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Diaspora, Oil and Climate Change:Some Issues for Guyana
See video here: https://youtu.be/Vj_086ZqiVU?t=3428
Total Oil Extracted from 2020 to 2024
Guyana’s Oil Extracted (2020-2024) Crude Oil Extracted (2020-2024) Year Volume (‘000 barrels) Value (US$ Million) 2020 26,605 1,064.1 2021 42,213 2,975.5 2022 101,051 9,853.8 2023 141,657 11,581.5 2024 224,708 17,993.2 Total 536,234 43,468.1 Crude Oil Trends (2020-2024) Crude Oil Export Trends (2020-2024)
For every $1 in taxes paid by Guyanese employees in 2024, oil companies avoided paying $6.49 in taxes.
Guyanese citizens pay taxes and expect everyone to pay their fair share. Tax revenue funds essential services, including the salaries of customs officers who verify foreign oil workers’ identities, and pensions for seniors. Given this context, it is troubling that oil companies pay no taxes on their profits. According to the Bank of Guyana, personal…
Guyana has received significantly less oil income compared to the oil companies’ profits
On Monday, June 16th, during an interview of Christopher Ram on a prominent Guyanese social media platform, outrageous claims were made by one of the co-hosts, a columnist for the Guyana Chronicle. The Chronicle columnist claimed that Guyana has received US$13 billion in oil income and that Guyana had received more than the oil consortium…
Oil Companies: Income Tax Expense (2020-2024)
Income Tax Expense Bar Chart Income Tax Expense Comparison (2020-2024) Note: Total Oil Companies Tax Expense was US$5,230,524,082.00 whereas Guyana’s total income was US$6,275,194,950.97
Guyana Oil Income vs Oil Companies Profit (2020-2024)
Guyana Oil Income vs Companies Profit Guyana Oil Income vs Oil Companies Profit (2020-2024) Total Guyana Income $6.28B 2020-2024 Total Companies Profit $29.00B 2020-2024 Profit to Revenue Ratio 4.6:1 Average 2020-2024 Key Insights: Both Guyana’s oil income and companies’ profit have grown significantly from 2020-2024 Oil companies’ profit consistently exceeds Guyana’s income by a factor…
2024 Stabroek Block: Guyana’s missing US$4.2 billion profit share
Pie Chart 2024 Stabroek Block: Guyana’s missing US$4.2 billion profit share US$2.6b received US$4.2b missing Guyana Actual Take: US$2.6 billion (14.6%) Guyana’s Profit US$2.2b and Royalty US$0.4b Guyana’s Missing Profit: US$4.2 billion (23.6%) Remaining Revenues: 11.0 billion (61.8%) Total 2024 Revenues: US$17.8b & Pre-tax profit: US$12.9b
Is this 50/50 Profit Share? Guyana received US$2.2 billion out of US$12.9 billion in 2024 pre-tax oil profits
Pie Chart 2024 Stabroek Block: 50/50 Pre-tax Profit Share? US$2.2 billion (17.1%) US$10.7 billion (82.9%) Guyana: US$2.2 billion (17.1%) EMGL/HESS/CNOOC: US$10.7 billion (82.9%) Total Stabroek Block Pre-tax Profits: US$12.9 billion Pie Chart 2024 Stabroek Block: 50/50 After-tax Profit Share? US$2.2 billion (21.2%) US$8.2 billion (78.8%) Guyana: US$2.2 billion (21.2%) EMGL/HESS/CNOOC: US$8.2 billion (78.8%) Total Stabroek…
Stabroek Block 2016 PSA Agreement was a Coalition copy of the PPP/C’s 1999 Contract and does not preclude our prerogative to ringfencing
It is sickening to look and listen to a daily diet of the PPP/C’s blatant falsehoods suggesting that the terms in the lop-sided Oil Contracts were created by the APNU/AFC Coalition – a lie perpetrated to cover-up the PPP/C’s spinelessness in not seeking Contract renegotiations to make a better deal with Exxon for a fair…