The Production Sharing Agreement (PSA) that Guyana has with ExxonMobil is fraught with opportunities for abuse. In fact, these very loopholes could result in a significant dent in the revenue Guyana is supposed to get from the oil find by the operator.
This was noted by the International Monetary Fund (IMF) in a report that it prepared on Guyana’s looming oil sector. Given its findings, the IMF recommended that Guyana hastens move to revise the current framework of its PSA.