Guyana described as next big global oil beast without meaningful benefits

first_imgDear Editor,Mr Robin Mills, a guru in the oil industry, writing for “The National”, an online and print media platform, posted on October 8, 2018 that – “Guyana may be the next big beast in Global Oil”; Mills foresees the country emerging as the top per capita oil producer.It is noteworthy that Mr Mills of The National ignored the robber baron 2 per cent royalty in the 2016 Production Sharing Agreement (PSA) between Exxon’s Esso two partners, Hess & Nexen, and the Government of Guyana, which is so blatantly minuscule, odious and obnoxious.Guyana, after being referred to as a Frontier State by international energy research firm “Wood McKenzie”, and now an oil beast by The National”, has indeed suffered the slings and arrows of outrageous fortune. Our economic straits have now housed us as a global oil nation, without remedying the abysmal 2 per cent royalty that enchains us.Many are inclined to focus on the shadowy and smoky 50/50 “profit sharing” post expense contract stipulation; it is more a contrivance than a condition of any value, that should be ignored due to its subjectivity in the treatment of capital and current costs, and what could be deducted and set-off from the profit share remnants, if any; with special emphasis on the mysterious, coreless and fungible pre– contract costs.The will of the Guyanese who seek and strive to obtain a fair share of our oil resources by having the incomparable, incongruous and incompatible 2 per cent royalty renegotiated is undiluted. Whether we have one billion or fifteen billion barrels of oil; whether we are governed by PPP/C or PNCR, we must benefit meaningfully from our resources.Every Guyanese politician, non–governmental organisation, private sector executive, some local commentators, and international organisation such as Chatham House, Natural Resource Government Institution, among others, try to treat us as myopics and encourage us to focus on the terms of post oil contracts. The attempted Segway is an oily herring that is a form of glad-handing with the handlers.The global oil giant ExxonMobil currently controls Guyana’s Stabroek Block contract, a block that represent 100 per cent of commercial oil discovered in Guyana’s offshore as at September 30, 2018.Yet, we have some analysts and commentators twisting themselves into pretzels by seeking to have Guyanese focus on other oil contracts that the Government of Guyana has with Repsol, Tullow, Mid-Atlantic and Total, among others; though these companies have discovered zero oil in Guyana’s offshore. Let us focus our energies on revising the contract with Exxon’s Esso and their partners.Some of our learned and “objective” oil aficionados have made a stormy fuss about the difference between one per cent and two per cent, while overlooking the depraved nature of the beastly contract that has so far accounted for over five billion barrels of known oil recoverable reserves, carrying plundering 2 per cent royalty. The specialists compute the value of 1 per cent of zero; while the exploitative 2 per cent contract with Exxon’s Esso is not mentioned or made invisible to the general public, even as it is covered in sanctity and sanity by overlooking its morass contract terms.Let us not endorse and make a reality of the words of Sophocles, the greatest of the Greek tragedians, who said, “The greatest grief are those we cause ourselves.”Yank and revise the 2016 PSA, as consistently requested by Christopher Ram, Melinda Janki and Ramon Gaskin.Sincerely,Nigel Hindslast_img read more

2 more NOC escapees recaptured by Police

first_imgThe New Opportunity Corps, Onderneeming, Essequibo Coast, Region TwoTwo male teens, who had escaped from the New Opportunity Corps (NOC) which is located at Onderneeming, Essequibo Coast, Region Two (Pomeroon-Supenaam) on March 26, have been recaptured by the police. However, police are still on the hunt for one more teen, who is still to be recaptured.The others from the group of the six who escaped have returned to the NOC voluntarily.This is according to Commander of G Division (Essequibo Coast-Islands), Senior Superintendent Khali Pareshram, who said that law enforcement officials are still on the hunt for one remaining juvenile.He previously told this publication, in relation to the latest escape attempted by teens housed at the institution, that although six had escaped from the NOC between March 25 and 26, 2019, a report was only made to the police about the incident on March 29 (Friday).Reports are that on March 26, 2019, at about 08:00h, four males escaped by scaling the fence surrounding the juvenile correctional facility.On the same day at about 17:30h, two other male teens crawled through a dried up koker in the compound.They all made good their escape.Less than two weeks before this, on March 16, 24 teenagers, who were being housed at this holding centre in Region Two, escaped from the facility.Reports are that at about 09:30h, the discovery was made that 17 males and seven females made good their escape even with three security officers and their dorm mothers and fathers in the building.According to the police, investigations revealed that the females opened a southern door in their dormitory and tied five sheets together then threw the knotted sheets over the western fence of the compound in order to escape.last_img read more

