Latest update August 3rd, 2026 11:39 AM
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- Iran says negotiations with Oman over Strait of Hormuz in final stages
Who will benefit from our oil?
…From the publisher’s desk 
In July 2019, Kaieteur News conducted an extensive review of 130 oil contracts to better understand the extent to which the Guyana-ExxonMobil deal is fraught with unfair provisions. The findings were alarming.
On a daily basis, Kaieteur News will expose these alarming provisions. Today, we start with the provision that speaks to the payment of income taxes.
According to the Stabroek Block deal, the government is paying the contractor’s income taxes out of the country’s paltry share of the profits. However, none of the 130 contracts examined by this newspaper shows any similar lopsided arrangement.
The International Monetary Fund had advised the State on several occasions that if the country is to pay the income taxes of the company, it is only fair that the nation’s share of the pie be increased to compensate for that arrangement. This continues to be ignored.
With such unfair provisions, we ask: Who really stands to benefit from Guyana’s oil wealth?
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