Latest update April 25th, 2024 12:59 AM
Feb 07, 2020 News
The Global Witness report is giving new life to criticisms that locals have been leveling for years against the Government of Guyana, for its poor negotiation of the fiscal terms in the Stabroek license
Granted to ExxonMobil, Hess and CNOOC, the lopsided nature of the deal has now reached several globally-recognised international publications that had, for the past few years, focused almost entirely on the magnitude and quantity of Guyana’s oil and gas discoveries, instead of the nature of the fiscal terms.
The report states that Guyana is set to lose about US$55B due to the “unjustly exploitative” deal, and urges all parties to renegotiate the deal for the betterment of Guyana.
Despite this matter reaching international proportions, President David Granger has not directly addressed it, though the report was published since last Monday. The Department of Public Information has, however, released a statement condemning the Global Witness report.
Opposition Leader, Bharrat Jagdeo, criticised Granger’s silence on this and other oil sector developments during his most recent press conference, at his Church Street office yesterday. He referred to an even more recent report, by Clyde and Company, which also speaks to the nature of negotiations leading up to the signing of the Stabroek Block Production Sharing Agreement (PSA).
The report mentions Granger and his 2016 meeting with some ExxonMobil officials to “discuss the terms of the new petroleum agreement.”
The President has seldom spoken directly on developments in the petroleum sector. He has, at times, displayed ignorance about what is going on in the sector. Up to late 2018, this publication had reported on Jagdeo’s criticism of the President for having failed to read the contract. That was two years after the signing.
It is unclear how much the President’s knowledge has evolved on the sector, but Jagdeo is adamant that, as leader of Guyana and of the industry, Granger must take responsibility for the deal that he approved.
Commenting on the President’s current disposition in respect to the petroleum sector, the Opposition Leader said “He’s like Pontius Pilate… The last time I checked, he’s still the President of Guyana.”
Jagdeo said that persons ought to consider that this matter has blown so far out of proportion, with no address from the President.
“Not a word from him about how he sees it. The country doesn’t know what he’s thinking here.”
Nevertheless, the President has been out and about in the days following the report’s publication. Of this Jagdeo asked “Do we have a ceremonial president?”
A perusal of the Ministry of the Presidency’s Facebook page shows the Head of State attending various events.
From Monday onward, the President attended an award ceremony, accepted Ambassadors’ letters of credence, and commissioned a House opening.
Jagdeo said that the public deserves much more from the President.
Jagdeo giving Exxon 102 cent to collect 2 cent.
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