The Road To First Oil

ExxonMobil’s Road Show

Introduction Two weeks ago in Toronto, Canada, the organisation Caribbean Council of the Americas (CCA) in a public advertisement invited the Guyanese community and “other interested parties in the greater Toronto area to learn about all and gas exploration and development in Guyana.” The advertisement announced that the session would include an overview of ExxonMobil‘s recent exploration and operations.

Landlordism in the Oil and Gas sector (Continued)

Introduction Following up on last week’s column we have set out below a Table summarizing the Profit and Loss Statement of Mid-Atlantic for each of the years 2013 (part-year) to 2018 extracted from the company’s audited financial statements lodged with the Commercial Registry, a statutory obligation under the Companies Act.

Every Man, Woman and Child Must Become Oil-Minded (Part 62)

Introduction During the recently-concluded United Nations General Assembly in New York, USA, the Guyana Delegation led by Foreign Minister Carl Greenidge facilitated a meeting between the Governor of the Bank of Guyana and representatives of Merrill Lynch, the investment arm of the Bank of America Corporation which had expressed an interest in Guyana’s proposed Sovereign Wealth Fund.

The saga of the audit creates more confusion

Introduction In an advertisement appearing in the national media yesterday, the Ministry of Natural Resources, on its own behalf and that of the Government of Guyana, invited expressions of interest by Consultants desirous of providing services to the Project Execution Unit, presumably of the Ministry, to “conduct an audit of the Recoverable Contract Costs as called for in the signed Production Sharing Contract(s).” It also requires the successful person or Firm to provide on-the-job training to the staff of the Guyana Revenue Authority (GRA) and the Office of the Auditor General (OAG) on cost recovery auditing, “with a particular focus on value for money.” The advertisement sets out the scope of the consultancy to include: 1. 

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