Category Archives: Oil Exploration

Guyanese Online Entries at June 10, 2019 – full listing

            Guyanese Online Entries at June 10, 2019

  • Click links to view – NEW items are in BOLD
  • 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

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

Guyana: Oil Blocks awarded to four companies with no financial wherewithal

PPP Government: Canje, Kaieteur Blocks awarded to four companies with no financial wherewithal for exploration

Click to enlarge

– Audited Finance statements and records of beneficial owners not submitted for EITI Report

When a government wants oil companies to explore the potential of a country’s resources, they court firms that have a track record of finding oil and gas.   But that has not been the case here.

Days before the 2015 General and Regional Elections, former President, Donald Ramotar acted in a manner that was contrary to this international best practice.

Ramotar signed away the Canje and Kaieteur Blocks, which total over 4.8 million acres, to four companies which have no track record of exploring for oil prior to 2015.        Continue reading

Ghana’s President to visit Guyana June 11-12, 2019

By Rabindra Rooplall – 

Photo: President of Ghana, His Excellency Nana Addo Dankwa Akufo-Addo

Guyana will host a State Visit of a Ghanian delegation headed by His Excellency President Nana Addo Dankwa Akufo-Addo on 11th -12th June 2019.

This was announced Wednesday by President David Granger during his speech at the accreditation of Ghana’s non-resident High Commissioner, Professor Abena Pokua  Adompim Busia.

Continue reading

Ramotar fails to explain giveaway of oil blocks to unknown companies

Kaieteur News – 01 June 2019- By Kiana Wilburg

In a three-page statement to the media yesterday, Former President Donald Ramotar took time to pronounce on the application and approval process that was followed when he signed away two key oil blocks just days before the 2015 General and Regional Elections.

Former President Donald Ramotar

But the multibillion-dollar question Ramotar avoided answering was why he signed away oil blocks in very deep waters to firms which do not have experience in deepwater exploration. The Canje Block was awarded to Mid-Atlantic while the Kaieteur Block was awarded to Ratio Energy. Continue reading

High-level Ghanaian delegation in Guyana to explore investments

Ghanaian delegation headed by Deputy Energy Minister Mohammed Amin Adam
By Ray Chickrie -Caribbean News Now contributor

GEORGETOWN, Guyana – The government of Guyana is forging stronger commercial ties with the African continent. Progress is being made through a large Ghanaian delegation headed by deputy energy minister Mohammed Amin Adam and a 15-member delegation currently in Georgetown exploring investment opportunities.    Continue reading

UG- University of Guyana: “Energy for Guyana” Panel Discussion – May 30, 2019

What Can Be Made from One Barrel of Oil? – Infographic

VIEW: What can we make from a barrel of OIL

THE OIL MONEY – By Verian Mentis-Barker – XpressBLOGG

THE OIL MONEY – By Verian Mentis-Barker – April 30, 2019

The incumbent administration radiates questionable seriousness about things they speak of with notable solemnity.

Though Hughes – who has now earned as much of a reputation for tendering a resignation as he has for defending a certain criminal element – can, according to some, be precisely measured with a short moral/integrity yardstick. The Kaieteur News interview with him a few weeks ago lined up with what many of us are thinking about the nation’s oil bonanza and the channeling of potential revenues.

For several months, the Government held Citizens Right To Know hostage by refusing to offer shareable details of a Production Agreement and all related contracts to both known and potentially existent oil wells.

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