Latest update April 6th, 2025 6:33 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

It may not be too late for Govt. to revisit its approach to the sale of first oil

Dec 17, 2019 Letters

DEAR EDITOR,

I am no expert when it comes to oil but after reading in the media about the manner in which the sale of our first crude is about to be executed, I am reminded of a popular Shakesparean verse, ‘something is rotten in the State of Denmark.’
Notwithstanding, the explanation provided by the Department of Energy in justification of the face to face bidding method involving a select group of contractors, I respectfully submit that such an arrangement lacks transparency and has the all the elements of political involvement in the sale of what is referred to as our ‘black gold’.
I believe we are off to a bad start which could send out the wrong signals to those who are desirous of doing business with us.
A better arrangement, in my view, is to go initially with the prices obtained by ExxonMobil for its share of crude and then use that as the benchmark for subsequent sales, having regard to best practices based on industry standards.
At the very least, it would erase preceptions of political involvement and engender higher levels of trust and integrity in the entire process.
It may not be too late for the Government to revisit the approach it is pursuing in the sale of our first oil.

Hydar Ally

Similar Articles

The Glenn Lall Show|| April, 4th, 2025

Follow on Tik Tok @Glennlall

 

THE BLUNT OF THE DAY

Sports

GCA, East Coast surge to huge wins 

GCA, East Coast surge to huge wins 

Apr 06, 2025

DCB Under 19 Inter-Association 50-Over tournament…  Kaieteur Sports-  Action in the Demerara Cricket Board (DCB) U19 Inter-Association 50-Over tournament saw Georgetown Cricket Association (GCA)...
Read More
GFF/Concacaf kick off two-day Match Commissioners Workshop to boost football operations in Guyana

GFF/Concacaf kick off two-day Match Commissioners...

Apr 06, 2025

Chase’s Academic outclass Bartica to move closer to 2025 title

Chase’s Academic outclass Bartica to move...

Apr 06, 2025

Three Miles Secondary make clean sweep of Jagan Windball cricket titles

Three Miles Secondary make clean sweep of Jagan...

Apr 06, 2025

National Chess champions off to Trinidad and Tobago

National Chess champions off to Trinidad and...

Apr 06, 2025

‘One Guyana’ 3×3 Quest tips off today

‘One Guyana’ 3×3 Quest tips off today

Apr 05, 2025

Features/Columnists

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]