Today’s column continues the discussion of Guyana’s long declared policy option of seeking membership of the Extractive Industries Transparency Initiative (EITI) as a cornerstone of its approach to governance of the fast approaching time of oil and gas production and export.
Introduction Last Sunday’s column completed my presentation of ten lessons which I have argued the Guyanese authorities can profitably learn from a studied appraisal of worldwide experiences with oil-based sovereign wealth funds (SWFs) over the past six decades.
Today’s column continues the presentation of lessons Guyana can learn from global experiences with oil and gas-based SWFs.
Following last week’s discussion of Sovereign Wealth Funds (SWF) as a mechanism for avoiding and/or controlling the triad of crises typically associated with booms in oil and gas export revenues, I describe below the Government of Guyana’s declared intention with regards to its own SWF.
From early colonial times, Guyana’s commodity potential has attracted external investments. And this attraction has remained easily the leading indicator of both Guyana’s growth and development performance as well as its prospects.
Introduction Under Section 31 of the Petroleum Act, official notification was given last month, by ExxonMobil and its partners (Nexen Energy and Hess Corporation), to the Government of Guyana confirming the find (discovery) of commercial quantities of oil and gas in the Stabroek Block.
Introduction Today’s column concludes the discussion on fiscal break-even prices for crude oil, introduced three weeks ago on November 13.
Introduction In this ongoing series discussion of Guyana’s prospect during its coming time of oil and gas production and export (that is circa 2025), I had introduced in last week’s column the notion of the break-even price.
Introduction: Cost-Price Relation Two weeks ago (October 23), this column had introduced as part of the continuing discussion of “Guyana in the coming time of oil and gas production and export”, the notion of the “cost-price relation” that could emerge after production starts.
Introduction Today’s column is primarily aimed at amplifying those references, which were made last week to the dynamic features of Guyana’s ‘potentially massive’ oil and natural gas discovery.
Introduction Based on the medium and long-term outlook of the world’s energy market, today’s column introduces two further policy lessons to guide Guyana’s planning for future oil and gas production and export.
The question I respond to in today’s column is: Does the prevailing world energy outlook offer useful policy lessons for Guyana’s benefit, in anticipation of its oil and gas production coming on stream in the early 2020s?
Introduction Last’s week column identified several key trends on the demand side of the global energy market.
Introduction Today’s column concludes my discussion of Guyana’s extractive forest sub-sector. I shall return later to the issue of its governance, when I attempt a more general assessment of governance in Guyana’s extractive industries sector, as a whole.