Latest update November 5th, 2026 10:30 AM
Latest News
- High Court to rule on Mohamed’s bail application on Nov. 23rd
- Local Content Act may be amended to force oil firms to unbundle contracts
- Iran crows over midterms as Trump admits war ‘largely’ triggered defeat
- Police arrest Berbice man over ‘Channa bomb’ threats at protest
- Bandit loses tooth during botched robbery
A suggestion for dealing with EXXON negotiations
Dear Editor,
When my letter here is published, I hope it is read by the ministers and president of Guyana. Regarding the money from the oil production, my understanding is that Guyana will get 2% in royalty and 50% of profit. However, that 50% will start (after) EXXON recoups their investment, and Guyana will have to wait very long to start receiving that 50%. It will be better for Guyana to get EXXON to pay the 2% royalty and 10% of the profit, and when EXXON recoups its profit, then, they can give Guyana 40% until they get back their 10% which they will pay from time of production. That arrangement will be good for Guyana, and EXXON will not lose out, because they will reduce the 50% to 40% until they get back their original 10%.
Mohamed Azad
Share this:
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.
Similar Articles
Website Hits
Blunt of the day
Sports
Features/Columnists
Sir. Ronald Sanders
The GHK Lall Column
Weekend Cartoon
