Exxon is accused of cooking the books. One set of accounting records for shareholders (investors) and another for its management. This may have cost Exxon’s shareholders up to US$1.6 billion in damages. That is the case brought by the New York Office of the Attorney General (NY OAG) and now on trial. Even more concerning…
By Stabroek News August 10, 2022 Dear Editor, Permit me to respond to a letter dated August 6, 2022 written by Joel Bhagwandin, Financial Analyst, captioned,’ Guyana poised to earn close to US$5b annually when the four approved oil platforms are producing concurrently’. In that letter, it is stated that,’ Professor Hunte failed to cite…
The build-own-operate-transfer (BOOT) financial arrangement has been used around the world to fund important infrastructure in partnership between government and private investors. In this financing model, the private investor upfronts the initial investment cost and expects to be repaid over some time period. The investor has an expected rate of return before underwriting the project….
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 78 – November 22, 2019 Introduction Mr. John Hess CEO of Hess Corporation disclosed that his company paid US$30 million for a 30% stake in ExxonMobil’s Stabroek Block. This revelation, publicised in the Kaieteur News on November 19, 2019, is sure to have…
Since August 2020, the new PPP/C government has begun to implement an impressive two-pronged strategy. It intends to carry out pro-poor and pro-business policies to meet the “basic needs of every single Guyanese”, and secondly to develop good economic, financial, social and political governance policies to avoid the oil ‘Dutch Disease’. Without using any oil…
I have long considered Steve Coll’s book, “Private Empire ExxonMobil and American Power”, the bible on ExxonMobil. All government officials and ministers with responsibilities for the oil portfolio should take the time to do a serious study of this book. This book was published in 2012. Minister Trotman had renegotiated the Oil Contract in 2016…
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…
You are warmly invited to join the first Moray House Trust panel discussion of 2022: Title: The Natural Resource Fund Act Speakers: Tarron Khemraj, Mike McCormack, Christopher Ram Moderator: Alissa Trotz Date: Saturday 29th January 2022 Time: 5.00 PM Guyana — …
Dear Editor, On the occasion of Guyana’s 58th Independence Anniversary, President Mohamed Irfaan Ali is reported to have said that from 2020 to now (2024), the country’s life expectancy has increased by two years overall to 70 in males, and 74 for females. And that government’s new target is to increase overall life expectancy to…
