In the Thursday September 12, 2019 edition of Stabroek News (SN), our claim that the award of the petroleum exploration licences was subject to the Public Procurement Act was rejected by the Public Procurement Commission and by Dr. Anand Goolsarran, a former auditor general and past president of TIGI. Our column to which these individuals…
I have not noticed any comments in the local Press on MARAD Notice to Mariners number 113 (2022) dated June 28, 2022. This Notice defines a sea area of 119 square kilometres offshore from Plantation Best where the biggest of the oil field shore bases is being constructed, which will be deep-dredged up to the end…
The Oil and Gas Governance Network Guyana (OGGN) has previously raised critical concerns regarding the tax practices associated with the oil extraction operations of ExxonMobil and its partners – Hess Corporation and China National Offshore Oil Company (CNOOC) – in Guyana, as specified in the 2016 Petroleum Agreement, better known as the 2016 Production Sharing…
The Laws of Guyana Corporation Tax Act imposes a 40% corporation tax on chargeable profits for commercial companies and 25% for non-commercial companies. The law defines commercial activity as “an activity carried out by a company trading in goods not manufactured by it” and non-commercial activity would be anything not covered in this definition. One…
Low oil and gas prices have spurred an exodus on foreign oil companies from Canada’s energy sector over the last year. On Thursday South Africa’s Sasol Ltd became the latest international energy firm to say it plans to divest Canadian assets. The departures have raised doubts over future development prospects of the world’s third largest…
In media reports on February 23rd, 2023, President Ali claims that Guyana received an extension for EITI report that is due for the fiscal year 2020. However, on the EITI website, https://eiti.org/countries/guyana, Guyana’s status is listed as “Suspended for missing deadline”, if as President Ali claims, an extension has now be given, why is Guyana’s current…
Regardless of which political party is in power, the obnoxious and detestable 2% contract between the Government of Guyana and Exxon’s subsidiary and their partners is deemed to be unnegotiable by the government. Irrational and sad! As it is clear to anyone who is intent on negotiating a fair agreement for Guyana, basic common sense…
Former Petroleum Advisor to the President , Dr. Jan Mangal has said that Guyana would still get a substantial revenue share from oil even when the price is sent crashing, once royalty on every barrel is set at a fair level of 15 percent. He made these and other comments in a recent Facebook post.Initially,…
