In order to capitalize on oil discovery here, the Government of Guyana must renegotiate the current petroleum agreement with ExxonMobil and its affiliates to reflect an increase from a two percent royalty to 10 per cent. This view was shared by Chartered Accountant, Nigel Hinds, who provided Kaieteur News with a detailed breakdown of opportunity…
An international firm will advise the Guyana Government on how to market the country’s remaining unassigned oil blocks, according to Natural Resources Minister Raphael Trotman. “Cabinet has determined that an international firm will be retained to guide and advise that process going forward,” Trotman told Sunday Stabroek. “A short-list of capable firms is being compiled…
Foreign companies often advocate the use of a “stability clause” in the quest for certainty of contractual provisions. This clause seeks to secure the oil contract and benefits therein for the oil operator, against future government action or changes in the law. Stabilization clauses freeze the essential provisions of the contract. Different countries have used…
In order to capitalize on oil discovery here, the Government of Guyana must renegotiate the current petroleum agreement with ExxonMobil and its affiliates to reflect an increase from a two percent royalty to 10 per cent. This view was shared by Chartered Accountant, Nigel Hinds, who provided Kaieteur News with a detailed breakdown of opportunity…
