The controversial signature bonus with ExxonMobil was raised at a meeting at its Texas, USA headquarters in April, 2016 by head of the Guyana Geology and Mines Commission (GGMC) Newell Dennison.
This is according to his report on the April 4-5 meeting in Woodlands, Texas, which the government has released following questions about who negotiated the agreement for the US$18 million signing bonus.
Dennison and Manager of the Petroleum Division Christopher Lynch attended the meeting with ExxonMobil subsidiary Esso Exploration and Production Guyana Ltd (EEPGL) for what was described as a technical caucus…..
Signing bonus should have been around US$238M –Tarron Khemraj
Economist Tarron Khemraj says his computations show that Guyana’s signing bonus from ExxonMobil should have been around US$238 million and not the US$18 million paid.
Exxon agreement should have had more benefits for local businesses, private sector says
The Private Sector Commission (PSC) yesterday said much more should have been done to incorporate local content and greater benefits for businesses here in the petroleum agreement between the government and ExxonMobil’s subsidiary.
No gas flaring except for testing, Trotman says
Except for necessary testing, government has assured that there will be no flaring of natural gas found offshore, in keeping with its commitment to developing a “green state,” according to Natural Resources Minister Raphael Trotman.
Renegotiated parking contract is best deal for city now
Councillor Akeem Peter, Chairman of the committee set up to renegotiate the contract for the Georgetown Metered Parking Project, is confident that he and his team have been able to secure the best deal that the city could manage at this time.
Two miners killed by fallen tree
A tree, felled by strong winds, claimed the lives of two men last Friday as they were doing a “wash down” at a mining camp in the Potaro River.