It was reported that Former President, Mr. Jagdeo, stated that the reports on royalty payments by Attorney at Law and Chartered Accountant, Mr. Christopher Ram, and Dr. C. Kenrick Hunte, Professor and Former Ambassador, were wrong and that the Government has collected the correct amount of royalty from ExxonMobil Guyana Limited (EMGL). In response to…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 123 – March 9, 2024 A royal storm A letter by Professor Kenrick Hunte appearing in the press earlier this week generated a wave of conversation across the society. Essentially, the Professor claimed that Guyana has been receiving Royalty of about a quarter…
A Table of a Chart and a Graph Introduction Today I will deliberately use the Chinese aphorism that “a picture is worth a thousand words” with great effect. So, with two pictures, we start with two thousand words which takes me over my word limit. Some weeks ago, the Government announced that two historic cricket…
Erin Northe has written a nice letter to commemorate Cheddi Jagan’s death anniversary in SN Letters (March 2nd), titled: “Take time out to reflect on where we are in Dr. Jagan’s vision”. This letter provoked a comment on the online edition from Fuad Rahaman. It reads: Focus on PPP leader, Dr. Bharrat Jagdeo’s vision! It’s…
It has been reported that Guyana receives 52 percent of oil profits from ExxonMobil Guyana Limited (EMGL) oil extraction operations. Given that Guyana is not a shareholder in EMGL, this is overly generous of a company that is expected to minimize cost and maximize profits for its shareholders. In fact, nowhere in the Production Sharing…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 122 – March 1, 2024 Introduction The Ali Administration has been promising continually that an independent, competent Petroleum Commission will be appointed to oversee the operations of the oil and gas sector. But like it has done in relation to the confirmation of…
Analysts attempted to reconcile the 2020-2022 Guyana Natural Resource Fund royalties’ balance. To their dismay, there is a significant shortage of royalty payments in the years 2020 and 2022, 23% and 13% respectively. The Natural Resource Fund appears to be missing an approximate GY$5.6B (US$27M) in royalties, payments that Exxon and its affiliates should have…
Imagine if you didn’t know the amount of money in your family’s primary bank account for the past two years. Would you borrow money at exorbitant interest rates when you didn’t need to? Would you skip on meals for your family because you thought you didn’t have enough money? It is coming up on two…
