Govt. not keen on ring-fencing 8th project if approved
The Government of Guyana is reluctant to implement ring-fencing provisions for a potential eighth oil project. Such measures would prevent ExxonMobil from using certain costs to offset revenues. Without these protections, the country's share of profits could drop from 39.8% to 12.5%. This stance comes despite warnings from several international organizations. These include the World Bank, IMF, IEEFA, Chatham House, and UNDP.
…ignores warning of World Bank, IMF, IEEFA, Chatham House, UNDP (Kaieteur News) – Although approval of another oil project could see Guyana’s share of profits fall from the current 39.8% to just 12.5%, the Government of Guyana (GoG) remains reluctant to introduce ring-fencing provisions to protect the country’s oil revenues. Ring-fencing would prevent ExxonMobil from using […] The post Govt. not keen on ring-fencing 8th project if approved appeared first on Kaieteur News .