After a year of pungent criticism about his gross mishandling of Guyana’s right to getting a fair value for its oil reserves,
Raphael “Nassau” Trotman will be handing over that segment of his “Natural Resources” portfolio to a “Department of Energy” within the Ministry of the Presidency. Some may believe it’s some kind of demotion but they couldn’t be more mistaken. This is, as we Guyanese say rather elegantly, “a cock”!
First of all, the Department will not be any kind of autonomous agency or company that most other oil producers insist on, to reduce political meddling and corruption. Ghana, for instance, which isn’t even the strongest player out there, has its Ghana National Petroleum Company (GNPC).
Then “Nassau” will be leading the “Task Force” setting up the Unit!! How more incestuous can you get?? Especially when the other members are Harmon and the tight little circle from the AFC that’s returned to the PNC!
Do you think this group will select the kind of petroleum and financial professionals that’ll do what’s best for Guyana? If you believe that then you’re obviously living in la-la land – or, you’re a true believer!! What you’ll get is a bunch of tightly controlled automatons under the control of the Minister of State.
Note the other divisions of the Ministry of the Presidency – State (Harmon), Citizenship (Felix); Social Cohesion (Norton) are all under high PNC executives. And don’t even mention the agencies!!
But it’s also a way to deflect from the gross negligence (being kind here!!) of Trotman in handling our oil revenues. If he were the head of any private company, he’d be long gone! This is just a tactical gambit to remove “Nassau” Trotman from the line of fire. He’s too much of a lightning rod right now and the Energy Agency will make folks think “something was done”!! Just look at how things unfold in the next few months!
“Nassau’s” well protected by the terms of HIS contract he struck with Granger at Nassau. As an ardent admirer of Burnham, his job will be to maintain the façade of the AFC bringing “multilateral” support to the PNC.
You ask what about Nagamootoo and Ramjattan, dear readers? Have you forgotten “Nassau’s” now the LEADER of the AFC?? Those two worthies are just (toothless) poodles who are used as props to flank Granger in the official Ministry of the Presidency photos! They’re Vice Presidents, you see!
Your Eyewitness has already pointed out the oil contract’s void since “Nassau” Trotman was not in his right mind when he “renegotiated”.
Since we (unfortunately) don’t have the tradition of Hara Kiri, maybe he can redeem himself by confessing!!
…and oil production
Well, Exxon just announced its seventh oil strike – this one in the Pacora field. Some may know that “pakoras” have a thin crust filled with goodies and are scrumptious. This Pacora must be so filled with such scrumptious oil that Exxon is now projecting a production of 500,000 thousand barrels per day!! Imagine that!! Since the one FPSO already commissioned can only process 200,000 bpd, does it mean they’ve placed an order for another two of the monsters that cost US$1 billion each?
But that raises the question: was the government consulted on the new level of production? Apart from a better price split (Ha!!) that’s supposed to be a benefit of a PSA – where the country owns the oil and the oil company’s a contractor – the production level is another tool for the country to control its destiny.
As one expert recently pointed out – and your humble Eyewitness did a year ago – we don’t have the capacity to absorb multibillion cash infusions right now.
Production should therefore be tailored to match our absorptive capacity.
…or plain meanness?
Did the Chronic HAVE to publish COP Persaud’s applications to himself for a licence for a firearms dealership on the day he was being honoured??
Ow, man, that was low!