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…
I have to confess to some impatience at having to correct, once again, some of the disinformation being peddled. Instead of taking stock of how this individual embarrasses himself, he continues to show reckless indifference, as if it were a badge of honour. Two months ago, there was a demonstration of the inability to differentiate…
Kaieteur News – The Attorney General (AG), Anil Nandlall S.C last week issued a cautionary statement to Guyanese critical of the oil sector, as he claimed these were being used by the Venezuelan government to bolster its outrageous claims over Guyana’s sovereign territory. His remarks were met with widespread condemnation and continue to be disarmed by…
Recently, the World Bank, using the Gross National Income (GNI) per capita measure, reclassified Guyana as a high-income country. GNI is the sum of all income earned by a country, irrespective of where the income was earned. The justification for this elevation into the highest GNI category is largely based on the impact of foreign…
By Stabroek News October 11, 2022 Dear Editor, Permit me to respond to Joel Bhagwandin’s letter in SN of October 8th, captioned, ‘The overall objective of the PSA is to obtain a higher profit share after fully recouping investment costs’; but before doing so, I would like to recommend that Joel Bhagwandin take some finance…
By Stabroek News August 10, 2022 Dear Editor, Permit me to respond to a letter dated August 6, 2022 written by Joel Bhagwandin, Financial Analyst, captioned,’ Guyana poised to earn close to US$5b annually when the four approved oil platforms are producing concurrently’. In that letter, it is stated that,’ Professor Hunte failed to cite…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 81 – January 3, 2020 Introduction This column should have continued my take on Local Content. I will defer this to a later piece so that I do not miss the very focus on this series: the Road to First Oil. Readers will…
