There are important issues raised in Joel Bhagwandin’s [JB] letter in SN – March 26, 2023 that are very important for Guyana, as the new oil economy unfolds. Principles related to ownership rights and corporate funding determine future incomes earned from such ownership rights. Future tax payments are also related to the classification of corporations…
WHEN oil companies sell the oil and gas that they extract from Trinidad and Tobago (T&T), over 80% of the revenue is paid to third-party contractors for goods and services. These contractors are often international companies that get paid in foreign currency which they take out of T&T. Many of these foreign companies pay little…
I read with disgust and resentment, news media reports of recent statements made by Exxon’s Production Manager, Mr. Mike Ryan who carries the same tune as his boss, Mr. Routledge. There seems to be no end to the imperious and disrespectful behaviour of these two gentlemen towards the people of Guyana believing us to be…
Introduction Last week’s column provided additional data on the first of four features of Guyana’s recent oil and gas discovery; that is, its physical/geological configuration. The column amplified on three attributes: the geological make-up; its location offshore; and, the size or quantum of potential reserves. Today’s column amplifies on the second feature, namely, the project…
Dr. Tulsi Dyal Singh writes: I spoke about the flaws in the PSA at length at my Moray House talk three years ago. In fact, I tried to console the audience with a riff based on that old primary school poem, “If”. (SN July 5th). I don’t know what Dr. Tulsi Dyal Singh said about…
Should or will the population defer to the politicians (government) on oil and political decision making? If the politicians think so, they better think again. The people are not sleeping on oil politics. They are gradually waking up to the realities of oil and will demand a fair contract and distribution of the revenues.They are…
In our last article, we dealt with the miscalculation of the licence area in the contract with Exxon. Prior to that we discussed some history which suggests that the claim that Venezuelan belligerence was the justification for the resort to illegality in the invention of wholesaling of license blocks when no such concept was available,…
