Page 9 - LatAmOil Week 45 2022

LatAmOil GUYANA LatAmOil

The Stabroek contract has been criticised as too favourable to ExxonMobil (Image: Ministry of Natural Resources)

At the same time, though, the existing 50:50 President David Granger, a member of the
split in profit-sharing between the government APNU/AFC coalition – for not having forced
of Guyana and its contractors will remain in ExxonMobil and other international oil compa-
place, it said.c“These new terms have doubled nies (IOCs) to accept such changes to the con-
Guyana’s share from 14.5% to 27.5%, plus the tract model earlier. The current administration
newly introduced 10% corporate tax,” it added. – led by President Irfaan Ali, a member of the
The statement also faulted the previous PPP/C coalition – has expressed some reserva-
government – the administration of former tions about the contract signed by ExxonMobil

Jagdeo: Guyana’s new refinery will serve

domestic consumers, not regional market

GUYANESE Vice President Bharrat Jagdeo
emphasised at the weekend that the government
had asked potential investors to submit offers for
financing and building an oil refinery to meet
the needs of the domestic fuel market and not
because Georgetown had an eye on regional fuel
markets.
The government issued the request for pro-
posals (RFP), which envisions the construction
of a 30,000 barrel per day (bpd) plant, primarily
with the goals of energy security in mind, Jagdeo Vice President Bharrat Jagdeo (Photo: DPI.gov.gy)
said. Guyana is responding to recent geopoliti-
cal events, such as the Russia-Ukraine conflict, to world events that might disrupt petroleum
that serve to highlight the great importance of product shipments. “This is for national security
energy sovereignty, he stressed. purposes,” he said. “To have energy security at
With an oil-processing plant in place, he said, home, where we don’t run out of gas or diesel or
the country will be significantly less vulnerable anything like that, we are pursuing this refinery.”

Week 44 09•November•2022 www. NEWSBASE .com P9