Anti-corruption international organisation, Global Witness today called on the PPP/C government to renegotiate the “exploitative oil deal” signed in 2016 with ExxonMobil’s subsidiary, EEPGL.
A statement issued today by Global Witness follows:
London, August 17, 2020 – Global Witness calls on Guyana’s new government to immediately investigate and renegotiate Exxon’s exploitative oil license, ensuring the country has the funds needed to rebuild after divisive elections and a debilitating pandemic.
In February 2020, Global Witness’ exposé Signed Away revealed that Guyana could lose billions of US dollars from a 2016 Exxon oil deal, according to a report by the fiscal analyst firm OpenOil commissioned by Global Witness. The deal, for an offshore license called Stabroek, has bad financial terms thanks to Exxon’s aggressive negotiation tactics with inexperienced Guyanese officials.