How did the serial posters miss this about Exxon?

It is deceitful for ExxonMobil to compare 1999 contract with 2016


 

 

…Guyana did not get a good deal – Research Centre Director

ExxonMobil has been unceasing in its efforts to delude the international community and even the citizenry into thinking that Guyana got a good deal. In fact, the company took to its Facebook page recently and made a comparison between the 1999 agreement and the one that was revised in 2016 by the David Granger-led administration.
In its comparison, Exxon points out that Guyana did not get a signing bonus in 1999, but it did in 2017. In 1999, the annual rental fee was US$240,000 but it was increased to US$1M per year in the 2016 contract.
It noted that the annual training fee was US$45,000 but it was increased to US$300,000 per year. It also tried to paint the contract as a “good deal” by stating that Guyana will get annual social environmental support to the tune of US$300,000 and two percent royalty.

Chartered Accountant, Chris Ram

Lisa Sachs, Director at Columbia Center on Sustainable

In a recent interview on AlJazeera, (http://stream.aljazeera.com/st...201807302226-0025687), Oil and Gas Academic, Chris Ram and Lisa Sachs, Director, Columbia Center on Sustainable Investment, agreed that not only is the comparison by ExxonMobil without merit but, that the 2016 oil and gas deal leaves Guyana catching crumby profits for the exploitation of its oil.
Sachs in particular was quick to note that the circumstances have changed entirely from 1999 to 2016. As such, the two should not be compared. In 1999, she said, there was a period of exploration and it was unknown what the quality of the resource was. In 2016, the citizenry now knows what it has, Sachs stated.
“And so it is disingenuous of Exxon, frankly, to be making that comparison. What we should be looking at is whether the deal in 2016 is appropriate for the Government, and it is widely agreed and widely acknowledged that it is not. Guyana did not get a good deal. I would say, although somewhat controversial, I wouldn’t be afraid of having an honest conversation about whether this is a good deal and talking about how to rebalance the deal.”
Sachs added, “Investors and frankly the media always make governments scared of approaching that, but there are dozens, hundreds of renegotiations in the resource sector around the world, in developed countries, in the UK, in Canada, etc…”
Ram was in total agreement with Sachs. He also sought to clarify statements by ExxonMobil that it could have continued with the 1999 agreement, but it was government that requested to do an early review. Ram said that the public should be aware that ExxonMobil and its partners had no choice but to return to the table since the contract had expired.
Ram pointed out, too, that while ExxonMobil is busy trying to hoodwink the nation into believing that it gave Guyana a good deal, it fails to reveal that it inserted US$460M in pre-contract costs into the deal which upon examination, seems inflated.
PRE-CONTRACT COSTS
Ram was one of the concerned citizens who called for the US$460M pre-contract costs to be audited. Based on his examination, he said that the numbers were not adding up.
Ram in his writings noted that ExxonMobil is represented by three companies as the contractor for the Stabroek Block: Esso, CNOOC and Hess. Using the financial statements of Esso and CNOOC, the only ones, which were publicly available, he pointed out a few important things.
Ram highlighted, for example, that the combined expenditure of Esso and CNOOC at December 31, 2015 was $26B with reported losses of $21B, giving a total of $47B. In United States dollars, using a $200 rate, Ram said that this gives a total US$245 million, well short of the $460 million that the Government accepted in the agreement with ExxonMobil.
To make up the total of US$460 million, Ram said that Hess alone would have had to spend, in contract costs, some US$215 million or approximately $46B, which he opined would defy logic.
Ram stressed that the only satisfactory and acceptable resolution of this matter is a special audit being independently undertaken.

 
Original Post

It was only printed yesterday by Kaieteur. I notice you quiet on this mammoth  giveaway by the Granger administration, but you certainly got small fries on your mind as you are more worried about a few thousand US dollars questionably gifted during the PPP administration but turn a blind eye to Billions of US dollars conceded to Exxon by the incompetent PNC/AFC. 