Pedestrian killed in Essequibo accident

first_imgA pedestrian was killed on Monday night after he was run over by a car, which was driven by a 21-year-old man from Johanna Cecelia village, on the Essequibo Coast. The accident occurred on the Adventure Public Road at around 19:30h.According to information reaching Guyana Times, the pedestrian, who has been identified as Ashuk Dass, 56, of Adventure village, was last seen imbibing on Monday evening. The driver of motor car, PVV 4390, was proceeding East around the northern side of the Adventure access road and was about to take a left turn when he allegedly ran over the pedestrian.Dead: Ashuk DassAfter the impact, the man reportedly came out of the vehicle and saw Dass lying motionless on the road. He immediately rendered assistance and took him to the Suddie Public Hospital. However, Dass was pronounced dead on arrival by doctors.According to eyewitnesses who converged on the scene, they saw the man lying on the road and it appeared as though he sustained severe injuries to his face. Villagers also reported that they had seen Dass in the area earlier in the evening, watching a game of cricket.According to the dead man’s sister, Nirupa Dass, she last saw her brother on Monday evening. She explained that the man lives alone and that she would usually cook for him. The deceased, a father of one, has been separated from his wife for some time and was said to be in the habit of drinking alcohol and was always roaming the area. His body was taken to the Suddie mortuary where it awaits a post-mortem examination.The car involved in the accident which killed DassSeventeen-year-old Iftikar Ishmael, a mechanic from Lot 36 Vilvoorden, Essequibo Coast, also lost his life in an accident on Sunday, which occurred on the Airy Hall Public Road. That accident involved a motor lorry, GNN 6695, owned and driven by 30-year-old Balwant Mohabeer, a truck driver of Lot 52 Zorg, Essequibo Coast. Mohabeer is presently in Police custody assisting with investigations.Ishmael was the eldest child for his parents. His body is also at the Suddie mortuary awaiting a post-mortem examination.last_img read more

Development Cost Charges a Strong Possibility

first_img [asset|aid=3352|format=mp3player|formatter=asset_bonus|title=80bed9e1b42c9f0620ba4b3a39059504-DCC 2_1_Pub.mp3] Developers may have to dig a little deeper into their pockets upon developing new sub-divisions.According to a motion that is set to take action in the near future, development cost charges, or DCC’s, would be paid by the developing companies, rather than being subsidized by the local government and tax payers. Joel Short from Urban Systems says the idea can financially benefit a city. [asset|aid=3351|format=mp3player|formatter=asset_bonus|title=80bed9e1b42c9f0620ba4b3a39059504-DCC 1_1_Pub.mp3] – Advertisement -Such charges are new to the City of Fort St. John but have been implemented in many other cities across the country. The City has already acknowledged that it can not afford to continue financing the full costs associated with new growth and development, nor should such a burden be placed on existing tax payers. This point was continuously brought up at Monday’s council meeting. The City stressed this point to local developers who were present at the meeting and opposed the new charges. Although, once implemented, local developers will not immediately be burdened with the full cost of the new charges. Advertisement The proposal of implementing development cost charges has been in the works for quite some time. Urban Systems first proposed the idea in 2008. The charges are expected to be implemented in the city on Jan.1/2012.last_img read more

Kasarani ready for Hull, Nyayo in race against time

first_imgThe playing area has been sealed off as the Kikuyu Grass planted by the specialists takes root and is smothered ahead of Sunday’s tie.The aerial view of the Moi Sports Centre Kasarani as taken on May 9, 2018. Photo/TIMOTHY OLOBULU“There is still a small section that we have not finished but most of it is done. We took a bit of grass from Utalii and it is what we used to set base for what we had planted on our own. We changed the entire foundation and the drainage system so everything is okay with the pitch. We should be okay for Sunday,” one of the contractors from Gregori International who have been working on the pitch said.However, there is a small concern on overuse and the contractors who have had to work with a crush program hope it will be managed properly.Sports Principal Secretary Ambassador Peter Kaberia made an impromptu visit in the stadium on Wednesday afternoon and he says he is impressed with the work that has been put in.Sports PS Peter Kaberia inspects the Kasarani Stadium playing surface on May 9, 2018. Photo/TIMOTHY OLOBULU“I am very happy that the pitch is taking shape and the guys here have done a good job. We were doing a sequential job; we started with Kasarani which it will be tested this week, then we continue with conclusion of the works,” Kaberia told Capital Sport.-Kinoru Stadium-“From here we will go to Meru which will be tested on Madaraka day with the national celebrations and after that we will also have a match there. We will then go to Nyayo after that and then we complete the job,” Kaberia added.Nyayo is undergoing more work with the VIP dias and dressing rooms being done afresh and it is highly unlikely that it will be complete by June 1.Sports PS Peter Kaberia (right) chats with representatives from Hull City at the Kasarani Stadium on May 9, 2018. Photo/TIMOTHY OLOBULU“We will strive to ensure that at least by the end of June, we have these three finally ready to host games. The Machakos stadium has been overstretched and for the sake of our sports people, we have to get these facilities ready,” Kaberia noted further.Meanwhile, Kaberia noted that it will take more time for the completion of the Kipchoge Keino Stadium which has more pending work.0Shares0000(Visited 8 times, 1 visits today) 0Shares0000The Moi Sports Centre Kasarani playing surface as taken on May 9, 2018. Photo/TIMOTHY OLOBULUNAIROBI, Kenya, May 9- While the Moi International Sports Centre Kasarani is 90 percent ready for Sunday’s international friendly between record Kenyan Premier League champions Gor Mahia and English championship side Hull City on Sunday, there are doubts whether the Nyayo Stadium will beat the June 1 deadline set by the Sports Ministry.Contractors at the Kasarani Stadium were busy on Wednesday morning doing the final patch-up on the pitch, working on the dressing rooms and media area with the playing surface now almost ready.last_img read more

