ExxonMobil Guyana Limited

Guyana has the legal means to deal with law-breaking ExxonMobil Guyana Limited

News EditorApril 14, 2024April 15, 202403 mins

Kaieteur News on 13 April reported, ‘ExxonMobil, EPA a no-show again at Natural Resources Parliamentary meeting’ (https://www.kaieteurnewsonline.com/2024/04/13/exxonmobil-epa-a-no-show-again-at-natural-resources-parliamentary-meeting/). Through your pages, I call on our elected parliamentarians and staff of the National Assembly to use the legal procedures to require both ExxonMobil Guyana Limited (EMGL) and the EPA to obey the law of the land. Standing…

Paying 2 Percent from its Profit, EMGL Robs Guyana of its Correct Royalty Amount

News EditorMarch 3, 2024March 6, 2024010 mins

It has been reported that Guyana receives 52 percent of oil profits from ExxonMobil Guyana Limited (EMGL) oil extraction operations. Given that Guyana is not a shareholder in EMGL, this is overly generous of a company that is expected to minimize cost and maximize profits for its shareholders. In fact, nowhere in the Production Sharing…

Gov’t cannot be making excuses about deferring oil returns to some future date

News EditorFebruary 4, 2024February 5, 202408 mins

Equity ownership in a business implies that an investor becomes a shareholder; and therefore, has access to complete information; has decision-making authority that is based on the relative size of the funds invested; and receives a share of the total profits, calculated on the shareholder’s ownership of the total invested funds. In the case of…