Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 108 – April 9, 2023 Introduction Part 107 of this column took up the issue of the construction of a Head Office building by Esso Exploration and Production Guyana Limited at Ogle, ECD and asserted that the whole saga is rife with misrepresentation,…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 103 – March 3, 2023 Introduction On 22 February 2023, the Guyana High Court handed down its decision in the action brought by newspaper publisher and crusader Glenn Lall. The action was filed on 22 January 2022 naming the Attorney General as the…
By Stabroek News October 11, 2022 Dear Editor, Permit me to respond to Joel Bhagwandin’s letter in SN of October 8th, captioned, ‘The overall objective of the PSA is to obtain a higher profit share after fully recouping investment costs’; but before doing so, I would like to recommend that Joel Bhagwandin take some finance…
By Stabroek News August 10, 2022 Dear Editor, Permit me to respond to a letter dated August 6, 2022 written by Joel Bhagwandin, Financial Analyst, captioned,’ Guyana poised to earn close to US$5b annually when the four approved oil platforms are producing concurrently’. In that letter, it is stated that,’ Professor Hunte failed to cite…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 100 – July 8, 2022 Introduction By a strange coincidence, this 100th. column features the 2021 financial statements of Esso Exploration and Production Limited, the designated Operator and holder of a 45% interest in the Stabroek Block under the 2016 Petroleum Agreement. Esso…
By Stabroek News July 5, 2022 Dear Editor, I refer to a letter published in the July 3, 2022 Sunday Stabroek, captioned, ‘Depending on the amount of wells explored Guyana’s 14.5% take will increase at some point in the future’, and I would like to make a few observations. First, the writer states that, ’… Guyana’s…
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…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 98 – June 24, 2022 Introduction Last week’s column began a short series on the 2021 financial performance of the three companies – Esso, Hess and CNOOC – which hold 45%, 30%, and 25% respectively of the highly productive Stabroek Block, a find…
By Stabroek News September 21, 2022 Dear Editor, In a SN article dated 8/15/2022 and captioned, ‘Guyana set to receive 12 lifts of profit oil for 2022 – Ministry’, it is reported ‘…that the expected total production of oil in 2022 is 93.6 million barrels of oil… (from which) …Guyana will get an estimated 12…
Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 64) Introduction Figures contained in the 2017 financial statements of Esso Exploration and Production Guyana Limited indicate that the three-party set up of Esso, Hess and CNOOC Nexen will spend well over five hundred billion dollars ($500,000,000,000) up to December 2019. The three companies…
