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Govt. must now say what % oil profits Guyana is receiving as Exxon confirms full investment recovered – Opposition Leader
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Kaieteur News
must now say what % oil profits Guyana is receiving as Exxon confirms full investment recovered – Opposition LeaderBy Davina Bagot(Kaieteur News) – The Government of Guyana (GoG) must inform the nation what percent of oil revenue will now flow into the Natural Resource Fund (NRF) now that ExxonMobil has recovered all of its investments in Guyana.
On Friday, Kaieteur News reported that the operator confirmed US$55B in costs have been paid off using Guyana’s oil.
Now that the oil companies have recovered its investments, Guyana is now expected to enjoy 50% of the oil produced in the Stabroek Block, after operational expenses are met.
In an invited comment, he told this newspaper, “ExxonMobil’s confirmation that it has recovered its investment in Guyana reinforces what I highlighted weeks ago.
Mohamed also stressed that there must be a clear indication of what additional costs will still be paid for using Guyana’s oil.