Latest / Guyana News Today | 2 Min News | The Daily News Now!
Guyana’s Oil Share Skyrockets | Guyana News
Guyana’s oil windfall just got way bigger—President Ali revealed our share of Stabroek Block profits has surged from 12.5% to nearly 40%, meaning we’re now getting over three times our old cut per barrel. This boost isn’t from renegotiation, but from cost recovery: as companies pay off exploration expenses, more oil becomes profit oil—and Guyana’s slice grows. With global oil prices up 50%, the timing couldn’t be better. But here’s the twist: even with this massive gain, oil firms still walk away richer thanks to steep tax breaks like waived corporation tax and profit remittances. So while…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.