Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 74 – August 23, 2019 Introduction A couple of weeks ago Column 73 examined a statement by Dr. Mark Bynoe about the uplift of oil every eight to ten days and of his plans to independently market Guyana’s share of petroleum which we…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 148 – December 24, 2024 Introduction The two previous parts set out the parallels between the Canadian Churchill Falls case and Guyana’s 2016 PSA. Both deal with agreements governing natural resources and involve the legal principle of sanctity of contract, which is common…
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On February 15, 2023 Stabroek News reported that President Ali seemed to conclude that the renegotiation of the Stabroek Oil contract would lead to a halt in production. On March 6, 2023 Kaieteur News stated that, “Guyana’s top political leaders have likened local advocates championing a better deal for citizens as hypocrites”. There is a…
The Oil and Gas Governance Network (OGGN) condemns yet another attack on female journalists, this time a verbal attack on Tamica Garnett of the Guyana Chronicle on 19 April 2023 from PNC Chief Scrutineer Carol Joseph, after Tamica Garnett requested information from the party on the local government election (LGE).
US Geological Survey – ‘Assessment of undiscovered oil and gas resources in Central and South America’ USGS Fact Sheet FS-037-01, March 2001 Guyana-Suriname Basin – total undiscovered resources with ‘fully risked estimates’ – Gas – trillion cubic feet – 7.035 at 95% confidence level, 36.802 at 50% confidence level, 95.909 at 5% confidence level, arithmetic…
The fact that Government collected a legitimate US$18 million signing bonus from oil giant ExxonMobil but failed to disclose this transaction to the nation has not gone unnoticed by international watchdog Extractive Industries Transparency Initiative (EITI). Guyana became a member of the group just two months ago, with its candidature application submitted in August in…
The work done by the consortium of auditing firms, Ramdihal& Haynes Inc., Eclisar Financial, and Vitality Accounting and Consultancy Inc., with backing from Martindale Consultants, have identified the unauthorized expenditures that have inflated the costs of the EMGL financial statements. In particular, the auditors point out the unlawful disbursement of funds from the Liza 1…
Under Melinda Janki’s letter (SN: 18/08/19), I asked several questions: What royalties are we getting on one million barrels of oil? Is it 250 barrels or 2,000 barrels? Is the royalty assessed on barrels sold? If only 1,000 barrels are sold, does this mean royalty would be assessed and paid on only 1,000 barrels? Mr…
