Guyana’s Oil Windfall Gone Wrong

Exxon and partners pocketed $12.5 billion in profits from Guyana’s Stabroek Block last year, while Guyana only received $2.5 billion—blamed on the government’s failure to renegotiate the 2016 deal and poor contract management. Lawyer Christopher Ram is holding Minister Vickram Bharrat accountable, calling out his excuses about differing accounting methods and pointing to Bharrat’s own party’s election promises. Ram highlights that six years in, not a single audit has been completed on company cost recovery, leaving Guyana powerless as oil firms dictate terms. Worse, the current deal drains Guyana’s Natural Resource Fund and forces the country to pay half of future decommissioning costs upfront—leaving the nation financially exposed. 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/64081714a0bef5e3