Oil companies always have a long list of demands; one of them being tax holidays. In the case of Guyana, the Government has granted ExxonMobil a premium tax exemption package. According to Article 15 of the Production Sharing Agreement (PSA) with ExxonMobil, “no tax, VAT, excise tax, duty, fee, charge or impost should be levied…
Some nations make the sorry mistake of only fearing the worst and begin preparing for it when oil companies head into production phase. But an oil spill can happen when operators are in their exploratory stage. This was the case of the great Deepwater Horizon oil spill. It was recognized as the worst oil spill…
ExxonMobil’s oil future looks even brighter here as sources say its Ranger 1 Well which is located in the Stabroek Block and where its subsidiary EEPGL began exploration drilling in October shows promise to be better than Liza and the other four wells that have unearthed commercial oil discoveries thus far. “Ranger 1 has carbonate…
