Cybele Energy Stalls Guyana Oil Deal

Cybele Energy’s offshore oil deal in Guyana is in serious jeopardy after failing to pay a $17 million signing bonus within 30 days—now six months late, accruing $4 million in interest. The government, led by Minister Vickram Bharrat, warns the S7 block could be lost unless payment is made by early June. Despite hiring Guyanese workers and promising partial payments, nothing has materialized, forcing the legal team to intervene. Located near ExxonMobil’s Liza fields, the block holds 400 million barrels of oil and was set to launch drilling within a year under a new agreement offering 10% royalty and 10% tax. With the government eager to maintain momentum in its oil sector, Cybele’s next move could make or break this critical deal. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/30fa27d4e643c3f2