Dr Clive Thomas

Introduction My aim has been in recent columns to lay out carefully the economic rationale in support of the proposition that, if Guyana’s coming oil and gas extraction industry is to play a transformative role in its economic development, then the dynamic integration of whatever economic benefits are derived from the industry into other economic sectors is essential.

Introduction In last week’s discussion of Guyana’s proposed local content requirements (LCRs) policy for its coming oil and gas extraction industry, I had introduced three key concepts, which require further elaboration.

Introduction In my New Year’s Day column this year I had indicated there are three policy priorities which seemingly guide government’s preparations for the development of its impending oil and gas-based extraction sector.

Introduction Today’s column concludes discussion on the institutional aspects of Guyana’s preparations for its coming petroleum industry.

Introduction At the conclusion of last week’s column, I had indicated the intention to wrap up in today’s column my discussion concerning the institutional architecture and governance in preparation for Guyana’s coming gas and oil industry.

Introduction Last week’s column advanced the view that Guyana’s membership of the Extractive Industries Transparency Initiative (EITI) is a crucial plank in the institutional governance architecture being designed for managing its impending oil and gas extraction industry.

Introduction Today’s article brings to a conclusion the three-part series of columns that have been reviewing Guyana’s proposed membership of the Extractive Industries Transparency Initiative (EITI).

Today’s column continues the discussion of Guyana’s long declared policy option of seeking membership of the Extractive Industries Transparency Initiative (EITI) as a cornerstone of its approach to governance of the fast approaching time of oil and gas production and export.

Introduction Last Sunday’s column completed my presentation of ten lessons which I have argued the Guyanese authorities can profitably learn from a studied appraisal of worldwide experiences with oil-based sovereign wealth funds (SWFs) over the past six decades.

This week I propose to conclude for the time being, my portrayal of lessons that can be learnt from worldwide experiences with SWFs over the past six decades.

Today’s column continues the presentation of lessons Guyana can learn from global experiences with oil and gas-based SWFs.

Today’s column attempts to draw lessons from global experiences with Sovereign Wealth Funds (SWFs), operating in the oil and natural gas sector.

Following last week’s discussion of Sovereign Wealth Funds (SWF) as a mechanism for avoiding and/or controlling the triad of crises typically associated with booms in oil and gas export revenues, I describe below the Government of Guyana’s declared intention with regards to its own SWF.

Introduction In last week’s column I had advanced the opinion that there were three policy priorities seemingly driving government’s approach to the development of the oil and gas sector.

Introduction There has been a veritable spate of commercial oil and gas discoveries since the 2000s.

From early colonial times, Guyana’s commodity potential has attracted external investments.

Introduction Under Section 31 of the Petroleum Act, official notification was given last month, by ExxonMobil and its partners (Nexen Energy and Hess Corporation), to the Government of Guyana confirming the find (discovery) of commercial quantities of oil and gas in the Stabroek Block.

Introduction Today’s column concludes the discussion on fiscal break-even prices for crude oil, introduced three weeks ago on November 13.

Introduction      Today’s column furthers the discussion of the fiscal break-even price for crude oil.

Introduction In this ongoing series discussion of Guyana’s prospect during its coming time of oil and gas production and export (that is circa 2025), I had introduced in last week’s column the notion of the break-even price.