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Most Guyanese want oil sector to be managed by independent experts – survey finds
…Ram cites public’s disapproval of Jagdeo’s ‘supreme’ reign
Kaieteur News – Almost half of the respondents in a new survey, conducted by local law firm, Ram and McRae, have noted their support for Guyana’s burgeoning petroleum sector to be managed by an independent team of experts.
Attorney-at-Law and Chartered Accountant, Christopher Ram (Most Guyanese want oil sector to be managed by independent experts)
This was revealed by Attorney-at-Law and Chartered Accountant, Christopher Ram in his most recent column ‘Every Man, Woman and Child Must Become Oil Minded’ published by Stabroek News on Friday.
The survey, conducted by Ram and McRae, using the Google Forms platform attracted 135 responses from a diverse group of respondents including professionals, academics, students and citizens. It was conducted between September 20 and October 4, 2024.
In highlighting the findings from the survey, Ram told readers of his weekly column that a whopping 49.6% of respondents cited their support for a fully independent Petroleum Commission to manage the sector. This body would comprise the necessary experts to help govern the sector in the best interest of Guyana. Ideally, the commission should include skilled negotiators, lawyers, accountants, engineers, scientists and other technical officers to help regulate, manage, and coordinate all activities in the petroleum industry.
It has often been debated that the claws of politicians should be kept off this sector to ensure corruption is limited.
Presently however, the sector is managed by Vice President Bharrat Jagdeo who is assisted by the Natural Resources Minister, Vickram Bharrat. Bharrat’s duties are limited to the day-to-day operations while it is the VP who presides over policies and decision-making.
According to the survey 44.4% of citizens believe there should be a combination of government and independent oversight. Ram was keen to note, “Only a small minority supported exclusive political control, highlighting the public’s disfavour of the current arrangements under which Vice President Jagdeo reigns supreme to the exclusion of everyone else.”
In August this year, Minister Bharrat during a press conference told reporters that the establishment of a Petroleum Commission now will slow down the oil and gas sector. He was responding to a question from Kaieteur News on the subject when he explained, “The Petroleum Commission will basically be doing what we are doing at the Petroleum Unit at the Ministry of Natural Resources. I don’t think we will be doing anything different from what we are doing now.”
In fact, the minister believes that the commission may even slow down the rapid developments taking place in the industry. “A commission like that might be slower in decision-making than the policymakers making decision with regards to how we advance this sector taking into consideration that we have a limited timeframe and a closing window so we have to look at the advantages and disadvantages of everything,” he noted.
Bharrat however went on to question the role of the Petroleum Commission, highlighting the “efficient” functions carried out by the Ministry’s Petroleum Unit over the last few years. “Haven’t we managed the sector well over the last few years, building out the framework, putting the legislative framework in place too, having a new Petroleum Activities Act, a Local Content Legislation, having a new PSA in place, having improvements in production licenses and environmental permits and putting all of the monitoring capabilities in place, I don’t see a commission doing anything different from what the petroleum unit is doing at the Ministry of Natural Resources,” the minister reasoned.
Although the government may not be looking to establish the Petroleum Commission at this time, Bharrat said the body is likely to materialise in the future. As such, he made it clear that the same individuals hired to work in the ministry’s Petroleum Unit will be appointed to the Commission. “It’s these same gentlemen and ladies who you see here managing the unit will be on the Petroleum Commission because we can’t throw them away and bring a set of new staff and say you go, we will staff a commission with these people,” Bharrat noted. He said those individuals that have been hired are already experienced and qualified.
(Most Guyanese want oil sector to be managed by independent experts)
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