November 5, 2024
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We Need You: Guyana Oil Contracts Need Renegotiation

We Urge The Guyana Government To Renegotiate All Oil Contracts

We strongly urge the Government of Guyana to:

  1. Renegotiate all the oil contracts starting with the Stabroek Block contract before issuing the Payara permit. As is, Global Witness says Guyana will lose US$55 billion dollars on the Stabroek Block. Guyana's budget for a year is approximately US$1.4 billion.
  2. Ensure that a new deal results in a substantial increase in the financial benefits for the Guyanese people. The current 2% is robbery and 15% is royalty.
  3. Insist that Guyana should not be paying taxes on behalf of the oil companies.
  4. Require that the oil companies should not be flaring billions of cubic feet of Guyana's gas without penalties. It is estimated that it would cost about US$24 million to remove the 9 billion cubic feet of carbon dioxide produced from flaring. The flaring continues.
  5. Create a clear agreement that removes liability from Guyana paying for oil spills or any other harm to the environment. The oil companies should bear the full responsibility.
  6. Demand better local content policy and it should be enshrined in law.
  7. Establish a petroleum commission with broad representation from all sectors of society including qualified experienced experts from the diaspora with adequate resources to execute its investigative, oversight, and enforcement functions.

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https://www.oggn.org/guyana-oil-contracts-need-renegotiation/

We strongly urge the Government of Guyana to:

  1. Renegotiate all the oil contracts starting with the Stabroek Block contract before issuing the Payara permit. As is, Global Witness says Guyana will lose US$55 billion dollars on the Stabroek Block. Guyana’s budget for a year is approximately US$1.4 billion.
  2. Ensure that a new deal results in a substantial increase in the financial benefits for the Guyanese people. The current 2% is robbery and 15% is royalty.
  3. Insist that Guyana should not be paying taxes on behalf of the oil companies.
  4. Require that the oil companies should not be flaring billions of cubic feet of Guyana’s gas without penalties. It is estimated that it would cost about US$24 million to remove the 9 billion cubic feet of carbon dioxide produced from flaring. The flaring continues.
  5. Create a clear agreement that removes liability from Guyana paying for oil spills or any other harm to the environment. The oil companies should bear the full responsibility.
  6. Demand better local content policy and it should be enshrined in law.
  7. Establish a petroleum commission with broad representation from all sectors of society including qualified experienced experts from the diaspora with adequate resources to execute its investigative, oversight, and enforcement functions.
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Please note this is a continuation of the petition below which we already had 1,622 votes, see PDF and image below:

http://www.oggn.website/wp-content/uploads/2019/10/renegotiation_petition.pdf

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