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Exxon’s Real Share – Clarification Sought

Aug 15, 2022 Letters

Dear Editor,

I have been looking at the numbers published on Guyana’s PSA with Exxon and have come up with the following assessment, which shows that Guyana in fact gets only 14.5 percent of total revenue, while Exxon gets 85.5 percent. This is rather curious.  Stakeholders are encouraged to clarify for the sake of public consumption and appreciation.

Best Regards,
Craig Sylvester

 

Distribution of Revenues Between Guyana, Exxon Based on Existing Contract
Percent US$
REVENUE (US$100) 100.00% 100
Royalty 2.0% 2.0
Cost 75.0% 75.0
Profit 25.0% 25.0
Govt Share 50% 12.5% 12.5
Exxon Share 50% 12.5% 12.5
Govt Revenue
Royalty 2% 2.0% 2.0
Profit 12.5% 12.5% 12.5
Total without Exxon’s Income Taxes 14.5% 14.5
Exxon Taxes Income 3.4% 3.4
Govt Revenue With Exxon Inc. Tax 17.9% 17.9
Exxon retains
Costs 75% 75.0% 75.0
Profit 12.5% 12.5% 12.5
less royalty 2% -2.0% -2.0
Assumes Exxon Pays no Income Tax 85.5% 85.5
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