were registered companies used by the oil giant for the first quarter of 2018. That list…
Ramkarran’s estimate of government revenue from oil is too high
Concerns from Aug 14, 2016: Ralph Ramkarran, in his article in SN of August 7, 2016 ‘Guyana’s future as an oil producer’, estimates that Guyana can expect revenues of US$5.5 billion a year from the recent Liza oil discovery by ExxonMobil and partners. Ramkarran uses three variables to arrive at his figure: an oil price…
People pressure led to release of oil contracts
President of Transparency Institute of Guyana Inc (TIGI), Troy Thomas says he believes that it was pressure from the people that saw “the unprecedented” release of oil contracts by the government. “It is therefore important that we recognize the significance of this development and push for this to become the standard for dealing with contracts…
A FAIR DEAL FOR GUYANA – A FAIR DEAL FOR THE PLANET
The seas surrounding Guyana are under threat by big oil companies. We believe that the Government of Guyana is putting the natural world and our common home in danger. Our legal cases will help protect the ocean, biodiversity and the global climate system for the benefit of each one of us. The legal cases will…
Overseas firm to advise on remaining oil blocks – Trotman
An international firm will advise the Guyana Government on how to market the country’s remaining unassigned oil blocks, according to Natural Resources Minister Raphael Trotman. “Cabinet has determined that an international firm will be retained to guide and advise that process going forward,” Trotman told Sunday Stabroek. “A short-list of capable firms is being compiled…
ExxonMobil strangles Guyana with Stability Clause but has none with Ghana
Foreign companies often advocate the use of a “stability clause” in the quest for certainty of contractual provisions. This clause seeks to secure the oil contract and benefits therein for the oil operator, against future government action or changes in the law. Stabilization clauses freeze the essential provisions of the contract. Different countries have used…
10% royalty on oil production should be Guyana’s top priority – Hinds
In order to capitalize on oil discovery here, the Government of Guyana must renegotiate the current petroleum agreement with ExxonMobil and its affiliates to reflect an increase from a two percent royalty to 10 per cent. This view was shared by Chartered Accountant, Nigel Hinds, who provided Kaieteur News with a detailed breakdown of opportunity…
Exxon contract final -Harmon
The controversial Production Sharing Agreement (PSA) signed between the government and ExxonMobil’s local subsidiary and partners is final and will not be subject to any changes, Minister of State Joseph Harmon said yesterday. “The President has said it—that we have dealt with the ExxonMobil contract and that we are not going back on it. It…
‘No prospect’ at this time of Exxon contract review – President
Despite noting that there is “no prospect” at this time for a review of the controversial Production Sharing Agreement (PSA) between the government and a subsidiary of oil giant, ExxonMobil, President David Granger said yesterday that the matter is engaging the attention of Cabinet “These matters are before Cabinet and it depends on what determination…