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Historical analysis shows that contagion in financial markets tends to entrench deeper and longer into the physical economy, cutting consumer spending and knocking oil demand hard,” she wrote. If the current troubles infect the entire regional banking system, Brent could go as low as $40.per BARRONS. Barron’s is an American weekly magazine/newspaper published by Dow Jones & Company, a division of News Corp. Founded in 1921 by Clarence W. Barron (1855–1928) as a sister publication to The Wall Street Journal, Barron’s covers U.S. financial information, market developments, and relevant statistics. https://www.barrons.com/amp/articles/oil-price-per-barrel-opec-economy-5b1df0af
Can we imagine what can happen to Guyana with OIL at $40? Many Massive PPPC projects will be stopped? The huge PPPC Debts for massive new Billion dollars projects which WILL NOT pay for itself in the short term? Will PPP “One Guyana” become Guyana/Sri Lanka # 2? Many dangers are ahead, including the current overborrowing for massive developmental projects with very limited available skills and material resources and NO public disclosures for FEASABILITIES STUDIES with Return on Investment (ROI). Guyana needs to remember the huge pitfalls at Sri Lanka’s, OVERBORROWING for huge projects including Hambantota International Port (China), Wind Power Project (India), and others, then their huge default and riots leading to a USD$2.9 Billion IMF BAILOUT Package with severe continuing sufferings to its population.
Strategic Analysts are factoring in their RISKS analysis, Geo-political, Natural Disasters, European Union and USA advanced arms to Ukraine, Russia tactical nuclear weapons to Belarus and China arms to Russia. Breaking Up With The Buck: Saudi Arabia, Southeast Asian Nations Swipe Left On US Dollar Dependence. As the balance of power between China and the U.S. continues to shift, heads of state across the Globe are making choices to either steer away or get closer to each of the world’s two largest economies. On April 4, 2023, Malaysia’s Prime Minister Dr. Anwar Ibrahim said that China is open to talks on the creation of an Asian Monetary Fund, to gain independence from the U.S.-led International Monetary Fund.
OIL BRENT $85.14 on April 6, 2023. Crude Oil Prices Today | OilPrice.com
PPP is the Government in Guyana for 26 out of the last 31 Years, with the last almost 3 years enjoying USD billions in OIL Revenues, yet 41.2 % Guyanese live in poverty, as reported in Inter Development Bank (IDB) and many Guyanese unable to eat TWO meals daily, whilst the PPPC cabal and their families, friends and favorites are lavishly feasting daily with THREE Meals, High Teas, and Cocktails; driving around in very expensive Range Rovers, Mercedes and Lamborghinis with blaring sirens, in convoys.
The prospect for oil prices will be on the downside rather than the up, says Citi’s Ed Morse, on April 4, 2023.
JPMorgan Chase’s Jamie Dimon thinks the U.S. economy is holding up pretty well, all things considered. But he sees trouble ahead. CEO Jamie Dimon used the “word “crisis” 17 times in his annual letter to shareholders as he mulled a complex world economy that is facing higher interest rates, a war in Ukraine and rising geopolitical tensions.” April 4, 2023
Billionaire Leon Cooperman, CEO of Omega Advisors Warns of More Economic Turbulence “We’re in a turbulent economic environment right now, and the headwinds are piling together, putting up an ominous cloud on the financial horizon. “April 4, 2023
US manufacturing activity reportedly slumped during March to its lowest level in the past three years and China’s weak manufacturing activity in March are both worrying concerns for oil demand and lower prices.”
OPEC, The Organisation of the Petroleum Exporting Countries
OPEC was founded in Baghdad, Iraq, with the signing of an agreement in September 1960 by five countries namely Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. They are the Founder Members of the Organization. They were to become the Founder Members of the Organization. These 8 countries were later joined by Libya (1962), the United Arab Emirates (1967), Algeria (1969), Nigeria (1971), Gabon (1975), Angola (2007), Equatorial Guinea (2017) and Congo (2018).This means that, currently, the Organization has a total of 13 Member Countries. Qatar was in OPEC and left as its focus is on LNG GAS and Its position as one of the world’s largest LNG exporters now places it in the same league as Saudi Arabia in the international oil market. As Qatar’s LNG capacity expands from 77 million tons per year to 126 tons, its geopolitical significance will continue to rise in tandem.
