The word “Re-negotiation” as in “Re-negotiation of the Oil Contract” seems to be a loaded word. So, avoid using that dreaded word. Ask the oil company for a sit-down meeting and say simply, “Can we improve some of the terms of the Contract? Editor, I have read a letter in yesterday’s SN by Darsh Khusial,…
I read without surprise, the August 10, 2024 KN clip “MP Vickram Bharrat provided misleading, deceptive information to Parliament on rate of oil production – David Patterson”. We all know that “misleading and deceptive” are parliamentary jargons for “lies”; but, in all fairness, let’s also charitably attribute some of the Honorable Minister’s mouthings to ignorance….
I refer to a letter captioned, ‘Let’s feel good about what we are getting from our oil’ written by His Excellency Samuel Hinds, Ambassador, Former Prime Minister, and Former Acting Preisident of the Cooperative Republic of Guyana. In that letter, it is stated… ‘If we have troubles absorbing the US $4.4 billion according to some…
There is a joke that you may have heard in some accounting classes. During an interview, prospective candidates were asked what was 2+2. The engineer answered 4, the journalist 4, and the lawyer 4. The accountant leaned over and whispered, “I can make it any number you want”. There is a great point behind this…
Guyana became a member of the Extractive Industries Transparency Initiative (EITI) on October 25, 2017. Since then, the country has been expected to adhere to EITI standards by disclosing key financial data related to its extractive industries. The Oil and Gas Governance Network Guyana (OGGN) has consistently raised concerns about the lack of transparency regarding…
Dear Editor, We write in connection with the new draft oil law. We would appreciate information on the following: The timetable for this new Bill, including the parliamentary process and committee stages of consideration and amendment; How this timetable compares with the customary timetable for tabling and revising Guyanese legislation; The process which will be used…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 138 – September 28, 2024 After years of dithering and delays, the People’s National Congress Reform (PNC-R) recently unveiled a 20-point plan – more a statement of intent – for managing Guyana’s fast-moving oil and gas sector. This plan, coming eight years after…
By Elizabeth Deane-Hughes We were unprepared and undereducated for the Oil Industry in 2016. Fast forward to 2022 and the Gas aspect of the Oil & Gas industry is about to start up on very faulty grounds and yet still we are unprepared and undereducated. The oil and the gas sectors of the one industry…
Making prediction in a complex and nonlinear world often involves identifying initial conditions and then sequentially reasoning (or solving) forward. One way of knowing how well Guyana will do with its newfound oil and gas resources is to consider the initial conditions that exist in the country today. In this column and future ones, I…
