News

Guyana: ‘Shady’ provisions cloud ExxonMobil contract

Guyana’s contract with oil major ExxonMobil is a good one but some of the provisions are “shady” and the signing bonus and royalty were too low, says Dr Tulsi Dyal Singh, a Midland, Texas-based small oil and gas investor who has been involved in various aspects of the industry.

Singh, on Friday, hosted a talk called ‘Get Ready Guyana: You Are An Oil Man’ at Moray House. The talk was based on an article he wrote for the Guyana Annual 2019. Singh, who has been a resident of Midland – which sits over the oil-rich Permian Basin – for over 40 years, has had first-hand experiences of the ‘booms and busts’ of the oil industry.

More

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s