Introduction
Last week’s column had addressed the seeming rationale behind the publication of Guyana’s first Report on Petroleum Production and Revenues (RPPR) by the Ministry of Finance on February 19, 2020. That Report basically covers the period between Guyana’s First Oil (December 20, 2019) and the end of 2019 — a matter of days. Nevertheless, the Report is significant in that it provides an indicator of the sorts of information, which can be expected from future Reports. Therefore, while the first Report is limited in coverage, it is still welcome.
As indicated also in last week’s column, the RPPR has been produced to “bridge the informational gap” between the several reports that are required to be prepared, under the Natural Resources Fund Act, (dealing particularly with deposits and withdrawals from the Fund) and the determination/calculation of Government revenues.