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Guyana’s Oil Windfall Isn’t Fair | Guyana News
Guyana’s oil windfall just got bigger—but don’t celebrate yet. After ExxonMobil recouped its upfront costs, Guyana’s profit share jumped from 12% to nearly 40%, but the core deal remains deeply skewed: a paltry 2% royalty and 50-50 profit oil splits still stand. Worse, that sweet revenue boost is fragile—exploration costs (even failed ones) eat into profits before Guyana sees a dime, and Venezuela’s border dispute could push Exxon to delay drilling, adding more costs. High oil prices help now, but if they drop or costs rise, Guyana’s slice shrinks again. And with the government refusing to…
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