WEDNESDAY 15th MARCH, 2023
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No. 107021
Guyana stands to benefit more from oil — gov’t releases draft model petroleum agreements for public consultation before finalisation
THE government on Tuesday released the draft model petroleum agreements which outline more benefits for Guyana, including a royalty rate increased from two per cent to 10
per cent, corporate tax of 10 per cent and a cap on cost oil of 65 per cent. The agreements will now undergo a 14-day consultation period before finalisation. During this process, members
of the public could send feedback on the drafts to the Minister of Natural Resources at licensinground2022@petroleum. gov.gy with the Permanent Secretary copied at
jmckenzie@nre.gov.gy. The agreements also include better provisions for the signing bonus, relinquishment terms, activities related to the abandonment of the
block, and an increase in the training fee. The new agreements cover fiscal and other terms under which the government will sign on to contractors who are
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awarded blocks, which Guyana will auction. Guyana is auctioning off three deep-water and 11 shallow-water blocks. (See full story on page 3)
Contractors are working aggressively for a March 31 completion of the Eccles Industrial Site Access Road. The project forms part of the connecting road network from Ogle, East Coast Demerara to Diamond, East Bank Demerara. (Office of the President photos)
BOSAI’s safety measures to be examined following recovery of miner’s body — preliminary report to be drafted
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‘Police must act swiftly’
— Minister Manickchand says after student, uncle assault Fort Wellington teacher
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Efforts underway to expose true beauty of ‘Cinderella’ county — tourism authorities assess Essequibo’s current product, service offerings and PG potential for advancement 20
PG Despite mounting condemnation, PNCR, AFC still ‘mum’ on WPA’s inflammatory remarks 15