The pace of discovery in the Stabroek Block has been astounding. There have been 32 major discoveries to date. There are currently 3 projects in production: Liza Phase 1, Liza Phase 2 and Payara. The current daily output is 620,000 barrels of oil. There are 2 additional projects approved for production: Yellowtail and Uaru. Plus,…
I refer to the letter in Stabroek News yesterday in which the Insurance Association of Guyana has spoken up. It is nice to see that my old association is taking a public stand in representation of the insurance industry and its capabilities, and in the process, correcting the false notion that Guyana is unprepared for…
Freddie Kissoon in his Kaieteur News column dated September 5, 2019 stated: “I am bamboozled by the insane frequency of the condemnations of Exxon, but no condemnation of the hate Sanjeev said is currently threatening Guyana.”Another columnist wrote in similar vein of Guyanese condemning Exxon “… your Eyewitness is getting a tad tired with the…
It may seem to Guyanese that oil issues are coming to a head, that is, to some conclusion. They are not. We have to be prepared for a long and tough slog on our journey to get a fair deal for the working people of Guyana, and to finally start transforming the governance apparatus of…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 131 Today’s column features the financial statements of the Chinese-owned CNOOC which holds a 25% working interest in the Stabroek Block, as a “non-operating joint venture partner”. CNOOC, like its other two partners, is a branch of a company incorporated outside of Guyana…
Originally Published At: https://www.chrisram.net/?p=2421
The oil sector is known for its ability to compromise some of the most “upstanding” politicians on earth. Instances of this irrefutable fact can be found in many countries such as Chad, Equatorial Guinea, Tanzania and Indonesia. As Guyana moves ahead with becoming an oil producing nation, many critics have expressed concern that Guyana’s politicians…
Our angelic lawyers and appellate judges are debating in medieval terms whether ‘assurance’ or ‘insurance’ or ‘full liability coverage’ or ‘complete indemnity’ can all sit on the head of a pin. Meanwhile, let us consider why we need such security instruments. Since the PEMEX oil spill at the Ixtoc-I well in the Gulf of Campeche…
There are many tricks the salesman has studied to close a lucrative deal. These range from projecting a sense of authority; playing the reciprocation game; and creating a sense of urgency. In the negotiations with the oil companies, we have fallen prey to these social psychology tricks. We need to recognise these tricks to avoid…
