Opinions

The views expressed here are solely those of the author in their private capacity and do not represent the views of OilNOW.

Exploration

Factors that affect exposure to exploration risk in Guyana’s offshore basin

Bobby Gossai, Jr. -
Most governments go to a lot of effort to distance themselves as much as possible from exploration risk. This can be done through management of block sizes, relinquishment, and ringfencing, discussed in turn below. Block size and configurations Block size...
Opinions

Understanding the effective royalty rate for new petroleum producing countries

Bobby Gossai, Jr. -
The investor’s response to any given tax instrument or regime depends on the interrelations that link each of their profit decisions. For example, it may be supposed that a high royalty rate would cause early abandonment of a field...
Opinions

Evaluating key elements of an oil contract for emerging petroleum economies

Bobby Gossai, Jr. -
Keep in mind, however, that most fiscal systems in the world are moderately regressive. The revenue the governments receive will go up, but Government Take will go down on average. Finally, it is important to remember that the differences...
Opinions

Comparing fiscal systems for Guyana’s hydrocarbons sector

Bobby Gossai, Jr. -
In the universe of oil contracts, two main families of fiscal system exist. The first family includes ‘concessionary’ systems, so-called because the government grants the company the right to take control of the entire process – from exploration to...
Opinions

Dynamic influences on evaluating the fiscal terms of Guyana’s oil contracts

Bobby Gossai, Jr. -
Oil is the world’s number one strategic commodity. It is of vital interest to developed and emerging markets that rely on imported oil and gas. It is also vitally important to exporting nations, many of them among the poorest...
Opinions

Avoid complex contracts – institutional reforms to facilitate Guyana’s growth

Bobby Gossai, Jr. -
A risk associated with complex contracts is that the true market value of the contract may be better understood by the oil companies than by the government. For instance, if oil prices are highly volatile, and there is no...
Opinions

Be patient: Oil does not disappear – Strengthen institutions for Guyana’s growth

Bobby Gossai, Jr. -
The privatisation in an economy can set in motion a vicious circle. Even without corruption, rapid privatisation means that governments receive less than fair market value for the companies they sell-off. While privatisation has highlighted the problem, conflicts over...
Opinions

Outlook for global energy with new suppliers such as Guyana

Bobby Gossai, Jr. -
Demand is weaker, but it is getting better. There are challenges for both demand and supply sides for all oil-producing economies. The Organization of Petroleum Exporting Countries (OPEC) members must stick to compliance. The focus of the peak oil...
Opinions

Issues of privatisation and institutional structures for Guyana’s economic growth

Bobby Gossai, Jr. -
There are further problems with the timing and manner of privatisation. The International Monetary Fund (IMF) once urged as rapid a privatisation as possible. They were worried that so long as resources remained under the control of the government,...
Opinions

Mechanisms for diversion in Guyana’s petroleum industry

Bobby Gossai, Jr. -
There are basically four (sometimes interrelated) mechanisms for “corrupt” privatisations, besides the obvious ones – just giving the resource to one’s cronies, or, having a first-come system in which those already in the field are in a better position...
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