Close Menu
DemocracyGuyana.comDemocracyGuyana.com

    Subscribe to Updates

    Get the latest news from DemocracyGuyana.com

    What's Hot

    Dr. Bharrat Jagdeo: Azruddin Mohamed Protects His Sister and Brother-in-Law, While Ordinary Guyanese Associated with This Accused Criminal Endure Sanctions Fallout. The first sign is that all local Guyana banks are closing the bank accounts of those connected to Azruddin Mohamed. According to a credible media report, the USA is processing extradition papers to bring Nazar and Azruddin Mohamed to face multiple criminal charges. The end is near for the father and son. Win party will be dead meat soon.

    August 2, 2025

    The Consitution of Guyana guarantees the right to freedom of association, among other fundamental liberties. However, a through reading reveals that these rights are not absolute. They are subject to reasonable restrictions- particularly when their exercise threatens the rights and freedoms of others.

    August 2, 2025

    Team Mohamed has demonstrated a troubling willingness to jeopardize the livelihoods and careers of over 3,000 Guyanese employees in defense of a small group misled by his dengerously false narrative-that he is an OFAC- Sanctioned individual. By trivializing the severity and legal consequences of such a designation, he exposes these individuals to signioficant reputational and regulatory risks.

    August 2, 2025
    Facebook X (Twitter) Instagram
    • About DG
    • Join as Volunteers
    • Become a Member
    Facebook X (Twitter) Instagram YouTube TikTok
    DemocracyGuyana.comDemocracyGuyana.com
    Jet Global Airways
    • Home
    • Diaspora
    • Guyana News
    • Global News
    • Artificial Intelligence
    • Business Opportunities
    • Advertise with us
    • Photo Gallery
    • Videos
    • World Newspapers
    • Contact Us
    DemocracyGuyana.comDemocracyGuyana.com
    Home»Featured»Is this not a case of ‘red herring,’ Dr. Hunte?
    Featured

    Is this not a case of ‘red herring,’ Dr. Hunte?

    Joel BhagwandinBy Joel BhagwandinNo Comments4 Mins Read437 Views
    Facebook Twitter Pinterest LinkedIn Telegram Tumblr Email
    Joel Bhagwandin
    Share
    Facebook Twitter LinkedIn Pinterest Email

    REFERENCE is made to Dr. C.K Hunte’s letter in the Stabroek News edition of June 21, 2024, with the caption: “Bhagwandin misleads when he suggests that the NRF Report has disaggregated data for the EMGL, Hess and CNOOC.”

    Dr. Hunte contends that my answer is the usual “red herring,” in which I once again attempted to divert attention away from the real issues he raised in his letter (s) on the “shortage of royalty.” He goes on to argue that the data in the Natural Resources Fund NRF) report is not disaggregated for ExxonMobil Guyana (EMGL), HESS and CNOOC.

    The term “red herring” means to “divert attention away from the real problem; misleading”. The problem at hand is that there is no problem. There is no diversion of attention; I am simply trying to help readers and Dr. Hunte to understand how to properly reconcile and analyse the publicly available data on the oil and gas sector. It’s very simple. But Dr Hunte seems fiercely determined to complicate simple matters.

    It would be remiss of me to not highlight that the issue of disaggregated data that is absent in the NRF report, according to Dr Hunte, is an issue that he failed to raise in his previous letters.
    If the readers were to revisit his original letter in the Stabroek News edition of June 12, 2024, and his subsequent letter published in the Stabroek News edition of June 16, 2024, readers would find that on both occasions, Dr. Hunte’s concerns were premised on the aggregated data.

    At no point did he illustrate in his “tables” disaggregation of the production data and revenues. So, who is diverting attention now by introducing a new dimension to the argument after I would have fully addressed his original concerns? Is this not a case of “red herring”? Dr. Hunte?
    Furthermore, the absence of disaggregated data in the NRF report is totally irrelevant and inconsequential. The reason for this, again, is very simple.

    Pursuant to the Petroleum Agreement (2016), there is only one operator, whereby Article 2.2 (a) of the Petroleum Agreement states that—

    “Esso shall be the Operator charged with conducting the day-to-day activities of the Contractor under this Agreement. No transfer of operatorship to another Party not comprising the Contractor shall take effect unless it has been approved by the Minister which approval shall not be unreasonably withheld. The Minister shall be notified of any change of operatorship to another party comprising the Contractor in writing”. The operator referred to herein is ExxonMobil Guyana.

    Of note, the “Contractor” comprises EMGL, HESS and CNOOC (HESS and CNOOC being the Co-Venture partners). And as far as I am aware, there has been no change in operatorship among the parties that comprise the Contractor. Accordingly, for the reason stated above, there is no disaggregation of production data, revenue, royalty, and profit oil as per the NRF report. It is one operator.
    With respect to the preparation of the financial statements, however, each party has to prepare their own financial statements in accordance with the joint-ownership structure of the operations. In other words, it is not a case where HESS, CNOOC and EMGL are operating their own FPSOs—in which case—each company would have been subjected to individual reporting. But this is not the case; one company is the operator—and therefore one company is responsible for all reporting in an aggregated format.

