Tag Archives: Dr Jan Mangal

GUYANA: OIL: “Wishful thinking” that Payara could be leveraged to renegotiate Stabroek deal – Jagdeo

VP Dr. Bharrat Jagdeo

Vice President, Dr. Bharrat Jagdeo yesterday said that it is wishful thinking to assume that the Payara development permit could have been leveraged to demand a better Production Sharing Agreement (PSA) from ExxonMobil.

The politician delivered his latest rebuke of calls to get a better deal during a press conference at the Arthur Chung Conference Centre. The 2016 deal signed for Exxon’s operations in the Stabroek Block by former Minister of Natural Resources, Raphael Trotman has been widely condemned for a string of poor provisions, including a paltry two percent royalty share. The People’s Progressive Party Civic (PPP/C), which took office in August, has criticised, but refuses to renegotiate, the deal.      Continue reading

GUYANA: OIL: PPP/C Govt. doing its utmost to keep Guyana a “banana republic” – Dr. Jan Mangal

…Approval for Payara – ‘A country which has no self-respect and accepts crumbs for its Crown Jewels’ – Dr. Jan Mangal

Dr. Jan Mangal

During an exclusive interview, Dr. Mangal articulated, “I have already said so much on this topic, am just thoroughly disappointed to see Guyanese politicians continue to sell out the nation, and perpetuate our 50 plus years as a failed state, when instead we always should have been the beacon for the Caribbean.”    Continue reading

Is Guyana Getting a Fair Deal for its Oil? – By Dr. Dhanpaul Narine

– By Dr. Dhanpaul Narine

I recently moderated a panel discussion on oil and gas in Guyana. The panel was made up of professionals that are household names in their own right.

Dr Tarron Khemraj is a professor of Economics in Florida. He writes a column in the ‘Stabroek News’ on economics and business and his interests include oil and gas.

Dr. Jan Mangal is a graduate in off -shore technology and has a PhD from Oxford. He was an advisor to President David Granger.

Christopher Ram is an attorney that is based in Guyana. He has a television show, and is involved in civic matters in Guyana. He holds a Master’s Degree in Oil and Gas.

READ MORE: – Is Guyana getting Fair Deal for its Oil – By Dr Dhanpaul 

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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

MORAY HOUSE TRUST- February 2018: Focus on the Petroleum Industry

Moray House Trust

UPDATE FROM MORAY HOUSE TRUST: FEBRUARY 2018

With weak institutions and a shortage of human capital, Guyana faces as many challenges as opportunities as it attempts to capitalise on recent oil discoveries offshore. “Guyana has almost zero capacity now for dealing with oil and gas,” Dr Jan Mangal, petroleum adviser to President David Granger said recently at the University of Guyana.

[see: https://www.bloomberg.com/view/articles/2018-02-16/guyana-s-big-oil-find-could-lead-to-riches-or-ruin]

In 2017 Moray House Trust hosted five events devoted to examining aspects of Guyana’s nascent petroleum industry.

Read more:  UPDATE FROM MORAY HOUSE TRUST- FEBRUARY 2018