Drugb posted:

It was only printed yesterday by Kaieteur. I notice you quiet on this mammoth  giveaway by the Granger administration, but you certainly got small fries on your mind as you are more worried about a few thousand US dollars questionably gifted during the PPP administration but turn a blind eye to Billions of US dollars conceded to Exxon by the incompetent PNC/AFC. 

To whom is this addressed and what the hell are you talking about? But just to correct a small error on your part, about six years ago I was told by someone who was at one time the most influential person in Guyana, exact words, "... is not lil bit money them man thief. Is millions and millions of US..." He was speaking about the Rat and his gang.

antabanta posted:
Drugb posted:

It was only printed yesterday by Kaieteur. I notice you quiet on this mammoth  giveaway by the Granger administration, but you certainly got small fries on your mind as you are more worried about a few thousand US dollars questionably gifted during the PPP administration but turn a blind eye to Billions of US dollars conceded to Exxon by the incompetent PNC/AFC. 

To whom is this addressed and what the hell are you talking about? But just to correct a small error on your part, about six years ago I was told by someone who was at one time the most influential person in Guyana, exact words, "... is not lil bit money them man thief. Is millions and millions of US..." He was speaking about the Rat and his gang.

Drugb has a point, government supporters are too fixated on the prior administration small change theft and miss the big giveaway to the oil giant by their party. But I see that you put a lot of faith in hearsay about millions stolen. Its a wonder that sara did not jail Jagdeo as yet. 

Reeper posted:
antabanta posted:
Drugb posted:

It was only printed yesterday by Kaieteur. I notice you quiet on this mammoth  giveaway by the Granger administration, but you certainly got small fries on your mind as you are more worried about a few thousand US dollars questionably gifted during the PPP administration but turn a blind eye to Billions of US dollars conceded to Exxon by the incompetent PNC/AFC. 

To whom is this addressed and what the hell are you talking about? But just to correct a small error on your part, about six years ago I was told by someone who was at one time the most influential person in Guyana, exact words, "... is not lil bit money them man thief. Is millions and millions of US..." He was speaking about the Rat and his gang.

Drugb has a point, government supporters are too fixated on the prior administration small change theft and miss the big giveaway to the oil giant by their party. But I see that you put a lot of faith in hearsay about millions stolen. Its a wonder that sara did not jail Jagdeo as yet. 

This hearsay, definitely. What is your basis for confessing to the prior administration's small change theft? Hearsay?

I agree with you 100% that there is a massive problem with the renewed oil contract, regardless of the excuses of the present administration.

antabanta posted:
Reeper posted:
antabanta posted:
Drugb posted:

It was only printed yesterday by Kaieteur. I notice you quiet on this mammoth  giveaway by the Granger administration, but you certainly got small fries on your mind as you are more worried about a few thousand US dollars questionably gifted during the PPP administration but turn a blind eye to Billions of US dollars conceded to Exxon by the incompetent PNC/AFC. 

To whom is this addressed and what the hell are you talking about? But just to correct a small error on your part, about six years ago I was told by someone who was at one time the most influential person in Guyana, exact words, "... is not lil bit money them man thief. Is millions and millions of US..." He was speaking about the Rat and his gang.

Drugb has a point, government supporters are too fixated on the prior administration small change theft and miss the big giveaway to the oil giant by their party. But I see that you put a lot of faith in hearsay about millions stolen. Its a wonder that sara did not jail Jagdeo as yet. 

This hearsay, definitely. What is your basis for confessing to the prior administration's small change theft? Hearsay?

I agree with you 100% that there is a massive problem with the renewed oil contract, regardless of the excuses of the present administration.

Yall rass want some good lash in yuh backside for focusing on Jagdeo, a has been, and giving Granger et al in the present a free pass for the exxon give away. You and the sloppy boys fixated on alleged millions vs billions of US to Exxon.  I guess the pnc bigan too sweet and you can't get enough of it so you sacrifice your objectivity.

