Exxon Mobil Corp. agreed to pay more than $300 million to resolve air pollution violations tied to eight chemical plants in Texas and Louisiana, one of a pair of environmental settlements with oil companies announced by the Trump administration on Tuesday. See more here
Everyone is trying to cash in on the oil and gas sector, including scammers who are luring the gullible with offers of lucrative employment in the industry. And the fraudsters are targeting oil giant ExxonMobil, which is scheduled to start pumping oil by 2020. See more here
While the coalition Government remains tight-lipped on its dealings with ExxonMobil, Opposition Leader Bharrat Jagdeo says he plans to verify with United States oil giant about the alleged US$20 million signing bonus. Minister of Finance, Winston Jordan recently told reporters that he was unaware that Government received a signing bonus, but did not deny the…
…Gov’t insists full release of Exxon contract has wide implications MINISTER of Natural Resources, Raphael Trotman said government has been advised by external advisors and lawyers that it should not release the full contract with United States (U.S.) oil giant, Exxon Mobil, noting that a number of extenuating and external issues are being attended to,…
…Petroleum adviser says oil-and-gas policies must transcend election cycles THERE is need for Guyana to enforce legislation, policies and regulations in the emerging oil-and-gas sector that cannot be easily influenced by politicians, presidential adviser on Petroleum Dr Jan Mangal told reporters on Wednesday. Dr Mangal, who has a Doctorate in Offshore Geotechnical Engineering from the…
A recent article in the Guyana Times ‘Minister’s relatives, friends now applying for oil licences, 2017-09-14’ makes reference to Dr Jan Mangal, Petroleum Adviser in the Ministry of the Presidency. The article raises concerns with a type of process used in the award of petroleum leases or blocks, that is the “one-on-one negotiation” or “open…
My term as Petroleum Adviser to President Granger began in March 2017, whereas the re-negotiation of the contract for the Stabroek Block was performed about a year earlier (early part of 2016). I have not negotiated contracts between any oil company and the Co-operative Republic of Guyana. President Granger has been clear that his priority…
Who is the owner of the “proven oil reserves” once the contract is signed between the oil company and the host country? In a typical contract, the “reserves” are monetized and this value is entered on the balance sheet of the Oil Company. The share price of the Company is maintained and traded based on…
