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Which laws allow Guyana to repay Exxon its pre-production costs?

Jan 05, 2021 Letters

Dear Editor,

I read in the media that Guyana owes ExxonMobil over US$1B for pre-contract and pre-production costs as an investor in the oil industry. According to the media, we are supposed to reimburse the company for this investment.
I am a Guyanese businessman who opened a small business and I also had some pre-production costs.
Please let me know and if you do not know, please find out for me which of Guyana’s laws allows the poor people of this country to reimburse a rich company like ExxonMobil, for their investments.
I understand that this investment is tax free but I am required to pay tax for my small business.
Mahendranauth Sayroo

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