Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 117 – December 22, 2023 Introduction The International Monetary Fund and the Inter-American Bank have both expressed concerns about the structure and operations of the Natural Resource Fund, one of the PPP/C’s flagship projects directly associated with the oil and gas economy. This…
A priest once said with reference to a local bigwig in Guyana, an impoverished country perched on the northern shoulder of South America: “first you get on, then you get honest.” That is, you need to acquire wealth before you can be philanthropic. Little of that culture of philanthropy appears to have survived among the…
Your editorial ‘IACHR resolution’ on 30 July 2023 summarises the resolution about the dreadful long-running case of illegal mining at Chinese Landing. The Inter-American Commission on Human Rights had previously addressed the complaint about similar problems at Isseneru. The two documents are well worth reading for the careful histories of events, and summaries of the very dubious…
All Guyanese should read the SN letter of March 28th titled, “Bhagwandin’s disclosure about the Vreed-en-Hoop shore base raises more questions than answers provided” by Isiah Francis. Francis was responding to Joel Bhagwandin’s article of March 26th in which he spilled the beans on the shorebase project. His article titled, “Vreed-en-Hoop shore base is not…
Utilizing data reported by the International Monetary Fund (IMF), the Bank of Guyana (BoG) and Kaieteur News (KN), I will show that EEPGL has already recouped their investment; that they are earning significant profits; and that Guyana’s share will remain at meager levels for our non-renewal resource, unless the PSA is renegotiated. According to the…
I refer to a press release from the Department of Public Information dated 06 July on the illegal sale of carbon credits from forests on titled Amerindian Village Lands. The press statement mainly includes legally incorrect and misleading statements by the Vice-President, and which are damaging to Amerindians. Does Vice-President Bharrat Jagdeo understand that a…
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…
If I were in the GoG, I’d insist Exxon sign the PCG letter agreeing to Full Liability Coverage. Sign the letter – and go on with your Oil Drilling. Observe Safety Rules. End of story. All oil drilling is done on a Wing and a Prayer. Hope an accident never happens – but if it…
By Stabroek News July 1, 2022 Dear Editor, Recently, I read a report prepared by SPHEREX Analytics, an accounting firm that produced the 2020 and 2021 financial statements for Esso Exploration and Production Guyana Limited (EEPGL). In the report, it is claimed that, ‘… Guyana’s share in profit and royalty is greater than the net…
Introduction This is the case for renegotiation of the Petroleum Agreements between the Government of Guyana and ExxonMobil (“Guyana-Exxon agreements”). In my article dated 8 December 2017[1], I wrote extensively on the nature and types of stability clauses and their pros and cons. Most notably, what the Model Petroleum Contract describes as a Stability Clause…
