An article in Kaieteur News (07-Aug-2018, ‘The Department of Energy will decide if it needs Dr Mangal’s expertise – Harmon’) gave the impression that I was “assured” by the government of being re-engaged. This is incorrect. I was never assured by the government of being re-engaged nor did I seek to convey this impression in…
With both major parties wedded to the belief that they must be good ambassadors for Exxon’s Esso, the race to genuflect lower before Exxon, has already cost Guyana billions of dollars. Exxon’s Esso controls over eleven million acres in and around the prized Stabroek Block, including 6.6 million acres of the Stabroek Block. Guyana’s super…
I was planning to write this week about the recent parliamentary debates over the role of the Bank of Guyana in the financial system and foreign exchange market. However, I will discuss the more recent appointment by President David Granger of the new head of the fledgling agency, the Department of Energy (DoE). There is…
It would take brave leadership for Guyana to overpower a giant. But such leadership seems lacking. As a result, Guyana may remain poor even with it tremendous wealth offshore. Chartered Accountant, Nigel Hinds said as much in a recent letter to the media. Hinds remains haunted by the existing Petroleum Sharing Agreement (PSA) that Guyana…
With less than two years to first oil, former Government Advisor on Petroleum, Dr Jan Mangal says the number of oversight personnel has to be swiftly ramped up to monitor the current operations and before ExxonMobil is given approval for its Liza Phase 2 Development Plan. He said that currently the Ministry of Natural Resources…
Guyanese on social media were euphoric last week when it was announced that the country now has at least 4 billion barrels of recoverable reserves. This would imply a capacity to produce 750,000 barrels per day. OilNow reported Minister Trotman as being very optimistic and even carried the headline “The coming oil bonanza.” Members of…
Former Petroleum Advisor to the Government, Dr. Jan Mangal, is not surprised by the glowing reports of Rystad Energy, a Norwegian research company, which predicts that Guyana will get massive returns from its oil deal with ExxonMobil. That’s because Dr. Mangal says that Rystad Energy is part of ExxonMobil’s lobbying machine. In his Facebook page,…
On Thursday June 22, 2018, the Wall Street Journal published an article titled “Eureka! Giant Oil Find Set to Bring Guyana Startling Riches—Maybe”. The Wall Street Journal is among the top business newspapers in the world. It is widely read by many investors and business people such as Warren Buffett and Bill Gates. Thus, it…
Dr Jan Mangal, former petroleum adviser to President David Granger yesterday disclosed on his Facebook page that someone in government had proposed sole-sourcing the sale of Guyana’s oil to mining and commodities giant, Glencore. Mangal’s statement follows his declaration that in the coming weeks he will outline a number of things including the “mechanism used…
