See press release here: http://www.oggn.website/fair-deal-for-guyana/ Purchasing a house is the largest financial decision most of us will ever make. Given the importance of this decision, the majority of buyers will defer to an expert whose competence is rooted in real estate. If the seller has hired a real estate agent then the buyer, even if he…
A recent article in the Stabroek News ‘No plans to revisit Exxon deal’ (Jan 26) suggests that the Inter-American Development Bank (IDB) was involved in the drafting of the Petroleum Commission Bill: “…the Inter-American Development Bank (IDB), International Monetary Fund and the Commonwealth had helped with the drafting of the proposed legislation and stakeholders consulted…
The previous essay established the developmental context under which we address the essential question of this series: could Guyana escape the natural resource curse? The best measure we have of development is perhaps the Human Development Index (HDI) and its iterations such as the Gender Development Index and inequality-adjusted HDI. At a minimum, escaping the…
Guyana is now hurrying to put measures in place to monitor and assess cost recovery claims. However, it has already tied itself to the repayment of US $460,237,918M. This is according to the 2016 Production Sharing Agreement (PSA) that Minister of Natural Resources, Raphael Trotman signed with ExxonMobil. See more here
Despite extensive criticisms about the 2016 Production Sharing Agreement (PSA) that Minister of Natural Resources, Raphael Trotman signed with ExxonMobil, Government has not seen the need for any further amendments to be made to the document. See more here
Minister Trotman is reported (18th Jan) as stoutly defending ExxonMobil’s investment here. He says that Guyana should focus on what has been gained. Like what? The 2% royalty? The Falkland Islands have negotiated 9%. This tiny territory of 4,000 people will get 4.5 times as much as Guyana on every barrel of oil. Tarron Khemraj…
By now many Guyanese are pondering the important concept known as the natural resource curse. Government ministers, high-paid government consultants and some news outlets have been talking about it since the discovery of high-quality crude oil in Guyana’s offshore waters. As early as 1995, the concept was first observed statistically by development economists and researchers…
Just days after its major oil find at the offshore Ranger-1 site in the Stabroek Block, ExxonMobil’s subsidiary, EEPGL is preparing to begin drilling at the Pacora-1 well site. According to an advertisement in today’s Stabroek News from the Maritime Administration Department, Esso Exploration & Production Guyana Ltd (EEPGL) will on January 25 begin a…
In relation to the newest Ranger-1 well announced a few days ago, it was said in an SN article: “It has more than 230-ft of high-quality, oil bearing carbonate reservoir which is now being described as the single largest find in the (Stabroek) Block. Questions may well be asked as to why the Ranger site…
Late last year the Wall Street Journal reported that Brazil received US$1.88 billion in signing bonuses for six exploration blocks during a process of competitive auctioning. Chad in 2001 received US$25 million in a signing bonus for sour crude oil with lower viscosity compared with Guyana’s high quality sweet crude. Signing bonuses are also paid…
