President Ali frequently parrots the “sanctity of contract” in discussions of the Stabroek Block Petroleum Agreement (PSA) to convey that Guyana cannot change the contract. Yet the agreement was amended on April 26, 2019, by President Granger, to ensure that the 2% royalty could not be treated as a recoverable cost (see Stabroek News). Thus,…
If you have a large mortgage, you know how much it can shape every major financial decision. Do you replace a refrigerator that is on its last legs or a noisy washing machine? Do you keep the car for one more year to avoid straining the monthly budget? A large mortgage constrains financial flexibility. When…
In the past week, several commentators have stated that the spot price of Brent crude has been between US$120 and US$150 per barrel. This contrasts with the Brent crude futures price, which has been around US$105 per barrel. In its First Half Report for 2026, the Bank of Guyana (BoG) stated that the average price…
Dear Editor, As of 2026, there are now 4 deepwater oil operations in production, altogether sometimes pumping 930,000 barrels of oil equivalent (boe) a day, or US$2.4 billion in oil revenue per month, at today’s oil prices. There have been repeated calls for these projects to be ring-fenced. To quote Christopher Ram’s definition of Ring-Fencing,…
Dear Editor, As a follow-up to the recently published article, “There Is a US$6.7 Billion Difference Between the Oil Revenues Reported by the Bank of Guyana and Exxon”, there are also discrepancies within Guyana’s own official figures. Table VII of the Bank of Guyana’s 2025 Annual Report states that oil revenue for 2025 was approximately…
Dear Editor, On June 21, 2026, Kaieteur News quoted ExxonMobil Guyana’s Vice President and Business Services Manager, John Colling, as saying: “Through the end of 2025, there was over US$55B in the cost bank, of which US$51B had been recovered. As I mentioned in my prior talking points, US$4.5B was yet to be recovered by…
In a recent KN Article (https://kaieteurnewsonline.com/2026/04/19/exxon-and-partners-profits-soar-to-us29b-in-5-years-while-guyana-received-us5-4b-in-50-50-partnership/), it was pointed out that during the period 2020 to 2024, Guyana’s share of profit oil, which should have amounted to 50 percent of total profit (Article 11.4, 2016 PSA), was far less than expected. In fact, instead of Guyana receiving US$14.5 Billion, Guyana only received US$5.4 Billion, a shortfall of…
Dear Editor, According to a BBC press release, https://www.bbc.co.uk/mediacentre/2026/world-questions-guyana, it was announced that on Tuesday, March 10, BBC World Questions will travel to Guyana to debate the nation’s political and economic future. The discussion will focus heavily on Guyana’s vast oil and gas reserves. Panelists will include Dr. Ashni Singh, Minister of Finance, and Ms. Tabitha…
From EMGL’s Alistair Routledge on Oct 13th, 2025: “…And you’ll recall that prior to 2023 we were not making profits here in Guyana. So there were no tax credits from that….”, see https://www.stabroeknews.com/2025/10/14/news/guyana/us-taxpayers-not-subsidising-exxons-operations-here/ Judge for YOURSELF: In USD using an exchange rate of 210.50. Financial Statement ESSO EXPLORATION AND PRODUCTION GUYANA LIMITED (GUYANA BRANCH) STATEMENT…