OPEC Member States and oil production per day
OPEC has 13 member states. They are Nigeria at 2,317,000 bbl./day; Iran at 3,300,000 bbl./day; Algeria at 1.370,000 bbl./day’ Iraq at 4,054,000 bbl/day; Venezuela at 2,500,000 bbl/day; Saudi Arabia at 10,046,000 bbl/day; Angola at 1.842,000 bbl./day; Libya at 404,000 bbl./day; United Arab Emirates at 2,820,000 bbl/day; Kuwait at 2,562,000 bbl./day; Gabon at 213,000 bbl./day, Equatorial Guinea 244,000 bbl./day; and Congo 204,000 bbl./day
Mission Of OPEC
OPEC’s mission is to unify and coordinate the policies of its member states that concern petroleum, to ensure oil markets are stabilized, with the intention of securing efficient, economical, and regular petroleum supply for consumers, a steady income for producers, and a fair return on capital for investors in the industry.
OPEC Administration and Management
The supreme authority of the organization is the OPEC Conference, which comprises delegations headed by the oil ministers of the member states. The secretary general of OPEC is the chief executive. The Conference holds meetings at OPEC’s headquarters in Vienna at least twice each year; extraordinary sessions are also held when necessary. The OPEC operates on principles of unanimity, with each member state having one vote and paying an equal membership fee into the annual budget.
Kuwait Repeatedly Offered to sponsor Guyana to OPEC, with special arrangements, as a NEW Oil Producer with many development needs.
In my monthly reports to Minister of Foreign Affairs and Permanent Secretary, during my 4 years Tenure in Kuwait 2016-2020, the Kuwait Minister of Oil, and Chairman of Kuwait Petroleum, Hon. Dr. Khaled Ali Mohammad Al-Fadhel, repeatedly, offered to sponsor GUYANA, to OPEC Membership with special arrangements, as a NEW OIL Producer, for Guyana’s Development in 5 Areas, Social, Economic, Political, Environmental, and towards One People, One Nation, One Destiny. EXTRACT from repeated Monthly reports to “Guyana Minister of Foreign Affairs and Permanent Secretary, Guyana Minister of Natural Resources, Hon. Raphael Gregory Conwright Trotman, Esq, MP, INVITATION to VISIT, Kuwait Minister of OIL, and Minister of GAS, WATER & ELECTRICITY, and TEAMS for BEST PRACTICES Visit, as soon as possible. KUWAIT is ready, willing, and able to assist Guyana in ALL AREAS needed by Guyana. Ambassador Dr. Shamir, was told to “Reassure the Government of Guyana, that “KUWAIT is a BROTHER & SISTER to GUYANA.”
https://newssourcegy.com/news/breaking-guyana-begins-oil-production/
“Dear excellency ambassador brother Dr. Shamir. Once production starts, I suggest that Guyana joins OPEC.” Your brother Dr. Khaled
“Oil Minister Khaled Al-Fadhel on Sunday confirmed that OPEC and non-OPEC oil producing states had worked out a deal to slash crude output by 10 million barrels per day in May and June. The agreement is historic and the greatest in the oil history, said the minister in a statement to Kuwait Television, affirming that it had been endorsed by the stakeholders in the sector.”
https://www.timeskuwait.com/news/kuwait-oil-minister-confirms-oil-opec-deal-deems-it-historic/
“Salaams. Duas. Congratulations. Brother Hon. Minister Dr. Khaled.” From Amb. Dr. Shamir
“Thanks, your excellency. I asked you before to encourage your minister. He would’ve been part of history by now.” Kuwait Oil Minister Dr. Khaled Al-Fadhel.
“Salaams Esteemed Brother Hon. Dr. Khaled. Did ask Ministers. 2nd March 2020 Guyana had General Elections. Results not yet declared. Dispute. Item in High Courts.” Amb. Dr. Shamir
“Dear brother excellency Prof. Dr. Shamir & Dr. Maryann, You’ve done a great job while serving your country in Kuwait. You will definitely be missed. A couple like yourselves set a benchmark for how Ambassadors should be. Thank you for the great company and hope to see you back in Kuwait. It’s very hard to forget a person like your good self and Dr. Maryann. You’ve been wonderful to everyone you’d met.” Kuwait Minister of Oil, and Chairman of Kuwait Petroleum, Hon. Dr. Khaled Ali Mohammad Al-Fadhel.