    Finally, with regard to the report that Dr. Hunte would like for me to prepare, that too is not necessary. The NRF report contains sufficient information for the public consumption, and in fact contains far greater details than those highlighted in Dr. Hunte’s “table”.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Joel Bhagwandin
    Joel Bhagwandin

    Related Posts

    Dr. Bharrat Jagdeo: Azruddin Mohamed Protects His Sister and Brother-in-Law, While Ordinary Guyanese Associated with This Accused Criminal Endure Sanctions Fallout. The first sign is that all local Guyana banks are closing the bank accounts of those connected to Azruddin Mohamed. According to a credible media report, the USA is processing extradition papers to bring Nazar and Azruddin Mohamed to face multiple criminal charges. The end is near for the father and son. Win party will be dead meat soon.

    The Consitution of Guyana guarantees the right to freedom of association, among other fundamental liberties. However, a through reading reveals that these rights are not absolute. They are subject to reasonable restrictions- particularly when their exercise threatens the rights and freedoms of others.

    Team Mohamed has demonstrated a troubling willingness to jeopardize the livelihoods and careers of over 3,000 Guyanese employees in defense of a small group misled by his dengerously false narrative-that he is an OFAC- Sanctioned individual. By trivializing the severity and legal consequences of such a designation, he exposes these individuals to signioficant reputational and regulatory risks.

    A Word of Caution to Young Professionals

    In the homestretch of elections 2025, the PPP stares at a landslide victory

    Weaponizing 0.019% of votes to rewrite history? That’s not legal reasoning-it’s political theatre.

    Leave A Reply Cancel Reply

    Top Posts

    What do you make of it? by Leonard Craig

    November 18, 2024744K Views

    President Irfaan Ali Emphasises Discipline and Accountability Over Project Delays

    November 13, 2024566K Views

    The Hollow Ambitions of Nigel Hughes: A Political Opportunist and Exhibitionist with Empty Promises.

    July 11, 2024100K Views
    Don't Miss

    Dr. Bharrat Jagdeo: Azruddin Mohamed Protects His Sister and Brother-in-Law, While Ordinary Guyanese Associated with This Accused Criminal Endure Sanctions Fallout. The first sign is that all local Guyana banks are closing the bank accounts of those connected to Azruddin Mohamed. According to a credible media report, the USA is processing extradition papers to bring Nazar and Azruddin Mohamed to face multiple criminal charges. The end is near for the father and son. Win party will be dead meat soon.

    In a sharp critique of the political strategy within the We Invest in Nationhood (WIN)…

    The Consitution of Guyana guarantees the right to freedom of association, among other fundamental liberties. However, a through reading reveals that these rights are not absolute. They are subject to reasonable restrictions- particularly when their exercise threatens the rights and freedoms of others.

    August 2, 2025

    Team Mohamed has demonstrated a troubling willingness to jeopardize the livelihoods and careers of over 3,000 Guyanese employees in defense of a small group misled by his dengerously false narrative-that he is an OFAC- Sanctioned individual. By trivializing the severity and legal consequences of such a designation, he exposes these individuals to signioficant reputational and regulatory risks.

    August 2, 2025

    A Word of Caution to Young Professionals

    July 31, 2025
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    72

    Over 50 poisoned at wedding in Iraq

    8.9

    EAM Jaishankar Meets Guyanese PM Mark Phillips, Discuss Energy, Disaster Resilience And Defence Cooperation

    Most Popular

    What do you make of it? by Leonard Craig

    November 18, 2024744K Views

    President Irfaan Ali Emphasises Discipline and Accountability Over Project Delays

    November 13, 2024566K Views

    The Hollow Ambitions of Nigel Hughes: A Political Opportunist and Exhibitionist with Empty Promises.

    July 11, 2024100K Views
    Our Picks

    Dr. Bharrat Jagdeo: Azruddin Mohamed Protects His Sister and Brother-in-Law, While Ordinary Guyanese Associated with This Accused Criminal Endure Sanctions Fallout. The first sign is that all local Guyana banks are closing the bank accounts of those connected to Azruddin Mohamed. According to a credible media report, the USA is processing extradition papers to bring Nazar and Azruddin Mohamed to face multiple criminal charges. The end is near for the father and son. Win party will be dead meat soon.

    August 2, 2025

    The Consitution of Guyana guarantees the right to freedom of association, among other fundamental liberties. However, a through reading reveals that these rights are not absolute. They are subject to reasonable restrictions- particularly when their exercise threatens the rights and freedoms of others.

    August 2, 2025

    Team Mohamed has demonstrated a troubling willingness to jeopardize the livelihoods and careers of over 3,000 Guyanese employees in defense of a small group misled by his dengerously false narrative-that he is an OFAC- Sanctioned individual. By trivializing the severity and legal consequences of such a designation, he exposes these individuals to signioficant reputational and regulatory risks.

    August 2, 2025
    Popular Categories
    • Global News
    • Election Rigging
    • Sports
    • Special News
    Do you want to associate with us
    • Business Opportunities
    • Advertise with us
    • Contact Us
    • www.democracyguyana.com Guyana – London – India

      For more information, contact us.
    DemocracyGuyana.com
    Facebook X (Twitter) Instagram YouTube TikTok
    • Home
    • About DG
    • Become a Member
    • Join as Volunteers
    • Forum
    • Advertise with us
    DG BRANCHES: GUYANA, USA, CANADA, UK, CARIBBEAN, AND INDIA
    © 2025 DemocracyGuyana.com.

    Type above and press Enter to search. Press Esc to cancel.