The billions in revenue that offshore oil fields are set to ... [+] produce are certain to transform Guyana, whose small population of 800,000 is among the poorest in South America. So far, neither the governing APNU-AFC coalition nor the opposition People’s Progressive Party has said that the Stabroek deal should be renegotiated. Guyana’s share is substantially smaller than the government take in comparable oil license deals, according to an analysis by public policy group OpenOil which was commissioned by Global Witness. A 2012 paper by the International Monetary Fund (IMF) showed that a typical take for oil licensing deals is around 65-85%, Global Witness said. The 27-page Global Witness report does not allege that Exxon exerted undue influence.

Source: Forbes February 04, 2020 19:46 UTC