Opinion
For the Good Times
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 163 Introduction Following part one of this column, which was taken up by Kaieteur News, the Ministry of Natural Resources issued a defensive statement attacking the newspaper for questioning why ExxonMobil reported US$10 billion in profits while Guyana received only US$2.6 billion. Logically,…
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
The Financial Statements of Exxon, Hess and CNOOC – a story of opacity and confusion
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 162 Columns 159 – 161 examined the individual income statements of each Stabroek Block contractor in detail. Today’s column shifts focus to analyse the combined results of the three entities, providing a broader perspective on the collective financial performance and strategic positioning of…
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…
Volume of daily discharged hot produced water from Guyana’s first two FPSOs into the ocean may exceed five Marriott sized hotels
Dear Editor, The Oil and Gas Governance Network (OGGN) here amplifies Ms Danuta Radzik’s letter in Stabroek News on 30 May ‘Reported 77% reduction in fish exports and reduction on catches can be attributed to the tonnes of toxic waste discharged into the ocean’. We take up numbered paragraph 8 in Ms Radzik’s letter, on…
The Four-to-One Formula: How Guyana’s 50-50 Oil Deal Turns into a Mathematical Impossibility
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 161 Last year, my summary column discussing the 2023 audited financial reports of Stabroek Block contractors had the caption “Oil companies have earned five times more from oil than Guyana. Modest investment, gargantuan returns.” If anything has changed, the money deluge has continued…