Opinion
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…
HESS Statement of Changes in Equity from 2018 to 2024
Hess Guyana – Statement of Changes in Equity Hess Guyana Exploration Limited — Guyana Branch Statement of Changes in Equity from 2018 to 2024 Stacked area chart showing Capital Contributions and Accumulated Profit/(Deficit) evolution (2018-2024) HESS Capital Accumulation 2018 to 2024 Accumulated Profit/(Deficit) Key Observations & Strategic Insights 2018-2020: Initial deficit period with accumulated losses…
EMGL Statement of Changes in Equity from 2018 to 2024
Statement of Changes in Equity – Stacked Area Chart EMGL Statement of Changes in Equity from 2018 to 2024 Stacked area chart showing Capital Contribution and Accumulated Profits (2018-2024) EMGL Cumulative Capital Contribution: : 2018 to 2024 EMGL Accumulated Profits: 2018 to 2024 Key Observations: 2018-2020: Accumulated profits were negative (accumulated losses) 2021: Turning point…
CNOOC Guyana – Profit Analysis 2019 to 2024
CNOOC Petroleum Guyana – Profit/Deficit Analysis 2019-2024 CNOOC Petroleum Guyana Limited (GYD) Profit/Deficit Financial Analysis (2019-2024) Annual Profit/Deficit Trend (Billions GYD) Cumulative Performance Overview 📈 Key Performance Highlights Dramatic turnaround: From -20.9B deficit (2019) to 1.07T profit (2024) Break-even achieved: In 2021 with 49.5B GYD profit Exponential growth: 2,070% increase from 2021-2024 Consistent profitability: 4…
CNOOC changes in Deficit & Profit from 2018 to 2023
Statement of Changes – Stacked Area Chart CNOOC changes in Deficit & Profit from 2018 to 2023 ($US using 208.5 conversion) Full Period Turnaround Era Growth Phase Deficit Periods Profit Accumulation Annual Net Income
EMGL Income Tax Payable Chart 2019-2024
Income Tax Payable by Year Income Tax Payable by Year Esso Exploration and Production Guyana Limited (Guyana Branch) Year Income Tax Payable (USD) – As reported on EMGL Balance Sheet 2019 0.00 2020 0.00 2021 0.00 2022 284,802,553.00 2023 947,548,593.48 2024 2,195,600,000.00 Data extracted from balance sheet statements as of 31 December for each respective…
EMGL Income Tax Expense Chart 2019-2024
Income Tax Expense Chart 2019-2024 Income Tax Expense by Year ExxonMobil Guyana Limited (Guyana Branch) – 2019 to 2024 Key Observations: No income tax expense recorded for 2019-2021 Significant tax liability began in 2022 ($284.8M) Tax expense more than doubled in 2023 ($662.9M) Highest tax expense in 2024 ($1.248B), nearly doubling again * All amounts…
Tara Singh’s claim on the halving of poverty in Guyana is not supported by the economic data available to the public
The Oil and Gas Governance Network (OGGN) is following up on its letter on the apparently bogus claims about the creation of 50,000-60,000 new jobs with a query about Tara Singh’s claim on the halving of poverty in Guyana (https://www.stabroeknews.com/2025/06/08/opinion/letters/we-cannot-account-for-ppp-c-claims-of-employment-increases-of-50000-or-60000-new-jobs-over-2020-2024-period/) . Tara Singh made the claim about poverty reduction in his letter published by Stabroek…
CNOOC Joins the Profit Binge in Guyana – Guyanese look on
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 160 – 10 June 2025 IntroductionToday’s column addresses the audited financial statements of CNOOC Petroleum Guyana Limited, the third-ranking partner with a 25% interest in the Stabroek Block operating under the 2016 Petroleum Agreement. Like Exxon and Hess, CNOOC is also a branch…