Daily Archives: 07/17/2022

GUYANA: World Bank slams Guyana over lax oversight of Exxon’s operation

Jul 17, 2022 – Kaieteur News – A recent report by the World Bank has criticised the Guyana Government’s offshore oil production arrangement with Esso Exploration and Production Guyana Limited (EEPGL)—ExxonMobil Guyana—based on safety, environmental concerns and inadequate payment and has since downgraded its rating of the country’s oversight of the project.

The report dated March 2022, documents the World Bank issuing an interim report that found the country’s rating had slipped from “Moderately Satisfactory” to “Moderately Unsatisfactory.”

According to the World Bank, while grant activities have been designed to help Guyana boost staff, experts, training and analysis at the Ministry of Natural Resources and Ministry of Finance, this came to a halt at the end of 2021. This is despite the fact that grants made to the country were expected to support work through 2024. Meanwhile, flaring pollution and other risks continue.    Continue reading

OPINION: Bribery and corruption – By Neville J. Bissember

By Neville J. Bissember

In February 1999, as the second round of negotiations on a successor Agreement to the Lome Convention advanced – the name Cotonou had not as yet been determined – the African, Caribbean and Pacific (ACP) Group and the European Union (EU) travelled to Senegal to hold those discussions, honoring the tradition of an ACP Member State playing host to a session.  Besides the EU’s intention to “balkanise” the grouping into six regional trade blocks and to dispense European Development Fund assistance differently, a priority area for them in the political dimension of the cooperation arrangement was on introducing good governance, which included addressing bribery and corruption, as an essential element.    Continue reading

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