Analysts attempted to reconcile the 2020-2022 Guyana Natural Resource Fund royalties’ balance. To their dismay, there is a significant shortage of royalty payments in the years 2020 and 2022, 23% and 13% respectively. The Natural Resource Fund appears to be missing an approximate GY$5.6B (US$27M) in royalties, payments that Exxon and its affiliates should have…
Equity ownership in a business implies that an investor becomes a shareholder; and therefore, has access to complete information; has decision-making authority that is based on the relative size of the funds invested; and receives a share of the total profits, calculated on the shareholder’s ownership of the total invested funds. In the case of…
A distinguishing feature of the Production Sharing Agreement (PSA) between ExxonMobil Guyana Limited (EMGL) and the Government of Guyana (GOG) is the contrived way in which total cost is specified in the business. In particular, the total cost (TC) is specified as: TC = 0.75TR = 0.75PQ, where TR is total revenue, P is the…
Thanks to Dhanraj for taking the time and effort to indulge in this debate. More Guyanese should get involved. (Ref – Dhanraj Deonarine’s letter, “Is the NRF really overstated?”, SN Jan. 13th). Here is the larger question on the subject: How can Oil Companies prepare their tax returns, submit them to GoG – and say…
Reference is made to Joel Bhagwandin’s letter in Stabroek News (July 10, 2023) entitled `Bulkan’s position, supported by Brandli, that the sale of carbon credit is fraudulent is preposterous’. The letter requires a swift response given that several falsehoods are expressed by the author. Claim 1: “The infamous Oil and Gas Governance Network (OGGN) is…
Dear Editor I support the statements of the Upper Mazaruni District Council (UMDC) which you reported on 28 June (‘Upper Mazaruni council restates that carbon trading consultations defective’). Any Amerindian Village Council can agree to dispose of natural resources of the titled Amerindian Village Lands only through compliance with sections 13, 14, 34 and 44…
Amid calls from the Opposition and other stakeholders for an extension in the time for scrutiny of the new model Production Sharing Agreement released by government recently, Chartered Accountant, Christopher Ram said there should be a public forum for broad and general consultations. Writing in his weekly Oil and Gas column in the Stabroek News…
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…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 94 Article was Published on July 16, 2021 Introduction Over the past few weeks ExxonMobil has been holding public consultations on an application to the Environmental Protection Agency (EPA) for an Environmental Authorisation for what it describes as a Gas to Energy Project…
