Some initial conditions as first oil beckons
If we want to say something about the future state of an event, we have to account for the initial conditions. Given that we live in a complex world, the outcomes often depend on the initial conditions. It is possible that one initial condition could produce multiple outcomes, making the task of prediction fraught with…
Exxon is also robbing Guyana of its independent leaders and columnists
Freddie Kissoon in his Kaieteur News column dated September 5, 2019 stated: “I am bamboozled by the insane frequency of the condemnations of Exxon, but no condemnation of the hate Sanjeev said is currently threatening Guyana.”Another columnist wrote in similar vein of Guyanese condemning Exxon “… your Eyewitness is getting a tad tired with the…
I applaud Govt. for curtailing uncapped interests
Dear Editor, I applaud the government for announcing that ‘uncapped interests’ will not be recovered as expenses in oil and gas exploration and production (KN Sep 12). I salute the media and other forces for being vigilant on the oil industry exposing shenanigans and looking out for the country’s interests unlike some politicians who are…
Guyana could lose US$8 to 16 billion in interest rates from Exxon – Canadian engineer
Guyana’s Production Sharing Agreement (PSA) with ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), for the Stabroek Block has fielded major criticisms for a range of provisions, or the lack thereof, which are disastrous for Guyana.Now, Darshanand Khusial has stated that a failure to define “market rate” as it is stated in the Contract…
BILLIONS OF US DOLLARS COULD BE LOST BY FAILING TO DEFINE “MARKET RATE” IN THE OIL CONTRACTS
Guyana is responsible for paying the interest on the oil companies’ loans. This fact is buried in the Production Sharing Agreements (PSA). (Stabroek Block PSA, Annex C Section 3.1 part (l)). The interest rate to be paid is loosely noted as “market rate”. This flaw may cost Guyana billions of US dollars. It takes just…
The truth about the Royalty in the Esso/Hess/CNOOC-Nexen Petroleum Agreement
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 76 – September 6, 2019 Introduction For some time, questions have been raised about the royalty provisions in the 2016 Agreement under which Trotman/Greenidge/Granger partially signed away the birthright of all Guyanese past, present and future. This short column seeks to identify both…
Chapter #7 – Exxon Contract: A major oversight or wilful blindness? – The procurement act 2003
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,…
ExxonMobil’s Road Show
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 75 – August 30, 2019 Introduction Two weeks ago in Toronto Canada, the organisation Caribbean Council of the Americas (CCA) in a public advertisement invited the Guyanese community and “other interested parties in the greater Toronto area to learn about all and gas…