https://www.kaieteurnewsonline...an-following-jagdeo/

 

Whose orders was Minister of Natural Resources, Raphael Trotman, following when he signed away the Orinduik Block with a Production Sharing Agreement (PSA) that essentially provides no royalty for Guyana?
Opposition Leader, Bharrat Jagdeo, wants to know.

Minister of Natural Resources, Raphael Trotman

During a press conference yesterday at his Church Street office, Jagdeo admonished the Minister for his response to recent criticism of the terms of the PSA, for which British oil major Tullow is the operator.
A provision of the agreement has faced criticism for two issues. Firstly, the one percent royalty detailed in the PSA is an industry low, even lower than the two percent royalty in the Stabroek PSA that has fielded sustained criticism. Secondly, the one percent royalty is recoverable.
Commenting on this yesterday, Jagdeo said, “It’s not one percent because it’s recoverable. Recoverable means it’s zero. We have to pay their one percent royalty for them. That is the problem.”
Last week, Kaieteur News contacted Minister Trotman to explain the reason behind allowing this provision to be included in the PSA.
Trotman who signed the deal with Tullow Oil and Eco Atlantic would only say, “I’m unable to discuss beyond saying that, as with both contracts, I acted on directions, which I believe were in the best long-term strategic interest of the country.”
What is pressing to the Opposition Leader is finding out who passed down the directions.”
“Trotman said he’s been following orders to sign these contracts. Whose orders? This is something we should really pursue.”
Jagdeo said this response shows that the Government has abdicated its responsibilities to the oil sector, to spend more time on the campaign trail.
“They can’t represent the interests of Guyana. How could these people – Trotman and whoever he’s taking orders from – continue to represent our interests? They’re incompetent. They’re all talk. They’re not looking out for our interests.”
The recovery of the meagre one percent royalty was recently exposed in a report prepared by Hannam and Partners (Advisory), a leading independent investment bank that provides advice and access to capital. The document, purported to list the reasons Eco-Atlantic – an operator on the Orinduik Block – is an attractive bet for investors.
The document noted that one of the most attractive provisions in the Orinduik PSA, for which Eco-Atlantic, has a 15% stake, is that the one percent payable to Government, “can be claimed back through cost oil”.
So far, the current distribution of stakes, as approved by the Government of Guyana, is Tullow – 60% (Operator), Total – 25% and Eco – 15%.
Recently, Tullow announced that it struck oil on the Orinduik Block.
Tullow’s Chief Executive, Paul McDade, had noted that the discovery was made at the Jethro-1 well, which could hold more than 100 million barrels of recoverable oil.

 

Original Post

Guyana has to renegotiate this agreement. It is getting zero. According to the late Steve Jobss that is still a value. This is when he wanted to stiff people out of their money. But when Prashad looks at this Guyana is getting less than zero because it will have to deal with the environmental consequences of the oil extraction whatever it may be.

 

“I’m unable to discuss beyond saying that, as with both contracts, I acted on directions, which I believe were in the best long-term strategic interest of the country.”
What is pressing to the Opposition Leader is finding out who passed down the directions.”
“Trotman said he’s been following orders to sign these contracts. Whose orders? This is something we should really pursue.”

PNC incompetence knows no bounds. 

Dave posted:
ksazma posted:

Looks like Guyana will still be looking to us with its begging bowl for a very long time.

Thanks to the smart Coalition Government. 

They are not the government anymore. They are essentially squatting illegally in office.

ksazma posted:
Dave posted:
ksazma posted:

Looks like Guyana will still be looking to us with its begging bowl for a very long time.

Thanks to the smart Coalition Government. 

They are not the government anymore. They are essentially squatting illegally in office.

That’s rite.. the care taker government. 

Banna he doing it already. Yesterday as I was driving on my way to town to check for mail, a woman walking toward me on the sidewalk decided to remove her sweater. As she lifted it, up came shirt and bra at the same time..voila! Tits galore, no shit banna. 

cain posted:

Banna he doing it already. Yesterday as I was driving on my way to town to check for mail, a woman walking toward me on the sidewalk decided to remove her sweater. As she lifted it, up came shirt and bra at the same time..voila! Tits galore, no shit banna. 

Yuh kno sheh did dat fuh yuh right? Tits mek de world so much more beautiful. 

Image result for wet t shirts

ksazma posted:
cain posted:

God bless the Coalition Govt.

Bai, God's blessings ain't enough to save the Coalition or Guyana from the Coalition's wickedness. 

Kascz, that is what a slave would say. Jim Jones missed many Guyanese IDIOTS!!!

Nehru posted:
ksazma posted:
cain posted:

God bless the Coalition Govt.

Bai, God's blessings ain't enough to save the Coalition or Guyana from the Coalition's wickedness. 

Kascz, that is what a slave would say. Jim Jones missed many Guyanese IDIOTS!!!

Yeh we notice you still deh roung...too bad.

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