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…
The U.S. Foreign Tax Credit (FTC) is designed to prevent double taxation by allowing individuals and corporations to offset taxes paid to foreign governments against their U.S. tax obligations. However, there is compelling evidence that ExxonMobil and its affiliates obtain tax certificates issued by the Guyana Revenue Authority (GRA) without actually paying taxes in Guyana….
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 73 – August 9, 2019 Introduction It has been a week of headlines in the petroleum sector. First out was Dr. Mark Bynoe who told the Stabroek News about Government’s plans to market its share of crude oil. This was followed by a…
…Petroleum adviser says oil-and-gas policies must transcend election cycles THERE is need for Guyana to enforce legislation, policies and regulations in the emerging oil-and-gas sector that cannot be easily influenced by politicians, presidential adviser on Petroleum Dr Jan Mangal told reporters on Wednesday. Dr Mangal, who has a Doctorate in Offshore Geotechnical Engineering from the…
Introduction Today’s column concludes the discussion on fiscal break-even prices for crude oil, introduced three weeks ago on November 13. To recall, that topic was introduced under the rubric of a broader one: on the cost-price relation, which might emerge in Guyana’s coming time of oil and gas production and export (possibly around 2025). Readers…
The former head of the Environmental Protection Agency (EPA), Dr. Vincent Adams believes that the government has assumed leadership of the regulator body, as the agency no longer has its own authority but rather operates on instructions. Former EPA Boss, Dr. Vincent Adams In fact, Dr. Adams argued that the administration is presently more interested…
A priest once said with reference to a local bigwig in Guyana, an impoverished country perched on the northern shoulder of South America: “first you get on, then you get honest.” That is, you need to acquire wealth before you can be philanthropic. Little of that culture of philanthropy appears to have survived among the…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 101 – September 16, 2022 More than three years ago, and even before the first barrel of oil was produced, the 2016 Petroleum Agreement signed by Esso Exploration and Production Guyana limited (Esso) and Hess and CNOOC, its Joint Venture partners, concluded its…
As the Energy Conference opened up yesterday, Guyana failed to send a public message to Exxon’s boss who is in attendance. With the worst oil contract in the history of the world that gives Guyana 14.5% of all gross revenues while Exxon gets 85.5% to cover expenses and profits, the Guyana leaders were silent, although…
I am flabbergasted how casually most Guyanese are lured into the belief that oil is the elixir to all their troubles, and that magically Guyana is going to be transformed into a culture of abundance.Except for a few scholars and jaded oil industry professionals, there seems to me a condition of national willful ignorance and…
