Investors are reportedly unhappy with Hess’s projection that it won’t generate free cash flow through 2020 due to spending tied to its offshore oil project in Guyana and its U.S. shale fields. See more here
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 117 – December 22, 2023 Introduction The International Monetary Fund and the Inter-American Bank have both expressed concerns about the structure and operations of the Natural Resource Fund, one of the PPP/C’s flagship projects directly associated with the oil and gas economy. This…
I read without surprise, the August 10, 2024 KN clip “MP Vickram Bharrat provided misleading, deceptive information to Parliament on rate of oil production – David Patterson”. We all know that “misleading and deceptive” are parliamentary jargons for “lies”; but, in all fairness, let’s also charitably attribute some of the Honorable Minister’s mouthings to ignorance….
Introduction Last week’s column dealt with a few of the more theoretical aspects of the role that “public expectations” play in general economic growth theory and the modelling of natural resources policy management. Today’s column focuses on the specifics of managing these expectations as a development challenge facing Guyana, as it seeks to spend its…
All parties contesting in the next general elections should declare their views on the oil and gas sector, including if they support the re-negotiating of the controversial contract signed between government and ExxonMobil and its partners in the Stabroek Block, says former presidential advisor Jan Mangal. “I believe oil should be the top agenda item…
Dear Editor, Reference is made to Mr. Joel Bhagwandin’s letter entitled `The sale of carbon credits to offset carbon emissions does not breach the Amerindian Act’ (see Stabroek News, July 4, 2023). The author is colossally missing a key point of the carbon credit trade business and he is falling short of understanding the arguments…
In order to capitalize on oil discovery here, the Government of Guyana must renegotiate the current petroleum agreement with ExxonMobil and its affiliates to reflect an increase from a two percent royalty to 10 per cent. This view was shared by Chartered Accountant, Nigel Hinds, who provided Kaieteur News with a detailed breakdown of opportunity…
The public deserves information on the outcomes of the 2016 Petroleum Sharing Agreement, PSA2016. Article 15.1 purports that Guyana’s tax laws are complied with by the contractor and its affiliated companies. This is in form only. Substance of actual corporation profits tax, under Guyana’s Sovereign Tax laws, are not paid into Guyana’s Consolidated Fund. This…
The history of Guyana and progress of Guyana have been weighed down, bugged down, and riveted down by racism. We must accept our racial differences, without being discriminatory, while continuously trying to burnish and enrich our differences in allowing for integration of citizens into the social, political, economic, civic and cultural attributes of our Guyaneseism,…
