Opinion

Cost Recovery limit The report said that  PSAs here limit the value of production (after royalty) that can be used to recover costs. The mission says it understands that the cost recovery limit in the Stabroek PSA is fixed at 75 percent. “When there is a cost recovery limit and the minimum government share is…

Production sharing agreements or contracts (PSAs), have been, from the time of their earliest introduction to the oil and gas sector, subjected to in-depth critical analyses and/or evaluations from economic, legal, and institutional perspectives. Among the most rigorous and perceptive of these evaluations, in my view, are: 1) K. Bindemann, Production-Sharing Agreements: An Economic Analysis,…

Keeping information from the public only results in distrust and contracts for all of the country’s natural resources should be published,  says Government’s Petroleum Advisor Jan Mangal. “The signing bonus and all revenues should be disclosed.  There are no pros for non-disclosure, only cons,” Mangal told Stabroek News in response to questions posed on the…

The onus was on Minister of Natural Resources Raphael Trotman to tell President David Granger that he would be breaking the law if the US$18M bonus went anywhere else but to the Consolidated Fund, commentator and civil society activist Melinda Janki says. For his role in allowing the illegal act of placing the money into…

Dear Editor, The Justice Institute Guyana strongly endorses the views expressed in Monday’s editorial ‘ExxonMobil signing bonus’ and joins Transparency International Guyana, Chris Ram, Anand Goolsarran and members of the public in condemning the secret payment of US$18M from ExxonMobil to the government. See more here  

Former Auditor General Anand Goolsarran says that the controversial signing bonus that the government took should be returned to ExxonMobil as it cannot be considered as legitimate. See more here  

There is a mystery unfolding in the U.S. Department of the Interior. Officials there seem to have removed the United States from a singularly successful anti-corruption effort. This has happened largely in secret, aside from a few public statements in legalese that are nearly impossible to parse. At times, bureaucrats in the department have behaved in…

Dear Editor, While visiting the UK, I read that the US had pulled out of the Extractive Industries Transparency Initiative (EITI) which Guyana is now a candidate member of. There are some 51 members. The US presence in the body served as a model against corruption and acted as a pressure for other countries to…