Latest update February 4th, 2025 9:06 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

This contract can and should be renegotiated

Jul 26, 2021 Letters

Dear Editor

I do not see how the crumbs that ExxonMobil is giving Guyana through the ExxonMobil/Guyana oil contract will lift Guyanese who are living in poverty out of poverty as there is no job creation plan. This contract can and should be renegotiated.
What if ExxonMobil says “no renegotiation”?
I do not think that ExxonMobil will go down that route as Guyana can simply hold-off on giving authorisation to future oil development by ExxonMobil. While Guyana may loose about US$400M per year in oil revenues, ExxonMobil shareholders will loose TENS OF BILLIONS IN US$ as its share price will collapse should Guyana put a hold on future oil developments. ExxonMobil will look out for its shareholder’s interest; the Government of Guyana should be looking out for Guyanese interests.
Hence, it is in the best interest for the Government of Guyana to renegotiate (or at least try to renegotiate) this lopsided oil contract so that Guyanese get a better deal.
What about the claimed “sanctity of contracts”?
Such sanctity of contracts can be repeal if it offends our senses as this lopsided oil contract does. ExxonMobil will renegotiate unless it wants its share price to collapse.
The question is what is deemed a “fairly renegotiated oil contract”?

Yours truly,
Sean Ori

Similar Articles

The Glenn Lall Show | January, 27th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

KARCC hails 2025 Guyana-Suriname Group Ride a massive success

KARCC hails 2025 Guyana-Suriname Group Ride a massive success

Feb 04, 2025

Kaieteur Sports- The Kaieteur Attack Racing Cycle Club (KARCC) hosted the 6th edition of its Cross-Country Cycling Group Ride, which commenced last Thursday in front of the Sheriff Medical Centre on...
Read More
Cricket West Indies Launches Bold New Scouting System with Focus on West Indies Championship

Cricket West Indies Launches Bold New Scouting...

Feb 04, 2025

Berbice Educational High CSEC Physical Education Class Visits Nexgen Golf Academy

Berbice Educational High CSEC Physical Education...

Feb 04, 2025

GSL 2025 to take place in July

GSL 2025 to take place in July

Feb 03, 2025

Ken Harvey dominates GBA’s Pepsi/Michael Parris U-16 Tournament

Ken Harvey dominates GBA’s Pepsi/Michael...

Feb 03, 2025

Goal is Money survive scare on Opening Night of Annual Mashramani Street Football Championship

Goal is Money survive scare on Opening Night of...

Feb 03, 2025

Features/Columnists

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]