Oil revenue speculation could be cleared up if government published projections - Kaieteur News

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Oil revenue speculation could be cleared up if government published projections

Sep 02, 2021 Letters

Dear Editor,

Please allow me to add to the comments of Sherwood Lowe in response to Dr. Tara Singh and the issue of oil revenues. Dr. Singh is either misinformed or misinforming with his claim that next year Guyana may get only $500M in revenues. A simple calculation proves otherwise. The Liza Destiny will likely give Guyana another six lifts and the Liza Unity, if in place by early 2022, could give perhaps 10 lifts as it has a daily production twice that of Destiny of 220k. That would be 16 lifts in all. Being conservative with the price of oil that would be $60 per barrel times 16M barrels for a total US$960M plus the 2% royalty…maybe $150M. That is $1B to add to the $430M that is stuck in a New York bank losing value each day due to world inflation. All of this could be cleared up if the government were to be transparent and publish its projections for revenue for the next five years, that it surely has.

Yours truly.
Lynn Nicholas

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