Does sanctity of contract also apply to Exxon?
President Ali frequently parrots the “sanctity of contract” in discussions of the Stabroek Block Petroleum Agreement (PSA) to convey that Guyana cannot change the contract. Yet the agreement was amended on April 26, 2019, by President Granger, to ensure that the 2% royalty could not be treated as a recoverable cost (see Stabroek News). Thus,…