The claim by the National Toshaos Council (NTC ) that it is the ‘sole, legal and legitimate’ body that represents the interests of Amerindians in Guyana (Department of Public Affairs, ‘NTC affirms its position as legitimate representative body of Amerindians’, 24 November 2023) has no legal basis. This claim is an unreasonable/erroneous extrapolation of the…
President Irfaan Ali ring-fencing is an important concern that has engaged the attention of the Guyanese people; but Guyanese policymakers do not want to take any action to establish ring-fencing in each of the oil projects that are currently extracting and exporting oil from Guyana. When there is no ring-fencing, the people of Guyana are…
According to a Bank of Guyana Report, the share of Total Revenue that Guyana received for profit oil and royalty between January 2020 and June 2023 is US$2.68 billion. And from this amount, it can be derived that total Revenue (TR) is US$18.47 billion, the total cost recovery is US$13.85 billion, and the share of…
It has been eight years since large oil reserves were discovered off the shores of Guyana, but the nation has only reaped a measly 14.5% of total oil revenues since oil production or more accurately oil extraction started in 2019. The remaining 85.5% have been captured by foreign oil companies. In fact, the Stabroek Block…
Reference is made to SN’s blogger, Justin, (SN August 10 blog on Andre Brandli’s letter). He explained Guyana’s share of oil revenues as follows: “Your mango tree has 100 mangoes which sell for $10,000 on the market. I pay 2% royalty. But I have the right to 75% cost recovery+ 50% profit sharing, and you…
A priest once said with reference to a local bigwig in Guyana, an impoverished country perched on the northern shoulder of South America: “first you get on, then you get honest.” That is, you need to acquire wealth before you can be philanthropic. Little of that culture of philanthropy appears to have survived among the…
