Category Archives: foreign investment

GUYANA OIL: Imports required for petroleum operations in Guyana are duty-free – GRA

Several imported equipment and supplies required for petroleum operations in Guyana are duty-free – GRA

OilNOW- 24 October 2020

The Guyana Revenue Authority said on Friday (October 23, 2020) that based on the Petroleum Agreement between the Government and ExxonMobil affiliate Esso Exploration and Production Guyana Limited, contractors and sub-contractors are permitted to import a number of equipment and supplies duty-free for use in petroleum operations, as stated in Annex D of the petroleum agreement.

READ MORE: https://oilnow.gy/featured/some-imported-equipment-and-supplies-required-for-petroleum-operations-in-guyana-are-duty-free-gra/

GUYANA; OIL BLOCKS: Legalizing stolen state assets – Commentary

Cunning politicians use crooked middlemen to hold, receive or transfer stolen state assets. For example, politicians would have some of their shady friends establish shell companies, information about which the public cannot access. These companies would then be handed oil blocks or given other state assets.

In the past, bribes were paid into politicians’ secret bank accounts or that of their relatives. With stricter anti-money laundering and transparency laws, these bribes are now easily detectable. Corrupt politicians therefore have devised more elaborate schemes to legalize the proceeds of corrupt dealings.  Continue reading

OPINION: The Hidden History of Canada’s Influence and Interference in Guyana

Canadian corporations have played a role in neoliberal economic restructuring in the small South American country

Yves Engler / Canadian Dimension

Reflecting an extreme imbalance in power, people in Guyana are well informed about Canadian activity in their country, but our media seldom mentions the small nation on South America’s North Atlantic coast. 

As such, it was a positive sign to see the CBC and the Calgary Herald report on former Alberta Premier Alison Redford’s recent appointment to lead a review of the oil sector in the former British colony, which sits between Venezuela and Suriname on the northeastern tip of South America.

The industry friendly Redford will head a team of Canadian consultants to review Exxon Mobil’s massive planned project at the proposed Payara oil well that has been criticized for low royalty rates.  Continue reading

GUYANA: OIL: Who are the real owners of the Canje and Kaieteur Oil Blocks?

The nation must know:

Click to Enlarge map

We welcome United States Secretary of State, Michael Pompeo, to Guyana. We thank him for his role in ensuring that the democratic will of the people was respected in relation to the elections of 2nd March, 2020.

America stands for democracy and America stood by Guyana during the attempt to steal the elections and revert Guyana to a state of political dictatorship. For this, we are grateful!

America also stands for transparency and accountability in government. American companies should not be doing business in a country where deals are being kept secret. American companies should not be involved in investing in oil blocks, the owners of which are concealed from the public.

Continue reading

OPINION: Canadian company walks away with US$238M; now we begging for US$100M loan to build a bridge

Demerara Harbour Bridge – built 1970

Foreign investors, wherever they go, do so for two main reasons: to enrich the host country so that the people can benefit; and to enrich themselves. However, in Guyana, foreign investors behave like scavengers, raping our wealth and leaving us dry, pale and penniless and with wounds which would never heal.

Guyana Goldfields is a prime example. A group of Canadians came here and set up shop. Our government handed them huge swathes of prime mining lands and they enjoyed duty and tax-free concessions galore to the tune of billions. in Guyana dollars.  Continue reading