Credit-card firms hit on-time payers also

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREPettersson scores another winner, Canucks beat Kings “My husband and I feel as though we have been robbed,” Hard told the Senate Permanent Subcommittee on Investigations on Tuesday. “As we struggle to overcome this financially, we also are struggling to overcome it on an emotional level.” The panel’s chairman, Sen. Carl Levin, D-Mich., is sponsoring legislation that would restrict credit-card interest rates to certain instances – such as at the conclusion of a low, introductory rate period, contracts that have variable rates and when a cardholder violates the agreement with the issuer. “When a credit-card issuer promises to provide a cardholder with a specific interest rate if they meet their credit-card obligations, and the cardholder holds up their end of the bargain, the credit-card issuer should have to do the same,” Levin said. Some major credit-card companies – Citigroup Inc., JPMorgan Chase & Co. and Capital One Financial Corp. – recently have said they will discontinue the practice of raising a customer’s interest rate based solely on a credit report.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Depending on her husband’s salary as a steamfitter while she raised the children was financially difficult, Hard said, especially with college tuition on the horizon. To keep the family’s finances in balance, Hard said, she paid more than the minimum payment on her Discover card every month, plus an $8.00 Internet fee. Or so she thought. In February, Hard noticed that despite her payments, the balance was “barely moving.” A phone call to Discover solved the mystery, but not the problem: The company had increased her interest rate from 18 percent to 24.24 percent after running a spontaneous credit report that showed her other credit-card balances and available credit on inactive accounts put the family at a higher risk of defaulting on their payments. Most stunning, $3,478.39 out of $5,618 in payments had gone to Discover for interest accrued over the previous two years, Hard told the panel. On a monthly level, about $176 out of her $200 payments went to finance charges. In the past year alone, Hard had paid $2,400 but reduced her debt by only about $350. center_img Check your holiday credit-card bills closely. Some credit-card companies are raising interest rates on good customers even if they pay down their balances, on time, every month. The reason they cite is that the customer’s credit rating has fallen elsewhere. That was a rude surprise to Janet Hard, a stay-at-home mother of two teenage boys from Freeland, Mich. last_img read more

