Gov’t cannot be making excuses about deferring oil returns to some future date
Equity ownership in a business implies that an investor becomes a shareholder; and therefore, has access to complete information; has decision-making authority that is based on the relative size of the funds invested; and receives a share of the total profits, calculated on the shareholder’s ownership of the total invested funds. In the case of…
ExxonMobil Guyana Limited profit squeeze
A distinguishing feature of the Production Sharing Agreement (PSA) between ExxonMobil Guyana Limited (EMGL) and the Government of Guyana (GOG) is the contrived way in which total cost is specified in the business. In particular, the total cost (TC) is specified as: TC = 0.75TR = 0.75PQ, where TR is total revenue, P is the…
Ram and McRae 2024 budget review
This document is posted with permission from Ram & McRae. The opinions in this document do no necessarily reflect the views of OGGN.
Venezuela achieved all that they set out for in their 2021 Acuerdo and the Joint Declaration of Argyle
In his letter published in Stabroek News on 13 January 2024, Mr. Nascimento re-stated my position. In his words, ‘it is only Venezuela which is the aggressor and, by its Referendum, threatens the use of force’. Why, then, would Guyana have felt pressured ‘with equivalence’ [Nascimento’s words] to let stand Point 1 of the Joint…
The NRF is indeed overstated
The Oil & Gas Governance Network (OGGN) Guyana notes that Stabroek News on January 13, 2024 carried a letter by Mr Dhanraj Deonarine with the title “Is the NRF really overstated?” The letter suggests that the claim by Mr. Ram that the Natural Resource Fund (NRF), Guyana’s Sovereign Wealth Fund, is overstated “is not such…
If GRA issued tax receipts to oil companies it must show it received the monies stated on those receipts
Thanks to Dhanraj for taking the time and effort to indulge in this debate. More Guyanese should get involved. (Ref – Dhanraj Deonarine’s letter, “Is the NRF really overstated?”, SN Jan. 13th). Here is the larger question on the subject: How can Oil Companies prepare their tax returns, submit them to GoG – and say…