Petroleum Commission KUWAIT and GUYANA, with KUWAIT, QATAR, DUBAI and RIYADH, Visionary PLAN, TEAM, RESOURCES, FEASABILITIES STUDIES and EXECUTION.

KUWAIT PETROLEUM CORPORATION/COMMISSION

Enjoys OUTSTANDING, REMARKABLE, extraordinarily successful ACHIEVEMENTS,  OUTCOMES & DELIVERABLES for KUWAITIS with its OIL Resources. MANAGEMENT, DEVEOPMENT and EXPANSION by The Kuwait Petroleum Corporation, which is the UMBRELLA ORGANIZATION for ALL (9) NATIONALLY OWNED K-Companies, with fully integrated OIL & GAS Companies, upstream and downstream. The KEY:  The PROFESSIONAL Management of ALL AGENCIES with Transparency, Accountability and Equity.

KUWAIT NEW OPENING of Al-ZOUR REFINERY OPERATIONS

https://kuwaittimes.com/article/14906/kuwait/amir-inaugurates-al-zour-refinery/

PETROLEUM COMMISSION OF GUYANA BILL 2017

BILL No. OF 2017 with 35 Pages 

PETROLEUM COMMISSION OF GUYANA BILL 2017 

ARRANGEMENT OF SECTIONS

Section

1. Short title and commencement.
2. Interpretation.

PART I PRELIMINARY

PART II

PETROLEUM COMMISSION OF GUYANA

3. Establishment and incorporation of the Petroleum Commission of Guyana.
4. Functions of the Commission.
5. Duties of the Commission.
6. Conduct of functions of the Commission.
7. Custody and authentication of the seal of the Commission.
8. Power of the Minister to give directions to the Commission.
9. Directions by the Commission and compliance with directions.

PART III

BOARD OF DIRECTORS OF THE PETROLEUM COMMISSION

10. 10. Board of Directors.
11. Gazetting of appointments.
12. Disqualification from appointment to the Board.
13. Term of office of Board members.
14. Termination of appointment of Board members.
15. Remuneration of Board members.
16. Filling of vacancies on the Board.
17. Committees of the Board.
18. Functions of the Board.
19. Delegation of functions of the Board.

Meetings, proceedings, and related matters of the Board

20. Meetings of the Board.
21. Quorum.
22. Minutes of meetings.
23. Minutes receivable in evidence in legal proceedings.
24. Power to co-opt.
25. Validity of proceedings.
26. Disclosure of interest.
27. Regulation of procedure.
28. Commissioner.
29. Functions of the Commissioner.
30. Tenure of office of the Commissioner.
31. Other officers and staff of the Commission.
32. Service of professionals.
33. Protection from liability.
34. Duty not to disclose information.

PART V FINANCE

35. Funds of the Commission.
36. Duty to operate on sound financial principles.
37. Power to open and operate bank accounts.
38. Estimates.
39. Financial year.
40. Accounts.
41. Audit.
42. Annual report.
43. Investments.
44. Reserve fund.
45. Recovery of monies due to the Commission.
46. Publication.
47. Exemption from taxation.

PART VI MISCELLANEOUS

48. Transfer of assets to the Commission and other transitional provisions.
49. Regulations.
50. Limitation provisions excluded.
51. Penalties. GUYANA

https://nre.gov.gy/wp-content/uploads/2017/04/PETROLEUM-COMMISSION-BILL.pdf

Do know from my BACK CHANNELS to KUWAIT and the Gulf Nations, that THEY are ALL, WILLING, READY and ABLE to offer BEST PRACTICES to GUYANA. 

GHK Lall, CFA: Author, Columnist, Business Executive in the USA & Guyana, and Philanthropist: “Petroleum Commission-be careful.”

KN April 28, 2024: “The calls have been for a NATIONAL Procurement Commission to be in place. It is a JUSTIFIED ONE. As to what kind of justice Guyanese would get out of it, that is another story that they will regret. Not may regret but will regret. I am that certain. The works that men do not live after them. They live with them, define them.”

“I go deeper, this time focusing more keenly on the men and women that could be appointed to a PC if there is the quality of leadership just traced. The foremost consideration is that they be honest and care about personal honor. The next is that they must be of their own mind, where political patronage or leadership debts owed, as interpreted, are of no value, no meaning, and no standing to them. The last is that they must know what they are doing, and to whom their first duty is due. Do we have them in Guyana? A few, definitely; many, highly unlikely”

“To be straight and sharp: how many Guyanese of the caliber that is laid out here have been encountered in those selected to represent the people, be for the people, and only for the people? Guyanese have lost on this score more times than they can count, care to remember. On the formation of, and appointment to, the national PC, the outlook is dim, considering what has happened before. What has been the norm is that the watchdogs themselves must be watched, and despite the people watching (and them knowing it), the outcomes of checks and balances, filters, and screens, have been revelations.”

https://www.kaieteurnewsonline.com/2024/04/28/petroleum-commission-be-careful/

KN Editorial December 29, 2023. “Running from a Petroleum Commission. “

“Before the gush of oil money, many politicians in both major parties have done inexplicably well, and without any consequences. Now that oil money comes in many different forms, politicians position themselves to be the gatekeepers, so that they can possibly collect multimillion dollar tolls. It is why there is so much secrecy, and it also explains the degree of hostility unleashed by politicians when pressed for straight answers on this oil. Though a Petroleum Commission may have its gaps, it would be far better than what any local politician can embody. Resource Curse is already at work in Guyana, with the first ones tarnished being dirty politicians.”

RECOMMENDATION for the GUYANA PETROLEUM COMMISSION, BOARD.

The entire BOARD to be comprised of PROFESSIONAL PERSONS, Educated, Skilled, and Experienced in FINANCE, INVESTMENTS, SECURITIES; BONDS; PENSION FUNDS; ACCOUNTING, AUDITING and MANAGEMENT with 50% from Guyana and 50% from Wall Street, London, Singapore, Oslo, and Australia.

From Guyana, with Due Respect, 10 Excellent Candidates are Dr. Vince Adams, Dr. Sattaur Gafoor, Hemraj Kissoon, Captain Yacoob Mazarally; Lancelot A.F. Atherly, FCCA; Paul Chan A Sue, CCH, FCA; Dr. Yog Mahadeo; Gopnauth Bobby Gossai, Jr.; Komal Samaroo, CCH, FCA; and Clifford Reis, CCH.

Thinking OUT OF THE BOX for “Petroleum Commission of Guyana (PCG)”with a VISIONARY INVESTMENT BANK Facility, with Huge Earnings/Income AS A BANK.

• Time Deposit EARNS around 5%.

• Savings Account EARNS about 2%.

• CAR LOAN PAYS,    12% to 15% Interest 

• Bank Mortgages PAYS 10% to 15% Interest

1. Credit Cards PAY around 20% Interest.

The 10 BEST LONG-TERM INVESTMENTS:

Growth Stocks; Stock Funds; Bond Funds; Dividend Stocks; Value Stocks; Target-date Funds; Real Estate; Small-cap Stocks; Robo-advisor Portfolio; and Roth IRA. BERKSHIRE HATAWAY (BRK) A and B Stocks.

Onward & Upward towards, One People, One Nation, One Destiny.