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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
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