In keeping with the 2016 PSA, Article 15.4, the published reports by the consortium (EMGL, Chevron and CNOOC) for the period 2020 to 2024 show that Guyana paid from its oil receipts US$5.2 billion in taxes for the consortium (KN https://kaieteurnewsonline.com/2026/04/26/oggn-writes-berkshire-hathaway-inc-on-chevrons-guyana-operations/). Published reports also show that for the period 2020 to 2024, Guyana only received US$6.3…
In a recent KN Article (https://kaieteurnewsonline.com/2026/04/19/exxon-and-partners-profits-soar-to-us29b-in-5-years-while-guyana-received-us5-4b-in-50-50-partnership/), it was pointed out that during the period 2020 to 2024, Guyana’s share of profit oil, which should have amounted to 50 percent of total profit (Article 11.4, 2016 PSA), was far less than expected. In fact, instead of Guyana receiving US$14.5 Billion, Guyana only received US$5.4 Billion, a shortfall of…
Dear Editor, According to a BBC press release, https://www.bbc.co.uk/mediacentre/2026/world-questions-guyana, it was announced that on Tuesday, March 10, BBC World Questions will travel to Guyana to debate the nation’s political and economic future. The discussion will focus heavily on Guyana’s vast oil and gas reserves. Panelists will include Dr. Ashni Singh, Minister of Finance, and Ms. Tabitha…
The 2016 Stabroek PSA allows the operator, ExxonMobil Guyana Ltd. (EMGL) to deduct massive expenses against current production—including costs from unsuccessful exploration elsewhere (due to lack of ring-fencing). Because the contract permits up to 75% of oil produced, on a monthly basis, to be used to pay off these Recoverable Contract Costs, we show below…
The Bank of Guyana (BoG) half-year report (Jan to June 2025, page 81: https://tinyurl.com/bdd829ec) shows that Guyana received a total of US$1.08 Billion as payments for profit oil (US$ 907.94 Million) and Royalty (US$ 169.6 Million). In keeping with the 2016 PSA Contract, it is stipulated that Guyana must receive 2 percent of Total Revenue…
In response to a question from local reporters on oil extraction in Guyana, Stabroek News (US taxpayers not subsidising Exxon’s operations here, October 14, 2025) reported that Mr. Alistair Rout-ledge, President of ExxonMobil Guyana Ltd. (EMGL) Country President, stated at a press conference on October 13, 2025, that “prior to 2023 we were not making…
Recently, the Government of Guyana approved the US$6.8 Billion Hammer-head oil extraction project which is expected to produce 150,000 barrels of oil per day, with first oil projected for 2029 (SN Article: Ram https://www.stabroeknews.com/2025/09/26/ features/the-road-to-first-oil/while-guyana-celebrates-hammerhead-america-investigates/ ). It was reported also that the total commercial quantity of oil to be extracted from Hammerhead is set at 445…
Article 15.4 (a and b) in the 2016 Petroleum Agreement (page 39: https://www.oggn.org/wp-content/uploads/2017/12/Oct2016-Petroleum-Agreement.pdf) has the condition that the Minister agrees that the appropriate portion of the Government’s share of Profit Oil shall be accepted by the Minister as payment in full of assessed taxes by the consortium (EMGL, Hess, CNOOC). This constraining requirement that mandates the government…
In a recent presentation by President Ali, he stated that “…We have seen around us countries that made the mistake of treating oil of treating natural resources revenue as wealth you’ve seen … Trinidad and Tobago Venezuela natural resources revenue is not wealth is revenue to be invested to create wealth… and that is what…
