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…
“Maduro had in his possession, several volumes of documents, containing information on the 2016 ExxonMobil PSA and the various reports by citizens claiming that ExxonMobil is robbing Guyana of its oil and gas resources”, says AG Nandlall (SN Letters, Dec 17th). I don’t understand how Maduro can use these mostly [news-clippings] to pressure ExxonMobil to…
President Irfaan Ali ring-fencing is an important concern that has engaged the attention of the Guyanese people; but Guyanese policymakers do not want to take any action to establish ring-fencing in each of the oil projects that are currently extracting and exporting oil from Guyana. When there is no ring-fencing, the people of Guyana are…
It has been eight years since large oil reserves were discovered off the shores of Guyana, but the nation has only reaped a measly 14.5% of total oil revenues since oil production or more accurately oil extraction started in 2019. The remaining 85.5% have been captured by foreign oil companies. In fact, the Stabroek Block…
By Stabroek News July 1, 2022 Dear Editor, Recently, I read a report prepared by SPHEREX Analytics, an accounting firm that produced the 2020 and 2021 financial statements for Esso Exploration and Production Guyana Limited (EEPGL). In the report, it is claimed that, ‘… Guyana’s share in profit and royalty is greater than the net…
Every Man, Woman and Child Must Become Oil-Minded (Part 97) – June 17, 2022 It is more than five months since the 96th. column was published on January 22nd. of this year. That column summarised the court action brought by citizen Glenn Lall seeking declarations against the tax provisions contained in the 2016 Petroleum Agreement….
