King Midas, it was said, had only to touch something for it to turn to gold. The Minister in charge of Guyana’s oil has perfected this talent in reverse: – The Minister’s 2016 re-negotiation of the PSA with ExxonMobil is a disgrace. It has put his government in a serious predicament and could prove a…
Today’s column will simulate two scenarios of expected money inflows into and outflows from the Natural Resource Fund. All simulations are based on the NRF Act of 2021. The Act allows for higher early withdrawals from the Fund. Several justifications for high initial withdrawals were outlined by government officials. First, the dire shortage of the…
In a series of letters published in the Sunday editions of Stabroek News (February 16 & 23, March 2 & 9, 2025), the Oil and Gas Governance Network Guyana (OGGN) informed the Guyanese public about questionable tax practices of ExxonMobil and its partners—Hess Corporation and China National Offshore Oil Corporation (CNOOC)—and raised concerns about the…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 141 – October 19, 2024 Introduction The results of a recent survey on the 2016 Petroleum Agreement with ExxonMobil and partners reveal overwhelming public support for renegotiation, with serious concerns about key provisions of the Agreement. The survey, conducted by Ram & McRae…
The question I respond to in today’s column is: Does the prevailing world energy outlook offer useful policy lessons for Guyana’s benefit, in anticipation of its oil and gas production coming on stream in the early 2020s? The demand/supply appraisal of that market, which was presented in my two previous columns suggests that there may…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 130 – June 14, 2024 Exxon’s incredible (and unique) return on Equity Introduction This week’s column features the financial statements of the Guyana branch of ExxonMobil Guyana Limited, a 45% stakeholder, and the designated Operator, in the Stabroek Block. In what was a…
There seems to be no end to the deviousness of Bharrat Jagdeo, a man who disgracefully delights in living in his world riddled with sleaze, sinking so low as to be engaging in maliciously defiling the credentials of those who are much intellectually grander than him, and who take him to task for his gross…
A recent article in the Stabroek News ‘No plans to revisit Exxon deal’ (Jan 26) suggests that the Inter-American Development Bank (IDB) was involved in the drafting of the Petroleum Commission Bill: “…the Inter-American Development Bank (IDB), International Monetary Fund and the Commonwealth had helped with the drafting of the proposed legislation and stakeholders consulted…
