I refer to Mr. Reggie Bhagwandin’s letter, “Oil deal was designed to cater for the nature of the industry” and wish to comment as follows: An argument for tax waivers for Foreign Companies – Profits are not guaranteed. Business is very competitive. Therefore, it makes good sense for host governments to grant tax waivers for…
As per the 2016 Stabroek Block contract, for the oil production lifecycle, from the preparation for oil production to when the oil is finally sold, the oil companies pay no taxes (see Article 15.1). The applicable income tax laws assess the Contractor’s tax due on taxable income (Article 15.3) and the Minister agrees to pay…
Washington, DC — Today, Guyanese citizens filed the first constitutional climate case in the Caribbean to challenge fossil fuel production on the grounds that it exacerbates global warming and threatens human rights. The case, before Guyana’s Constitutional Court, claims that Guyana’s approval of a massive, ExxonMobil-led oil and gas buildout off the country’s coast violates the…
Guyana Extractives Industry Transparency Week. A virtual Guyana Extractives Industry Transparency Week (GEITW) from June 7-11, 2021. This one-week event is focused on bringing together government, industry, civil society organizations, journalists, and the general public under one forum to discuss Guyana’s ongoing pursuit of good governance and transparency in the extractives sector. Key areas of…
Today’s column explores the proposed gas-to-shore project. Off the bat, I must declare that converting the present heavy fuel power plants to natural gas makes sense. Indeed, in June 2015, I wrote a column, then under Development Watch, arguing for the transition from high-polluting heavy fuel to less-polluting natural gas power plants. However, the same…
December 20th marked the one-year anniversary of oil being lifted from Guyana’s ocean floor. Who has benefitted the most from our oil? Is it the people of Guyana or the oil companies? Certainly, there doesn’t appear to be any significant oil benefits to the more than 30 percent of Guyanese living on US$2 a day….
Guyanese businesses are paying 40 percent taxes on operating profits for commercial activities. In contrast, the oil companies enjoy a tax-free ride on their oil profits. For the oil production lifecycle, from the preparation for oil production to when the oil is finally sold, the oil companies pay no taxes. The oil companies have business…
The 2016 Stabroek Block oil contract between the oil companies and the Government of Guyana violates many of Guyana’s laws compared to the original 1999 contract, according to local legal experts. The Government seems content to ignore our own national laws. None of the violations in this oil contract have been challenged in court as…
Educational Infographics: Guyana Oil & Gas Reserves: https://www.oggn.org/infographics/guyana-oil-blocks.html 2. Oil Contracts Timeline: https://www.oggn.org/infographics/guyana-oil-contracts-timeline.html 3. Guyana Oil Well Data: https://www.oggn.org/infographics/guyana-oil-wells.html 4. Comparison of Guyana and Suriname Oil Contracts: https://www.oggn.org/infographics/guyana-vs-suriname.html 5. Countries that have some control of Oil Production: https://www.oggn.org/infographics/control-production.html Educational Videos Here is our playlist of 9 educational videos:
https://www.oggn.website/wp-content/uploads/2019/10/oggn-guyana-oil-jobs-directory.pdf
