Opinions

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

Opinions

Investment, depletion and consumption of Guyana’s oil revenues

Bobby Gossai, Jr. -
Full national considerations are also relevant to a depletion policy of a country’s petroleum resources. Security of oil supplies must be a consideration in Guyana. Possession of crude oil reserves can obviously make a contribution to the solution of...
Opinions

Depletion policy and licencing arrangements for Guyana’s oil reserves

Bobby Gossai, Jr. -
The rate at which Guyana’s Offshore Basin oil reserves will be depleted will clearly be influenced by the licencing arrangements. The basic decisions regarding the frequency and size of licence rounds, the location of blocks on offer, and the...
Opinions

Opportunities for State participation in Guyana’s oil development

Bobby Gossai, Jr. -
The establishment of state oil companies is very common in oil-producing countries. Most petroleum producing countries have incorporated state participation in their licensing regulations and/or legislation. The establishment of a national oil company can be justified on several grounds. ...
Opinions

Attractiveness and productivity to serve the Guyana offshore basin

Bobby Gossai, Jr. -
The pressure to source supplies from Guyana can lead to increased exploration, development and operating costs. Guyana’s offshore oil activity levels will be very sensitive to movements in oil prices and costs. At any one time in a province...
Opinions

Realisable economic rents and local risks for the Guyanese offshore licencing option

Bobby Gossai, Jr. -
The introduction of a contingent system of taxation is not the only possible response to the existence of exploration risk. The state could reduce the perceived risks by financing a programme of geological research. The fruits of this research...
Opinions

Policy considerations for the licencing arrangements of Guyana offshore blocks

Bobby Gossai, Jr. -
To maximize the potential national benefits appropriate licensing, taxation, depletion and pricing policies are required. Given the high degree of geological uncertainty in the early years, some use of the discretionary licensing system to award acreage was appropriate, but...
Opinions

Factors to consider for licencing Guyana offshore oil blocks

Bobby Gossai, Jr. -
Bocks are those where the initial term (normally x years) has expired and there has been no drilling for a period of y years and no dedicated seismic or other significant activity for a period of z years;...
Opinions

Energy-on-energy pricing for a Guyanese spot market

Bobby Gossai, Jr. -
If the oil companies could have fought harder against the subversions of their markets by spot pricing, assume that they would have. Nonetheless, despite their principled objections and huge power, there was nothing they could have done to halt...
Opinions

The development of a Guyanese energy spot market

Bobby Gossai, Jr. -
There is prima facie evidence to suggest that a utility company is characterised by allocative inefficiency in its charging policies. However, improvement depends less on privatisation per se than on the form of the privatised energy industry. This can...
Opinions

Local regionalisation and regulatory framework for Guyana’s future energy market

OilNOW -
Privatisation of the energy industry will only be effective in improving efficiency to the extent that it creates a market in the purchase and sale of energy; in other words, only if the present public sector monopoly can be...
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