Good luck to the government. If ExxonMobil agrees, that would be great. There is precedence in other countries.

An oil refinery will be a good thing for Guyana. This government should have it's eyes set on such a venture rather than looking at roads to nowhere.

The PNC DOGS want to thief the money before it is earned. These THIEVES(Proven for 28 years) and two House Slaves cant wait to build Palaces and have FAT SWiss Account like Burnham.  Burnham bin beat one of dem and leave am ah Albion road to die but NOW he like Burnham!!!!!!!!!

Nehru Bhai

Who is that person ?

Is a Quiz, big money for the first correct answer. Call 718-262-3000.

Is that dial a bottle?

Wrong answer. No money for you.

It would be great if they can get some upfront.  Invest in infrastructure, roads, etc.  Not sure I would go for a refinery so early, rather fund the hydro dam then move to an 80k bpd refinery.

I believe the afc/apnu only interested in filling their pockets. They need money upfront to pay for 50% wage increases which will put the nation's books in deficit to maintain the lifestyles of these new bunch of crooks. They counting their chickens before they hatch. 

Welcome to the world of the PNC.  The AFC just along for the ride!!

Curious why folks think that there are profits to be taxed, when we haven't received definitive word as to when, or even if, Exxon plans to begin production.  Has the gov't even developed a system of royalties and taxes in order for Exxon to calculate what its potential obligations might be?

This is terrible. The PPP squatted on their asses thinking only of stealing without introducing reforms into the constitution. This new group will do exactly like the PPP did and squat on autocratic power. Managing an oil producing nation is the road to great riches of the rulers....no great gains to the people.

Exxon will front load the system because it is part of the hook of our resource curse...we need the cash badly....they have it in abundance. Because we need it, they will shape the terms.

Those in office will most gladly agree to almost every proposal. Peter Maass has a wonderful book on the traps and the schemes and the scams of this industry called "Crude World"

Thanks, Storm. I'll try to get my hands on CRUDE WORLD.

Check PM above.

I did. Thanks.

The very same thing Burnham tried to do many years ago, and the oil companies told him good bye. That is a new style of foreign investment, government taking money UP Front.There is a glut in the oil market, prices will remain low for years, so Exxon don't have to set up a well. Let the PNC keep on dreaming, OIL MONEY, OIL MONEY, MO MONEY. NO MONEY!!!

Cool. It is a book you should read.

I agree. Granger was betting on the oil money and care less about rice and sugar. Now he want oil money up front and put Guyana in hole of debt for decades to come. 

Granger wants to get royalties and license fees up front. Realistic?  No as Exxon hasn't even announced if and when they will drill.

But if Granger continues to pour down money into Guysuco, that is a sure fire way to make Guyana indebted.  If you don't want Guyana indebted then tell Granger to sell Guysuco, so that the losses will be borne by others.

I suggest that you tell the rice industry to cut their foolishness and demand that gov't hands over GRDB to them and to get out of the way.  The rice industry has allowed itself to be used by politicians and is now suffering from the result of its own laziness. 

GRDB (owned and operated by rice farmers and millers) should determine how much they sell rice for, which markets they sell it to, and as a result, how much the rice farmers get paid.

Profits is a matter for Exxon, I assume Guyana will be on a royalty regime.  I'm sure the Trinnis and others will offer advise, for  fee.  However, going hat in hand puts you in a weak position to negotiate.  At this point though, with everything collapsing around them, not sure they have much of a choice.

Quite a turnaround now from the afc/apnu folks. They were braying that ethanol production would save the sugar industry. Now they are depending on oil from Exxon as the savior.

Guyana has to establish a regime to ensure that they get the best deal from Exxon, and incentive to entice them to begin to drill, given how low prices are, and the global oil glut.  They will need further incentives to build a deep water harbor big enough for super tankers, or the oil goes elsewhere for processing.

Granger going to Exxon, expressing his dreams, will look like a fool.  Exxon cares only about profits, and not about Guyana's overall development.  As is it appears as if they plan to move the oil DIRECTLY from the oil rigs to the super tankers.

Go to TK.  I never said a word about ethanol.

I see you are back as Drugged Brain.

Tk is suddenly quiet as well as all those who claimed that they knew how to turn around the sugar industry.

When are you changing back to GuyanaJ? I would expect this as now your Black brothers are back in power. Instead you chose to identify with carib instead of Guyana, a clear indication that you have no confidence in Granger et al.

Listen, with oil in the 40's and likely to remain for a while, I don't see major new upstream anywhere in the world.  This will become worse when interest rate go up.  Companies will pair back and lighten up their balance sheets until they see a sustained upward pressure in prices.

Any hat in hand by Granger will carry a high price.  Exxon will rake them over the coals and in future when oil prices are high, Guyanese will wonder why they don't see the full benefit.  But the PNC sold out Guyana before for lil bacanal time, why will it be different today!

Between the ethanol champion and the sugar in sachet champion, Sugar will have glorious days.  Imagin that, there is a market for 400k tonnes of sachet sugar in the Caribbean and all the big boys, Tate and Lyle, etc missed that.  America must be real happy these bannas on them side.  Obama failed because he never put them to negotiate with the Chinese!