Drugb posted:
antabanta posted:
Reeper posted:
antabanta posted:
Drugb posted:

It was only printed yesterday by Kaieteur. I notice you quiet on this mammoth  giveaway by the Granger administration, but you certainly got small fries on your mind as you are more worried about a few thousand US dollars questionably gifted during the PPP administration but turn a blind eye to Billions of US dollars conceded to Exxon by the incompetent PNC/AFC. 

To whom is this addressed and what the hell are you talking about? But just to correct a small error on your part, about six years ago I was told by someone who was at one time the most influential person in Guyana, exact words, "... is not lil bit money them man thief. Is millions and millions of US..." He was speaking about the Rat and his gang.

Drugb has a point, government supporters are too fixated on the prior administration small change theft and miss the big giveaway to the oil giant by their party. But I see that you put a lot of faith in hearsay about millions stolen. Its a wonder that sara did not jail Jagdeo as yet. 

This hearsay, definitely. What is your basis for confessing to the prior administration's small change theft? Hearsay?

I agree with you 100% that there is a massive problem with the renewed oil contract, regardless of the excuses of the present administration.

Yall rass want some good lash in yuh backside for focusing on Jagdeo, a has been, and giving Granger et al in the present a free pass for the exxon give away. You and the sloppy boys fixated on alleged millions vs billions of US to Exxon.  I guess the pnc bigan too sweet and you can't get enough of it so you sacrifice your objectivity.

You seem more focused on the Rat than I ever could be. It's that focus that prevents you from accepting the obvious truths. People like you don't want lash, y'all want killing out.

antabanta posted:
Drugb posted:

Yall rass want some good lash in yuh backside for focusing on Jagdeo, a has been, and giving Granger et al in the present a free pass for the exxon give away. You and the sloppy boys fixated on alleged millions vs billions of US to Exxon.  I guess the pnc bigan too sweet and you can't get enough of it so you sacrifice your objectivity.

You seem more focused on the Rat than I ever could be. It's that focus that prevents you from accepting the obvious truths. People like you don't want lash, y'all want killing out.

Look how you gone and incriminate yourself. Remember your cyber foot print lives on. Whatever you write can be used as evidence for future crimes. Meanwhile, I await your criticism of the PNC corruption and incompetence, but I am not holding my breath. 

antabanta posted:
Drugb posted:
antabanta posted:
Reeper posted:
antabanta posted:
Drugb posted:

It was only printed yesterday by Kaieteur. I notice you quiet on this mammoth  giveaway by the Granger administration, but you certainly got small fries on your mind as you are more worried about a few thousand US dollars questionably gifted during the PPP administration but turn a blind eye to Billions of US dollars conceded to Exxon by the incompetent PNC/AFC. 

To whom is this addressed and what the hell are you talking about? But just to correct a small error on your part, about six years ago I was told by someone who was at one time the most influential person in Guyana, exact words, "... is not lil bit money them man thief. Is millions and millions of US..." He was speaking about the Rat and his gang.

Drugb has a point, government supporters are too fixated on the prior administration small change theft and miss the big giveaway to the oil giant by their party. But I see that you put a lot of faith in hearsay about millions stolen. Its a wonder that sara did not jail Jagdeo as yet. 

This hearsay, definitely. What is your basis for confessing to the prior administration's small change theft? Hearsay?

I agree with you 100% that there is a massive problem with the renewed oil contract, regardless of the excuses of the present administration.

Yall rass want some good lash in yuh backside for focusing on Jagdeo, a has been, and giving Granger et al in the present a free pass for the exxon give away. You and the sloppy boys fixated on alleged millions vs billions of US to Exxon.  I guess the pnc bigan too sweet and you can't get enough of it so you sacrifice your objectivity.

You seem more focused on the Rat than I ever could be. It's that focus that prevents you from accepting the obvious truths. People like you don't want lash, y'all want killing out.

Did you ever have the same opinion of yourself when you are economical with the truth? Unless you want to do the killing, you should not make this wild and irresponsible statement.

