Trump:ExxonMobil,Ratio Oil Israel, Bribe Guyana Government With Payment To Private Bank Account
https://guyanatimesgy.com/ratio-contract-outlines-50-profit-oil-1-royalty-for-guyana/
Ratio contract outlines 50% profit oil, 1% royalty for Guyana
March 1, 2018
New oil contract released
A contract signed between an international oil firm and the Guyana Government has been released, which shows that Guyana has accepted royalty payment of one per cent and a 50/50 profit-sharing arrangement.
The contract which was released on Wednesday is that of Israeli-based oil exploratory firm, Ratio Guyana Limited and Government that was signed on the April 28, 2015.
Ratio Guyana commenced negotiations with the previous Government for a petroleum licence within the ultra-deep water Guyana Basin area in mid-2012. At
Ratio Guyana Limited operates in the Kaieteur Block
the time, that area was known as “Annex B”.
Negotiations were nearly completed when the October 2013 Anadarko/Venezuelan incident occurred. It took until the first quarter of 2015 before negotiations resumed............
Article 15.4 also provides for the Government itself to pay the company’s Income Tax. To facilitate this, the oil company has to submit tax returns to the Government. Article 32 also stipulates that Government cannot modify the contract or increase any fiscal obligation the company has.
In addition to that, information was leaked to the media that Government secretly received US$18 million as a signing bonus from ExxonMobil which was kept in a private account at Central Bank. Since the revelation of this secret signing bonus, the emerging sector has been mired in controversy. Government had failed to disclose this transaction to the nation, despite several officials, including Natural Resources Minister Raphael Trotman, being questioned about it by the media.
Mar 20, 2018 - Guyana's first and major oil deal with ExxonMobil, produces results for ... Bank, the Centre for Global Development, and the governments of ... the counteroffensive against the PPP which had accused it of fraud in the... more ...
Missing: bribe | Must include: bribe
Dec 8, 2017 - ….evidence shows bank account was set up in 2016 to facilitate deposit ... made to theGovernment by United States oil giant ExxonMobil, ...
Missing: bribe | Must include: bribe
Jun 19, 2018 - Guyana just discovered it owns enough oil to solve all its problems — and ... Its unemployment rate stood at 11.8 percent in 2017, according to the World Bank. ... that leaves it with greater inequality, more corruption, and internal strife. ... government in Guyana won the general election, ExxonMobil made ...
Jan 26, 2018 - Guyana and ExxonMobil entered into an agreement in July 2016 ... Worth noting, thegovernment has come under public criticism after ... account with the Bank of Guyana outside of the Consolidated Fund”, to which the money went, was also criticized. .... Petrobras to pay $853M in briberycase settlement.
Mar 19, 2017 - However, the new-found oil wealth of Guyana has heightened ... compensation for oilprojects expropriated by the government of the late Hugo Chávez in 2007 ... Brazil's corruption probe faces post-election test ... Property & Mortgages · Investments · Pensions · Tax · Banking & Savings · Advice & Comment.
Aug 30, 2018 - Three years ago, ExxonMobil discovered oil off the shore of Guyana, which will make ... Venezuela struck oil centuries ago, but in 1998 the government of Hugo ... Equatorial Guinea's also squandered its oil windfall, but through wanton corruption. ... Savings APY Keeps Climbing - Top BanksOffering 1.86% ...
Jun 21, 2018 - An Exxon Mobil-led consortium has begun offshore drilling after ... Others worry aboutcorruption and Guyana's ability to responsibly handle an oil deposit worth ... But critics said thegovernment should have demanded better terms when ...... Insurance & Risk Assessment, InvestmentBanking, IT Operations ...
The Government of Guyana issued the production license for the first development Liza Phase 1 in June 2017 and first oil is expected no later than 2020.
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