OGGN Members
Why are we paying US$4.3 billion more for Payara when compared to Liza Phase 1?
If you are lending money, you want to ask yourself two main questions as part of due diligence. The first, can the borrower repay the entire loan when the loan comes due. And, the other, are you being paid a fair interest rate for the risk you are taking on with a particular borrower. On Wednesday, October 28th,…
Ruling on Exxon’s Liza permit sets precedent – Khusial
Kaieteur News – Darshanand Khusial of the Oil & Gas Governance Network (OGGN) has hailed the recent ruling of the High Court on the legal duration for ExxonMobil’s Liza Phase One permit as a good step, and an indication that Guyanese can make real positive changes.The challenge was brought against the environmental permit by former…
Guyana’s share of oil revenues will be a nightmarish low of 14.5% for many years to come
A prudent homeowner, who wanted to sell his house, would gauge what is a fair asking price by surveying the sale price for other houses in his neighbourhood. It would spin in his mind for years, if after the sale, he discovered that he had sold his house for a large discount to what a…
Gov’t should begin treating oil costs the same way it handles the budget
On social media, one can find many speeches by members of parliament debating the 2020 budget for Guyana. The budget outlines the allocation of money to the major activities that keep the country running. Issues such as how much will be spent on health care to the amount of dollars pensioners will receive are determined…
Government must not compromise on review of the oil contract
The four-column headline, “Delays could risk long-term value of Guyana’s oil” in the state-owned paper is wrong-headed. It reads like the work of a clever PR-person, produced and paid for by the oil company. The fact that it is published in the state-owned paper suggests collusion, and worse, a sellout.The arguments made in the article…
Attorneys Datadin, Jonas – Are they For or Against Renegotiation of the Oil Contract?
Both distinguished lawyers appeared on the Charles Sugrim Globespan show on Monday night (August 31st), and fielded a question from Dr. Jerry Jailall: “Are you for Renegotiation of the Oil Contract?”Attorney Timothy Jonas’ gave a very nuanced answer. He said, “if you have a citation where I said I am against, send it to me”….
We need strong leadership like that demonstrated by Dr Adams to protect Guyana
A patient with cancer would want an experienced world class oncologist to give the diagnosis and prescribe the treatment. For a life changing event, one wouldn’t fire the oncologist in the middle of their assessment and then seek advice from a replacement with much less qualifications and experience. But it appears the Government of Guyana…
WHAT HAS BECOME OF THE MANDATE TO RENEGOTIATE THE OIL CONTRACT?
Let’s make a few things clear: Payara Approval has been put on hold to allow for a review of field operations, how to conduct drilling, avoid a well-blowout, etc. It is really an engineering review. Nothing to do with review of the Contract.The Guyanese people want a renegotiation of a few basic issues of the…
Give up the Amaila Falls hydro project, invest in solar energy
I again advise the government to give up the Amaila Falls hydro project. Economists would be better able to handle the problematic sourcing of funds, so I would like to comment in my capacity as an energy technologist with some plain figures. At the last quoted price of US$858.1M for 165 MW, it works out…