Antique-road show, sale

first_imgDUBLIN, Ind. – Long before railroads linked the nation, stagecoaches and wagons hauling settlers bumped their way west along the first U.S. interstate highway – some 700 miles of what was initially little more than a dirt road. The National Road, or U.S. 40, turns 200 this year, and residents along its east-west course hope to lure tourists with small-town charm, festivals and historical sites such as brick inns that once catered to road-weary travelers. The bicentennial events include the Historic National Road Yard Sale, an everything-must-go sale spread out along 824 miles of the road’s modern course, from Maryland to Illinois. Carol Stewart, president of the Franklinton Historical Society in Columbus, Ohio, said people are delving into attics and basements to find items for the sale, which ends today. Today, weathered stone mile-markers still dot the old National Road, which ran from Cumberland, Md., through Pennsylvania, West Virginia, Ohio and Indiana to Vandalia, Ill. It was later lengthened, paved and renamed U.S. 40, but was eclipsed in the 1960s by Interstate 70, a parallel superhighway. Stung by the closure of motels and diners along what for many was their Main Street, dozens of towns turned to festivals and events such as the yard sale – now in its third year – for extra cash. In Dublin, about 40 miles east of Indianapolis, cars lined the road’s grassy edges this week as shoppers scanned tables loaded with children’s clothing, Depression-era glassware, toys and boxes filled with a hodgepodge of old tools, postcards and brass doorknobs. In front of one home, 90-year-old Darlene Darter sat at a card table manning a cash box as her daughter, Soozi Worley, organized merchandise on tables she had set up under a shade tree. Darter, who’s lived in the town of 700 since 1937, recalled U.S. 40’s glory days before Interstate 70 siphoned away much of the traffic in Dublin, which is in a section of U.S. 40 often called Antique Alley. “This used to be a busy place – just filled with cars going along, back and forth. And whenever there’s a wreck on I-70 and the police redirect the traffic, it’s bumper to bumper again,” she said. In Centerville, Ind., 20 miles to the east, the road is lined with quaint brick row houses listed on the National Register of Historic Places that were built in the 1820s and 1830s with connecting archways. The town of 2,400 residents, founded in 1814, also boasts the only surviving original log courthouse from the days of the Northwest Territory.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MORE11 theater productions to see in Southern California this week, Dec. 27-Jan. 2“My daughter cleaned out her closets and said, `Mark it cheap enough so that it doesn’t come back.’ So we’re going to have lots of things for a quarter,” she said. But Stewart, who documents the history of Franklinton – a staging point for American troops during the War of 1812 – hopes bargain-hunters also take away an appreciation of the road’s rich history. The National Road, the first federally financed interstate, helped open the land west of the Appalachians to settlers and commerce. President Thomas Jefferson commissioned it on March 29, 1806, although it took decades to finish. A difficult but passable route through dense woods and across rivers and prairies, it sparked trade with the vast expanse of the nation’s midsection, then called the Northwest Territory, said Bill Withuhn, curator of transportation history at the National Museum of American History in Washington, D.C. “If you’re going to have people go out there and settle the wilderness, you need a commercial artery to connect the settled area with the new frontier. That’s what the road was all about,” he said. last_img

Warriors Wednesday: It’s Alfonzo McKinnie’s world, we’re just living in it

first_imgIf you knew who Alfonzo McKinnie was before the start of Warriors’ training camp, congratulations.Or perhaps I should ask: what has happened in your life to make you watch that much G-League basketball?Either way, there was no way you predicted the kind of impact McKinnie would make in his first season with the Warriors. The Wisconsin-Green Bay product had a huge week for the Dubs — playing an average of 22 minutes over the last three contests, including nine points per game. He’s …last_img

Cornubia development: first 480 houses

first_img13 September 2013Phase 1A of the government’s multi-billion rand Cornubia development north of Durban was launched on Friday, with eThekwini mayor James Nxumalo announcing that 482 housing units were ready for occupation.The units consist of two bedrooms, a lounge, a kitchen and ablution facilities – a far cry from the usual one-bedroom RDP starter homes.Speaking to the media during a tour of the completed houses, Nxumalo said phase 1A had cost close to R100-million for the houses and related infrastructure.He said phase 1B was due to begin before the end of this year. This phase will yield an additional 2 221 housing units at an additional cost of R500-million. The uptake on the business development had reached 80 percent, he said, and construction was under way.Initially a joint venture between the eThekwini Metro Municipality and Tongaat Hulett, the Cornubia development has since been adopted by the Cabinet as a national priority project, bringing all spheres of government in as official partners in the development.Cornubia is a mixed-use, mixed-income, 1 200-hectare development, with 80 hectares earmarked for industrial development and the rest for commercial, housing and other social and public facilities, including schools, creches, clinics, multi-purpose halls, police stations and post offices.It is strategically located between Durban’s wealthier Mt Edgecombe and Umhlanga areas and disadvantaged areas north of the city such as Inanda, Ntuzuma, KwaMashu, Phoenix, Ottawa and Waterloo.Situated some 15 kilometres south of the new King Shaka International Airport, Cornubia will see 23 000 new homes being built over the next 10 years, 15 000 for subsidised housing and the balance for a wide range of affordability levels.“The first 250 people are already allocated houses,” Nxumalo said on Friday. “We expect all new owners to move in by November/December this year – depending on the finalisation of connecting the new housing units to the electrical grid and water reticulation system. We expect these to be completed by October.”eThekwini head of human settlements and infrastructure, Nigel Gumede, said the city’s priority was to resettle people who were currently in transit camps.However, he added: “We want the new owners to treat these housing units as their homes, not as an informal settlement. We will ensure that the right people are allocated houses and monitor compliance. Thereafter, no one is allowed to sublet or sell the housing unit, as it belongs to the government.”Source: read more