Daily Archives: June 10, 2019

Guyanese Online Entries at June 10, 2019 – full listing

            Guyanese Online Entries at June 10, 2019

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  • News and Feature Items: June 05-10, 2019

— GUYANA GOVERNMENT/ POLITICS/ COMMENTARIES

Robert Persaud fails to explain why industry unknowns were granted oil blocks

Guyana likely forfeited US$100 million to a Billion in signing bonuses – Dr. Mangal

Price fixing racket at GuySuCo… Internal audit report recommended Bhim sacked

USA: Brooklyn Borough Prez thanks Guyanese for their contribution to NYC

Environment: Stop Polluting our Rivers! – By Dr. Dhanpaul Narine

— GUYANA NEWS/ COMMENTARIES            Continue reading

Godfrey Chin Prize: Heritage Journalism: Nominate Someone by June 30, 2019

Environment: Stop Polluting our Rivers! – By Dr. Dhanpaul Narine

Dr. Dhanpaul Narine

 – By Dr. Dhanpaul Narine

The rivers of the world are dying. Each day tons of waste is dumped in rivers. As the waterways groan and belch under the weight of garbage and chemicals official action takes the form of lip service. Communities suffer and the planet gets closer to the day when the wheels will grind to a halt.

In June 2015, the waters of La Pasion River in Guatemala were covered with dead and poisoned fi sh. It was found that the river was contaminated by malathion, an agricultural insecticide that is said to be 100 times more poisonous than sewage. The community that is affected is Sayaxche where oil plantations occupy large tracts of land.

READ MORE: Stop polluting our rivers

Robert Persaud fails to explain why industry unknowns were granted oil blocks

Robert Persaud

When it comes to the suspicious award of two key oil blocks offshore Guyana to three industry unknowns, transparency advocates have thrown the burden of blame onto the shoulders of former President Donald Ramotar.

But the former Head of State is now saying that he acted on the advice and appeals of former Natural Resources Minister, Robert Persaud. Ramotar says it is he who must answer all the burning questions on the issue.
Yesterday afternoon, Persaud took to his Facebook Page and provided a statement on the matter. But his explanation had no answer for one of the many crucial questions on the minds of local critics—why were Mid-Atlantic Oil and Gas Inc, Ratio Energy and Ratio Guyana, companies which never existed before March 2013, granted rights to explore two blocks, the Kaieteur and Canje , which are located in very deep waters?      Continue reading

Guyana likely forfeited US$100 million to a Billion in signing bonuses – Dr. Mangal

….  Signing bonuses for the Kaieteur, Canje blocks–Dr. Jan Mangal

Dr. Jan Mangal

A government can obtain revenue from its country’s oil sector using several elements. One of these is a signature bonus. As the name implies, operators provide the State with a one-time payment for the privilege of being granted a licence to explore its territory for oil.

Many countries across the world employ this mechanism. In Brazil, the government was able to get US$2.4B from companies that wanted to explore its waters for oil. The same goes for CARICOM member, Trinidad and Tobago, which was able to get a US$100M signing bonus from interested operators.

But when former President, Donald Ramotar, signed away Guyana’s Canje and Kaieteur Blocks to three inexperienced oil companies days before the 2015 General and Regional Elections, no signing bonus was secured.    Continue reading

DEMERARA GOLD: Ingrid Griffith goes to Washington, DC – June 29- 30, 2019

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