EMGL

Paying 2 Percent from its Profit, EMGL Robs Guyana of its Correct Royalty Amount

News EditorMarch 3, 2024March 6, 2024010 mins

It has been reported that Guyana receives 52 percent of oil profits from ExxonMobil Guyana Limited (EMGL) oil extraction operations. Given that Guyana is not a shareholder in EMGL, this is overly generous of a company that is expected to minimize cost and maximize profits for its shareholders. In fact, nowhere in the Production Sharing…

Gov’t cannot be making excuses about deferring oil returns to some future date

News EditorFebruary 4, 2024February 5, 202408 mins

Equity ownership in a business implies that an investor becomes a shareholder; and therefore, has access to complete information; has decision-making authority that is based on the relative size of the funds invested; and receives a share of the total profits, calculated on the shareholder’s ownership of the total invested funds. In the case of…

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GPL will be paying up to US$50m to Qatari contractor for power ship that will sail off in two years

Government should take over Hess’ share

Gov’t’s proposed oil spill legislation is a pathetic betrayal of Guyana, taking precedence over Justice Kissoon’s decision to the satisfaction of Exxon

No other current issue of greater import I can think of other than Jagdeo’s attack on the country’s judiciary and the troubling silence emanating since

Oil Talk with OGGN Guyana Episode #25: Our oil keeps the world moving but we can’t keep our lights on