Drugb posted:
antabanta posted:
Drugb posted:

Yall rass want some good lash in yuh backside for focusing on Jagdeo, a has been, and giving Granger et al in the present a free pass for the exxon give away. You and the sloppy boys fixated on alleged millions vs billions of US to Exxon.  I guess the pnc bigan too sweet and you can't get enough of it so you sacrifice your objectivity.

You seem more focused on the Rat than I ever could be. It's that focus that prevents you from accepting the obvious truths. People like you don't want lash, y'all want killing out.

Look how you gone and incriminate yourself. Remember your cyber foot print lives on. Whatever you write can be used as evidence for future crimes. Meanwhile, I await your criticism of the PNC corruption and incompetence, but I am not holding my breath. 

Should I assume that your two lashes would be gentle? I'm a network engineer/architect with well over two decades in IT. I know enough about the perpetuity of the Internet to know my post is as harmless as your threat. My criticism of the PNC is well-established but, please, do hold your breath and leave the oxygen for someone more deserving.

skeldon_man posted:
antabanta posted:
Drugb posted:
antabanta posted:
Reeper posted:
antabanta posted:
Drugb posted:

It was only printed yesterday by Kaieteur. I notice you quiet on this mammoth  giveaway by the Granger administration, but you certainly got small fries on your mind as you are more worried about a few thousand US dollars questionably gifted during the PPP administration but turn a blind eye to Billions of US dollars conceded to Exxon by the incompetent PNC/AFC. 

To whom is this addressed and what the hell are you talking about? But just to correct a small error on your part, about six years ago I was told by someone who was at one time the most influential person in Guyana, exact words, "... is not lil bit money them man thief. Is millions and millions of US..." He was speaking about the Rat and his gang.

Drugb has a point, government supporters are too fixated on the prior administration small change theft and miss the big giveaway to the oil giant by their party. But I see that you put a lot of faith in hearsay about millions stolen. Its a wonder that sara did not jail Jagdeo as yet. 

This hearsay, definitely. What is your basis for confessing to the prior administration's small change theft? Hearsay?

I agree with you 100% that there is a massive problem with the renewed oil contract, regardless of the excuses of the present administration.

Yall rass want some good lash in yuh backside for focusing on Jagdeo, a has been, and giving Granger et al in the present a free pass for the exxon give away. You and the sloppy boys fixated on alleged millions vs billions of US to Exxon.  I guess the pnc bigan too sweet and you can't get enough of it so you sacrifice your objectivity.

You seem more focused on the Rat than I ever could be. It's that focus that prevents you from accepting the obvious truths. People like you don't want lash, y'all want killing out.

Did you ever have the same opinion of yourself when you are economical with the truth? Unless you want to do the killing, you should not make this wild and irresponsible statement.

I tried to analyze your question but not making much progress. Please explain. What I have done and can do again anytime the situation warrants would astonish you. You're not in a position to tell me what I should or should not do.

antabanta posted:
Should I assume that your two lashes would be gentle? I'm a network engineer/architect with well over two decades in IT. I know enough about the perpetuity of the Internet to know my post is as harmless as your threat. My criticism of the PNC is well-established but, please, do hold your breath and leave the oxygen for someone more deserving.

You mean you attach network cables to the back of a computer for 20 years?  I hope you were wearing knee pads all those years.  This time I let your idle threats pass, but in the future, think before putting fingers to key board. 

Drugb posted:
antabanta posted:
Should I assume that your two lashes would be gentle? I'm a network engineer/architect with well over two decades in IT. I know enough about the perpetuity of the Internet to know my post is as harmless as your threat. My criticism of the PNC is well-established but, please, do hold your breath and leave the oxygen for someone more deserving.

You mean you attach network cables to the back of a computer for 20 years?  I hope you were wearing knee pads all those years.  This time I let your idle threats pass, but in the future, think before putting fingers to key board. 

