Labbadullaski busy..hehehe..busy preparing for winter foraging for nuts an fruit.

iggs, thanks for starting dis tapic.  me had de same qweschuns too

Great questions. Come in 'Woody.

President Irfaan Ali yesterday announced that while his government is committed to the transparent spending of Guyana’s oil revenue, it cannot at this stage commit to implementing the internationally praised Norway model for a Sovereign Wealth Fund (SWF).

So what model are they following?

Ali also said the PPP:is currently examining several models, including the Kazakhstan model.

This model prioritises the dual purposes of economic stabilisation and savings. Notably while the National Bank of Kazakhstan serves as operational manager for the fund, all major strategic and policy decisions regarding the fund are made by the management council, consisting of the President, Prime Minister and high-ranking ministers, government officials and parliamentarians.

Anil claim that the money is coming from APNU cancelled foreign trips and cancelled foreign hotel expenses.

Who is Labbadulla? Lol? That would mek a good handle name. Lol

Anyway the government take is 2% royalty + 50% profit share. That's what dem boys deposit in the NY account.

Exxon Tek out it's cost. They recouping each month.

Meh went to August school after meh ketch buck crab...but that is what me read in TK column pon Stabroek. Lol!

Exxon recouping cost foh years to come because dem boys didn't do any ring fencing. De cost is exploration, etc, plus operating. Dem cyant tek out more that 75% of de market price of cost in any month.

Dem boys at OGGN gat de formula pon Dem website.

@Former Member posted:

Exxon recouping cost foh years to come because dem boys didn't do any ring fencing. De cost is exploration, etc, plus operating. Dem cyant tek out more that 75% of de market price of cost in any month.

Dem boys at OGGN gat de formula pon Dem website.

Suh yuh sehin' dat Exxon can be recouping "costs" for eternity. Suh is there a possibility that costs exceed de lil aile money we get over the long term?

I mean how do we know if this thing really wukking fuh we over the long term?

US$ Revenue from Oil Sales ,Royalty not in amount.

@Mitwah posted:

President Irfaan Ali yesterday announced that while his government is committed to the transparent spending of Guyana’s oil revenue, it cannot at this stage commit to implementing the internationally praised Norway model for a Sovereign Wealth Fund (SWF).

So what model are they following?

Ali also said the PPP:is currently examining several models, including the Kazakhstan model.

This model prioritises the dual purposes of economic stabilisation and savings. Notably while the National Bank of Kazakhstan serves as operational manager for the fund, all major strategic and policy decisions regarding the fund are made by the management council, consisting of the President, Prime Minister and high-ranking ministers, government officials and parliamentarians.

Thanks Mits. Ignoring the eye raising choice of the Kazak model and the opportunity it gives for teefing, let's assume they use this "fund" for all the handouts and grand "programs" such as gas to shore. I take it then that it is quite possible for the cost of these programs PLUS the repayment of costs to Exxon could possibly result in a deficit.

So bottom line - net net, we are in the same boat as we would have been without oil (with the hope that the country's infrastructure etc. could be improved)

Your thoughts?

@Django posted:

US$ Revenue from Oil Sales ,Royalty not in amount.

thx. Labbadulla is saying that Exxon will be extracting royalties and costs for years to come from these figures. I'm curious as to whether this venture has a chance of being profitable

@Former Member posted:

Suh yuh sehin' dat Exxon can be recouping "costs" for eternity. Suh is there a possibility that costs exceed de lil aile money we get over the long term?

I mean how do we know if this thing really wukking fuh we over the long term?

GUY will get money long term. But as Dem bannas said, they will get far less than what Dem could if abie only work together. Guyana will need nuff, nuff money. De contract short change we. We could have much better contact if PPP/PNC/AFC and civil society negotiable dis contract. There should be no politics on this matter.

Yes, Exxon and dem Chinese partner recouping 'cost' forever. Lol

@cain posted:

Labbadullaski busy..hehehe..busy preparing for winter foraging for nuts an fruit.

Banna, yuh ever see the size of that man Labbadulla? Foraging for nuts and fruit? LMAO. Last time he touch a nut and a fruit he was in the shower.

Ah hear we fren Labbadulla does knack down 2 roti while at he desk marking papers lol

https://www.pwc.com/gy/en/asse...a-2020-21-budget.pdf

https://www.pwc.com/gy/en/libr...onal-budget-2021.pdf

On 12 February 2021, Senior Minister in the Office of the President with responsibility for Finance, the Honourable Dr. Ashni Singh delivered Guyana’s GY$383.1bn (US$1.84bn) national budget in Parliament. The 2021 budget was delivered under the theme “A path to recovery: Economic dynamism and resilience”.

The budget presentation was also done in the context of the following other key macroeconomic indicators:

● Total central Government revenue (excluding Guyana REDD-Plus Investment Fund -GRIF) - GY$257.9bn/US$1.24bn
(2020 - GY$227.4bn/US$1.09bn)
○ Tax revenue - GY$242.1bn/US$1.16bn (2020 - GY$218.3bn/US$1.05bn)
○ Non-tax revenue - GY$15.8bn/US$76m (2020 - GY$9.1bn/US$44m)
● Total expenditure - GY$366.9bn (US$1.76bn)
● Budget deficit - GY$109 bn or 8.7% of GDP (2020 - 9.4%)
● Budget deficit for non financial sector - GY$100.9 bn or 9.8 % of GDP
● Projected Inflation - 0.9%.

