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Oil Boom & Profit Shift Unveiled | Guyana News
Big oil just got bigger—literally. The Errea Wittu, a floating production beast capable of pumping 250,000 barrels daily, is arriving this week, pushing national output past one million barrels a day and putting us on par with Algeria and Qatar. It’s heading to ExxonMobil’s massive Uaru field in the Stabroek Block, which holds over 800 million barrels. But the real win? Exxon has recouped its costs, flipping the profit split: we now get 40% of net oil revenue instead of a tiny sliver. Meanwhile, political tension flares as the President bypassed constitutional protocol by picking three from…
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