It has been reported that Guyana receives 52 percent of oil profits from ExxonMobil Guyana Limited (EMGL) oil extraction operations. Given that Guyana is not a shareholder in EMGL, this is overly generous of a company that is expected to minimize cost and maximize profits for its shareholders. In fact, nowhere in the Production Sharing…
The Oil & Gas Governance Network (OGGN) Guyana notes that Stabroek News on January 13, 2024 carried a letter by Mr Dhanraj Deonarine with the title “Is the NRF really overstated?” The letter suggests that the claim by Mr. Ram that the Natural Resource Fund (NRF), Guyana’s Sovereign Wealth Fund, is overstated “is not such…
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…
Mr. Anil Nandlall S.C. Attorney General and principal legal adviser to the Government has written rather disparagingly about comments I made in my last Friday‘s Stabroek News oil and gas column. Without naming me or addressing any of the extensive data, sources and arguments I used in arriving at my findings, he claims that my…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 119 – January 09, 2024 Introduction On the occasion of the first column for 2024, I extend best wishes to readers for an informed and productive year and realisation of the hope of a fairer contract. Readers will recall the promise made in…
Originally Published At: https://www.chrisram.net/?p=2421
A few years ago, oil companies would bombard the Guyanese people with “frontier country” to justify an embarrassing Stabroek Block contract that is currently paying us a paltry 14.5% or less of total oil revenues. The oil companies seem to have retreated from marketing us the “frontier country” tune after pushback from those in the…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 118 – December 29, 2023 Among the several challenges facing the Natural Resource Fund (NRF) – also known internationally as a Sovereign Wealth Fund – identified in column 117 published on 22 December, was one which I described simply as “accounting”. Readers will…
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…
By Tarron Khemraj On September 10, 2023 On August 19, the Stabroek News reported that the government is willing to make necessary interventions in the foreign exchange (FX) market in order to enable the smooth access to hard currencies. In the same news report, Vice President Jagdeo noted that there is ample foreign exchange if one considers the…
