On this first day of the New Year I wish my readers, the readers of SN and all Guyanese, a joyful day and a successful 2022. In the new year we should give some thought to the thirty percent of Guyanese who live below the poverty line and about thirty percent of those who live […]
Tag Archives: petroleum
SAD TO SAY
It is sad to say that the Global Witness report, “Signed Away,” analyzing EEPGL’s (the ExxonMobil controlled Esso Exploration and Production Guyana Limited) agreement with Guyana and the damning circumstances leading up to its signing, will not influence the vote of more than a handful of people, if so many, at the elections on March […]
500,000 Barrels A Day.
With the production of 500,000 barrels a day for 300 days a year at US$40 a barrel, the annual income would be US$6 billion. The cost of production of oil varies widely, depending on whether it is onshore or offshore and if offshore, how far away and how deep. To give some idea North Sea […]
ENDING THE POLITICS OF ETHNO-POLITICAL DOMINATION
The spectacular discoveries of oil in offshore Guyana, with promises of a glowing future, must be tempered with what that future really means and with the realities of today. It appears that Guyana stands to receive $US300 million a year for the first five years after production commences and a little over that sum for […]
GUYANA’S FUTURE AS AN OIL PRODUCER
The official information is that Guyana’s petroleum deposits are estimated to be equivalent to 800 million to 1.4 billion barrels of oil from the results of two wells. Many more wells are expected to be drilled by Exxon in the future and no one knows how much more oil, if any, would be discovered. The […]