Is that what engineers do in your world? Please don't spare me. More importantly, I was tempted to tell you to practice what you preach but urging you to think is a lost cause.

antabanta posted:
skeldon_man posted:
antabanta posted:

I agree with you 100% that there is a massive problem with the renewed oil contract, regardless of the excuses of the present administration.

Yall rass want some good lash in yuh backside for focusing on Jagdeo, a has been, and giving Granger et al in the present a free pass for the exxon give away. You and the sloppy boys fixated on alleged millions vs billions of US to Exxon.  I guess the pnc bigan too sweet and you can't get enough of it so you sacrifice your objectivity.

You seem more focused on the Rat than I ever could be. It's that focus that prevents you from accepting the obvious truths. People like you don't want lash, y'all want killing out.

Did you ever have the same opinion of yourself when you are economical with the truth? Unless you want to do the killing, you should not make this wild and irresponsible statement.

I tried to analyze your question but not making much progress. Please explain. What I have done and can do again anytime the situation warrants would astonish you. You're not in a position to tell me what I should or should not do.

Not surprising.

skeldon_man posted:

Did you ever have the same opinion of yourself when you are economical with the truth? Unless you want to do the killing, you should not make this wild and irresponsible statement.

I tried to analyze your question but not making much progress. Please explain. What I have done and can do again anytime the situation warrants would astonish you. You're not in a position to tell me what I should or should not do.

Not surprising.

Indeed. Please explain this question: Did you ever have the same opinion of yourself when you are economical with the truth?

antabanta posted:
Drugb posted:
antabanta posted:
Should I assume that your two lashes would be gentle? I'm a network engineer/architect with well over two decades in IT. I know enough about the perpetuity of the Internet to know my post is as harmless as your threat. My criticism of the PNC is well-established but, please, do hold your breath and leave the oxygen for someone more deserving.

You mean you attach network cables to the back of a computer for 20 years?  I hope you were wearing knee pads all those years.  This time I let your idle threats pass, but in the future, think before putting fingers to key board. 

Is that what engineers do in your world? Please don't spare me. More importantly, I was tempted to tell you to practice what you preach but urging you to think is a lost cause.

Many of yall call yourself engineers haphazardly. You tek a six month crash course and hey presto, yuh call yuhself wan engineer.  Tell us what university you got your engineering degree or did lilmohan write you a fake certificate?

Bai djangy stick to posting pnc propaganda, in fact you missing some articles I indicated on another thread. You miss the yacht cancellation, robbery, corruption. All you posting these days is dribble fed to you by lilmohan. Where you hear I is engineer? 

Drugb posted:

Bai djangy stick to posting pnc propaganda, in fact you missing some articles I indicated on another thread. You miss the yacht cancellation, robbery, corruption. All you posting these days is dribble fed to you by lilmohan. Where you hear I is engineer? 

You think you can hide nah.

You are aware why the Yacht cancellation,the people heard about the Piracy attack in Suriname,suh the cut the trip.

Drugb posted:
antabanta posted:
Drugb posted:
antabanta posted:
Should I assume that your two lashes would be gentle? I'm a network engineer/architect with well over two decades in IT. I know enough about the perpetuity of the Internet to know my post is as harmless as your threat. My criticism of the PNC is well-established but, please, do hold your breath and leave the oxygen for someone more deserving.

You mean you attach network cables to the back of a computer for 20 years?  I hope you were wearing knee pads all those years.  This time I let your idle threats pass, but in the future, think before putting fingers to key board. 

Is that what engineers do in your world? Please don't spare me. More importantly, I was tempted to tell you to practice what you preach but urging you to think is a lost cause.

Many of yall call yourself engineers haphazardly. You tek a six month crash course and hey presto, yuh call yuhself wan engineer.  Tell us what university you got your engineering degree or did lilmohan write you a fake certificate?

You have no idea what a network engineer is, do you? I don't call myself an engineer. My employer does. I would not belittle myself by explaining my credentials to someone who is substantially less qualified than I am.

