Introduction
Today’s column addresses three tasks. First, wrapping-up last week’s evaluation of National Budgets [2021/ 2022] as providers of Government of Guyana, GoG, indicators on the condition of Guyana’s oil and gas sector. Second it addresses Item 7 [the International Oil Companies, IOCs; National Oil Companies, NOCs; and Organization of Petroleum Countries, OPEC’s share of global crude oil] in the list of 10 sample markers of the sector’s condition. Thirdly, it treats with Item 8, which is termed by Transparency Institute Guyana Inc, TIGI, as an “original sin” enshrined in Guyana’s ruling Petroleum Sharing Agreement, PSA. These are considered below in the order listed
Natural Resource Fund (NRF)
Information is available on six Items of the country’s NRF; namely, total inflows/ deposits; their two main sources, profit oil and royalties; total outflows/withdrawals; opening balance; and closing balance. The data cover the historical and projected years for the period 2020 to 2025. Additionally, I cite separately reported financial returns on balances held overseas over the period.