March 30, 2023, “Dear excellency brother prof. Shamir Happy Ramadhan and may the blessings from Allah be upon you and my sister Maryann… I miss our fruitful chats.”
Esteem. Brother. our Excellency Dr. Khaled. “Ramadan Mubarak Day 8 with Allah’s Bountiful Blessings Forever. Thanks for Your Gracious Sentiments. We do miss You and our Global Chats. We do miss Ruling Families & our Kuwaiti Circles. Allah’s Will Will Be Done. We will meet again. Our continuing Best Wishes. Long Live HH Amir, Ruling Families, Government, Kuwaitis, and Expats. Long Live Kuwait. Long Live Guyana. Allah O Akbar.”
OPEC: R to L. Dr. Shamir, HH Amir of Kuwait and OPEC Secretary General HE Dr Muhammad Sanusi Barkindo, Nigerian politician, a Giant in the OIL & GAS industry; OPEC. Ambassador Dr. Shamir Ally, at one of many Conferences as Special Guest, due to continuing strong personal relationships, which are continuing; and with Kuwait Minister of Oil, Water and Electricity and Chairman of Kuwait Petroleum, Hon. Dr. Khaled Ali Mohammad Al-Fadhel with Ambassador Dr. Shamir Ally.
OPEC: Organisation of the Petroleum Exporting Countries. With regular introductions from Saudi Arabia, Islamic Development Bank and Kuwait, secured, developed, and currently maintaining strong personal relationships with OPEC High Executives and requested their assistance for FREE FEASABILITIES STUDIES, to which they readily agreed. This item was in my monthly reports, around 30 to 40 pages, which was repeated for many months, to the Ministry of Foreign Affairs et al, for a follow up request and the coordination in Guyana. Regrettably, Guyana sent nothing to OPEC or Ambassador in Kuwait.
14th. Islamic Summit and 50th. Anniversary for Organization of Islamic Cooperation (OIC) for HEADS of Nations and Heads of Delegations, on Friday 26 Day of Ramadan, May 31, 2019, on Holy Day Laylat al-Qadr, Mecca, Kingdom of Saudi Arabia. Custodian of the Two Holy Masjids, His Majesty King Salman Abdulaziz Al Saud, warmly greeting Ambassador Dr. Shamir Ally, in Brotherly Love, at Al SAFA Royal Palace. The Summit is titled “Mecca Summit: Together for the Future.”
His Majesty King Salman, His Highness Crown Prince and Minister of Defense, MBS, BOTH, said repeatedly that “They will warmly welcome Guyana as an OPEC member in due course, and on this Most Holy Day Laylat al-Qadr and Eid Mubarak, to Guyana, Insha Allah.”
His Highness Mohammed bin Salman Al Saud, MBS, Crown Prince, and Prime Minister of Saudi Arabia, also serves as the Chairman of the Council of Economic and Development Affairs and Chairman of the Council of Political and Security Affairs. He is considered the de facto ruler of Saudi Arabia, being deemed as such even before his appointment as Prime Minister in 2022. He served as Minister of Defense from 2015 to 2022.
May/June 2019, based on continuing personal relationships, Ambassador Dr. Shamir, asked for Saudi’s assistances for a GIFT of an OIL MONOTORING SYSTEM for Guyana, and discussions were to continue, then my tenure ended and was wheels up from Kuwait on August 10, 2020.
How do you increase your solar energy output when you need all your land for agriculture and for housing? Answer: take to the water. That’s just what they are doing in Japan. The world’s first floating solar plant was built in Japan, in Aichi Prefecture in central Honshu. The country’s many inland lakes and reservoirs are now home to 73 of the world’s 100 largest floating solar plants and account for half of those plants’ 246 megawatts of solar capacity.
https://www.weforum.org/agenda/2019/03/japan-is-the-world-leader-in-floating-solar-power/