Django posted:
Drugb posted:

Bai djangy stick to posting pnc propaganda, in fact you missing some articles I indicated on another thread. You miss the yacht cancellation, robbery, corruption. All you posting these days is dribble fed to you by lilmohan. Where you hear I is engineer? 

You think you can hide nah.

You are aware why the Yacht cancellation,the people heard about the Piracy attack in Suriname,suh the cut the trip.

Don't waste time with this tuchchhata. (Hindi for a person or thing of little consequence or significance). And who is this "lilmohan "he keeps mentioning in his posts?

antabanta posted:
skeldon_man posted:

Did you ever have the same opinion of yourself when you are economical with the truth? Unless you want to do the killing, you should not make this wild and irresponsible statement.

I tried to analyze your question but not making much progress. Please explain. What I have done and can do again anytime the situation warrants would astonish you. You're not in a position to tell me what I should or should not do.

Not surprising.

Indeed. Please explain this question: Did you ever have the same opinion of yourself when you are economical with the truth?

Whenever I am economical with the truth,  I will never wish my subject to be killed or wish death upon him. It is vile, cruel and inhumane to wish death upon anyone for telling a lie. You have some kind of twisted logic confusing your pea sized brain.

Mitwah posted:
Don't waste time with this tuchchhata. (Hindi for a person or thing of little consequence or significance). And who is this "lilmohan "he keeps mentioning in his posts?

I guess he'll keep badgering you about Lillymohan until you reveal your real name.  

Leonora posted:
Mitwah posted:
Don't waste time with this tuchchhata. (Hindi for a person or thing of little consequence or significance). And who is this "lilmohan "he keeps mentioning in his posts?

I guess he'll keep badgering you about Lillymohan until you reveal your real name.  

In other words Goads "Goading" him nuh?

skeldon_man posted:
antabanta posted:
skeldon_man posted:

Did you ever have the same opinion of yourself when you are economical with the truth? Unless you want to do the killing, you should not make this wild and irresponsible statement.

I tried to analyze your question but not making much progress. Please explain. What I have done and can do again anytime the situation warrants would astonish you. You're not in a position to tell me what I should or should not do.

Not surprising.

Indeed. Please explain this question: Did you ever have the same opinion of yourself when you are economical with the truth?

Whenever I am economical with the truth,  I will never wish my subject to be killed or wish death upon him. It is vile, cruel and inhumane to wish death upon anyone for telling a lie. You have some kind of twisted logic confusing your pea sized brain.

So your kowa-sized brain assumes that because you're economical with the truth, I am also? And why is your kowa-sized brain not offended by the man's threat to beat me? Does your kowa-sized brain assume he meant love pats? And why does your kowa-sized brain wish to impose your values, superficial as they are, upon me?

cain posted:
Leonora posted:
Mitwah posted:
Don't waste time with this tuchchhata. (Hindi for a person or thing of little consequence or significance). And who is this "lilmohan "he keeps mentioning in his posts?

I guess he'll keep badgering you about Lillymohan until you reveal your real name.  

In other words Goads "Goading" him nuh?

Meh guess wid dat big goady, he will goad me like forever. hahahahahah!

yuji22 posted:

Anta,

That was a typo, auto correct gone rouge. My apologies. 

Ya mean it gone rogue. My auto correct does the same blasted thing. Example: Bernice for Berbice, or Oriya for Priya. But I found a way to get over it. In my Android setting, under "input method" there is a "personal dictionary" field where you can add your own words like mattie, GuySuCo, Simona etc. Your iPhone should have something similar.

Gilbakka posted:
yuji22 posted:

Anta,

That was a typo, auto correct gone rouge. My apologies. 

Ya mean it gone rogue. My auto correct does the same blasted thing. Example: Bernice for Berbice, or Oriya for Priya. But I found a way to get over it. In my Android setting, under "input method" there is a "personal dictionary" field where you can add your own words like mattie, GuySuCo, Simona etc. Your iPhone should have something similar.

Alyuh hi-tech,i doan use no auto correction.

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