Normally, the bigger the company is, the less likely it is that any single decision or event will impact it significantly. But that isn’t the case with oil giant ExxonMobil (NYSE: XOM), which has gone all in on an unexpected oil play. See more here
t will be the biggest political blunder if the new PPP government fails to renegotiate all oil contracts now including the ExxonMobil contract. Such a blunder may well lead to its losing office in 2025. The masses are not asses. President Ali and Vice President Jagdeo must speak clearly now to the nation and tell…
There are many unanswered nuanced questions surrounding the Petroleum Sharing Agreement, PSA2016, and Guy-ana’s budgetary matters omitted in the article SN 2025-01-13, regarding the long-term welfare of the nation. The contract templates were carried into the new 2016 contract as if the two major parties were in agreement on the new 2016 contract. The 1999…
The World Bank is undercutting its own carbon reduction commitments and putting entire Caribbean ecosystems at risk by directing US$55 million to support fossil fuel extraction off the coast of Guyana, campaigners at Sassenberg, Germany-based Urgewald charged yesterday, after a Guyanese high court cleared the way for colossal fossils ExxonMobil, Hess, and CNOOC to continue…
Introduction This is the case for renegotiation of the Petroleum Agreements between the Government of Guyana and ExxonMobil (“Guyana-Exxon agreements”). In my article dated 8 December 2017[1], I wrote extensively on the nature and types of stability clauses and their pros and cons. Most notably, what the Model Petroleum Contract describes as a Stability Clause…
Kaieteur News – As Guyana continues its accelerated agenda in the oil and gas industry, Petroleum Engineer and former Head of the Environmental Protection Agency (EPA), Dr. Vincent Adams has pointed out the need for more Guyanese to add their voices to the call for better management practices. Petroleum Engineer and former Head of the EPA,…
PARIS (Reuters) – French oil and energy group Total has bought stakes in some offshore Guyana oil production blocks, boosting its presence in the potentially lucrative Guyana basin. Total said it was buying a 35 percent working interest in the Canje Block, in an agreement signed with an affiliate of Canadian company JHI Associates Inc….
The claim by the National Toshaos Council (NTC ) that it is the ‘sole, legal and legitimate’ body that represents the interests of Amerindians in Guyana (Department of Public Affairs, ‘NTC affirms its position as legitimate representative body of Amerindians’, 24 November 2023) has no legal basis. This claim is an unreasonable/erroneous extrapolation of the…
If you are lending money, you want to ask yourself two main questions as part of due diligence. The first, can the borrower repay the entire loan when the loan comes due. And, the other, are you being paid a fair interest rate for the risk you are taking on with a particular borrower. On Wednesday, October 28th,…
There is no provision for any effective Royalty in the 2016 Production Sharing Agreement, PSA2016. Guyana receives 2 percent as ownership rights called Royalty (usus rights). There are two other classes of rights in the design of business contracts; transformation rights and fruits of production rights. Zero value is assigned for transformation rights (abusus rights), such…
