— highest price to date
With the recent surge in petroleum prices, Guyana has earned US$61m for its fifth lift of a million barrels of oil – its highest price to date – taking its total earnings inclusive of royalties to US$267.6m.
The Ministry of Natural Resources today said that “In keeping the Government’s commitment to accountability and transparency in the Petroleum Sector, the Ministry of Natural Resources is pleased to announce that the payment for Guyana’s fifth oil lift was received into the Natural Resources Fund Account.
“On February 05, 2021, 997,420 barrels of oil were lifted from Liza Destiny with a value of US$ 61,090,968.03 with a grand total to date of 5,009,797 barrels of oil worth US$ 246,542,662. Inclusive of Royalties the total in the Natural Resources Fund Account now stands at US$267,668, 709.12”.
Comments
This trend is likely to continue for the next 1-2 years as oil prices are predicted to remain high. That’s good for Guyana! Having the oil revenues feed into the NRF is also wise. This will allow for a rapid buildup of the sovereign wealth fund and enable the spending of the interest gained from investing the funds wisely. The Ali administration’s task is to implement efficient and accountable management of the assets in the NRF. The Guyanese public needs to be vigilant!
Vigilant for what reason, to watch Jagdeo and his cabal steal whatever they can in plain sight while professing to the gullible Guyanese public that they are honest, god faring people who are only doing what is good for Guyana? We have seen this episode before; president Ali, in the meantime, will be led to believe that he is really the one in charge? Good luck Guyana.
Alison Redford, a corrupt Canadian politician has been in the proverbial bed with the PPP. The PPP kleptocrats might be smart this time: They might launder the oil monies into Vancouver and Toronto real estate to avoid detection.
Charandass was protected by Canada. The Canadian government is corrupt in a clandestine way. America wouldn’t tolerate money laundering in real estate.
Guyana is a country (one of the few) where family or friends can own. massive expensive real estate, large International hotel, a modern bridge over large water, with NO money. Maybe you are expecting too much?? Reality is, compared to the United States, bunch of amateurs.
Fingers crossed.
Expect more Ferraris, twelve to twenty storey buildings and corruption.
The PPP is not as democratic like most ABCEU countries.
Many Guyanese such as Freddie Kissoon have been bought and paid for, and I don’t trust the Canaidan government which has been encouraging money laundering in their real estate.
Biden has no spine to do anything and many EU countries want to recolonise in any way.