Latest update January 24th, 2025 6:10 AM
Latest News
- VP Jagdeo exposed on Gas-to-Energy project
- $350B in loans to fund 2025 budget-Jagdeo
- Judge blocks Trump’s ‘blatantly unconstitutional’ executive order that aims to end birthright citizenship
- UK Company installs monitoring system on four drill rigs in Guyana
- Former K/NEWS sports journalist loses home in Kitty fire
Engage Exxon on better fiscal terms ahead of granting permit for 7th oil project- PNC
Kaieteur News- The People’s National Congress Reform (PNCR) is of the view the Government of Guyana should engage ExxonMobil Guyana Limited on better fiscal terms for Guyanese ahead of granting the permit for the 7th oil project – Hammerhead.
Advisor to the party on oil and gas Elson Low said the party always held the position that it is critical for the government to have discussions with ExxonMobil to derive additional benefits for the people of Guyana.
Low was asked by Kaieteur News whether his party believes that more benefits ought to be obtained before the approval of the project.
“It doesn’t have to be at the instance of the granting of an additional permit, it could be in the near future. It could be that the government engages with consultants, and with legal representation to have that discussion and prepare itself. Rather, we have not seen any movement on that front,” Low said.
Advisor to the PNCR on Oil and Gas, Elson Low (Engage Exxon on better fiscal terms)
The PNCR representative recalled that the Peoples Progressive Party Civic (PPPC) while in opposition had promised to renegotiate the contract. However, that position has since changed now that the party is in government. Low called on the government to use the request for licence as an opportunity to have discussions with ExxonMobil.
“However, that is not going to happen under the PPP, they have no interest engaging the company in any particular sphere and so sadly, the opportunities will pass by, without any discussions whatsoever. There can be a wide range of discussions that could be had but they don’t intend to carry out any discussions at all,” Low stressed.
Asked whether the opposition intends to force the government’s hands to have discussions with the U.S. oil giant, Low said his party has been speaking on the matter for years and nothing has changed.
“So, whether or not we speak to them again in a different format they are not going to engage the operator. Ultimately, if you have a government that says when it’s in opposition it will renegotiate and then when it gets into government does not even speak to the operator to engage them in anyway regarding the Guyanese…all that means is that, that was a flat out lie by the PPP and that we have to understand that, that is what it is, a lie,” Low reasoned.
Low posited that it is “really important” that studies are carried out to determine the impact of the projects. “It’s just that we believe that there needs to be appropriate systems in place when it comes to the approving of additional licenses,” the PNCR official said.
On November 10, Kaieteur News reported that the Government of Guyana is unable to say whether the country will obtain improved fiscal benefits from the seventh oil project – Hammerhead, until ExxonMobil makes a full submission about the project and that submission is reviewed by the government.
Vice President Bharrat Jagdeo at a recent news conference told reporters that “right now, we are not considering that.”
Jagdeo was asked by Kaieteur News to state whether there will be any improved fiscal benefits to the country should the project and others be approved.
In response, the government’s chief oil spokesperson said, “I don’t want to be premature. We have not received the full application from Exxon and when that application comes in sometime next year, we will review it.” He explained that after a thorough review of Exxon’s submission, he will disclose what the fiscal benefits will be. “So, my position is still the same, we haven’t received an application as yet and we will deal with it at that time.”
(Engage Exxon on better fiscal terms ahead of granting permit for 7th oil project- PNC)
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Berbice and Jagdeo’s legacy
Peeping Tom… Kaieteur News-By any reckoning, Region 6 should have been Guyana’s most prosperous region. It has a... more
OAS Secretary General Election and renewed OAS Consensus
Antiguan Barbudan Ambassador to the United States, Sir Ronald Sanders By Sir Ronald Sanders Kaieteur News- The upcoming election... more
Weekend Cartoon