Info on Budget.

@Former Member posted:

Yes, Exxon and dem Chinese partner recouping 'cost' forever. Lol

So same question I posed to Mits - is it possible that given the never ending run on "costs" combined with all the of Ratman's grand programs that we are in the red eventually?

And I'm not even touching the subject of whether what they spend on will even be useful. History will say NO, it won't.

Two dhal puri from Three sisters and Shantas. Lol!

@Former Member posted:

thx. Labbadulla is saying that Exxon will be extracting royalties and costs for years to come from these figures. I'm curious as to whether this venture has a chance of being profitable

The Liza Phase 1 development includes a subsea production system and a floating production, storage and offloading (FPSO) vessel designed to produce up to 120,000 barrels of oil per day. Production is expected to begin by 2020, less than five years after discovery of the field. Phase 1 is expected to cost just over $4.4 billion, which includes a lease capitalization cost of approximately $1.2 billion for the FPSO facility, and will develop approximately 450 million barrels of oil.

https://corporate.exxonmobil.c...evelopment-in-Guyana

@Former Member posted:

Thanks Mits. Ignoring the eye raising choice of the Kazak model and the opportunity it gives for teefing, let's assume they use this "fund" for all the handouts and grand "programs" such as gas to shore. I take it then that it is quite possible for the cost of these programs PLUS the repayment of costs to Exxon could possibly result in a deficit.

So bottom line - net net, we are in the same boat as we would have been without oil (with the hope that the country's infrastructure etc. could be improved)

Your thoughts?

This Kazak model would allow them to spend without any caps. Plus they will install one of their cronies at the bank to manage the funds. It seems that they don't believe in saving some for the future generations. Hence, I agree with you that we are in the same boat as we would have been without oil.

@Mitwah posted:

This Kazak model would allow them to spend without any caps. Plus they will install one of their cronies at the bank to manage the funds. It seems that they don't believe in saving some for the future generations. Hence, I agree with you that we are in the same boat as we would have been without oil.

Thx for a straightforward answer. That Labbadulla one dancing around talking about buck crab...lol.

I thought it was just me. So with all this talk of oil nation and Guyana becoming the dubai of the Caribbean, we're still in the shithole. The lilves of the average Guyanese, of ALL races, will remain the same. Just as is the case of Trinidad and Venezuela (geographically closest neighbors).

And all the PPP morons celebrating. SMFH. People just don't get that we need to rise above these 2 parties in their present form.

The PPP have their new leaders and they are worse than the old. It remains to be seen which new, young leaders in the PNC will emerge. The old ones are visionless and on their way out.

^ I hope yuh is not a pretend Guyanese and caught sherriga, buck and bunduri crabs. Otherwise yuh is a mack Guyanese 🤓

dr wood, you mek me hand fall.    wid all you qualifications, me expected some better answers from you

@Former Member posted:

dr wood, you mek me hand fall.    wid all you qualifications, me expected some better answers from you

You think he an Puppet Prez Ali went to the same school?

@cain posted:

You think he an Puppet Prez Ali went to the same school?

Me went to August month school

@Former Member posted:

Me went to August month school

You musta had one on one schooling then, ahhhh that's good.

@Former Member posted:

Thx for a straightforward answer. That Labbadulla one dancing around talking about buck crab...lol.

I thought it was just me. So with all this talk of oil nation and Guyana becoming the dubai of the Caribbean, we're still in the shithole. The lilves of the average Guyanese, of ALL races, will remain the same. Just as is the case of Trinidad and Venezuela (geographically closest neighbors).

And all the PPP morons celebrating. SMFH. People just don't get that we need to rise above these 2 parties in their present form.

The PPP have their new leaders and they are worse than the old. It remains to be seen which new, young leaders in the PNC will emerge. The old ones are visionless and on their way out.

a major factor that should be considered as we try to wrap our heads around how much guyana gains from the project is the danger of a deepwater blowout and major oil spill

exxon is breaking new ground in terms of depth of operation and the new technology employed. some experts warned that exxon is playing for high stakes and risks environmental desaster in the event of a blowout. lives could be lost and ecosystems guyanese rely on for food destroyed

it's not altogether clear who foots the bill for the clean up so whatever revenues we make could well disappear with such an event

experts say the risk it too high for guyana. exxon is not only dangerously deep but oil production is double where it should be at this stage of the project

Traversing a Slippery Slope: Guyana’s Oil Opportunity

Document at this thread ,good read.

@Spugum posted:

a major factor that should be considered as we try to wrap our heads around how much guyana gains from the project is the danger of a deepwater blowout and major oil spill

exxon is breaking new ground in terms of depth of operation and the new technology employed. some experts warned that exxon is playing for high stakes and risks environmental desaster in the event of a blowout. lives could be lost and ecosystems guyanese rely on for food destroyed

it's not altogether clear who foots the bill for the clean up so whatever revenues we make could well disappear with such an event

experts say the risk it too high for guyana. exxon is not only dangerously deep but oil production is double where it should be at this stage of the project

Absolutely. the greatest cost if it ever occurs. Sadly our "leaders" negotiated a bunch of piss poor agreements. One oil spill or blowout, story done, story finish. Then it's blame black man time from the PPP sycophants. These fools simply cannot place country ahead of their Indian race.