November 29, 2020 Read More →

Transparency advocates call for truth about ExxonMobil-Guyana deal

Kaieteur News:

International lawyer and transparency advocate, Melinda Janki is of the firm conviction that it is high time the government desists from selling the citizenry false dreams and hopes about the oil wealth. Instead, the attorney categorically states that it must inform the citizens of the truth, which is, that the Guyana-ExxonMobil deal is fraught with pitfalls that only funnel billions of dollars in profits into the pockets of ExxonMobil, its partners and their respective shareholders.

Janki was also keen to point out that the government must make every effort to ensure that ExxonMobil and others obey the nation’s rules and regulations, especially those which relate to the protection of the environment. The lawyer expressed these opinions during an interview on Kaieteur Radio’s show, Guyana’s Oil and You. There, she was joined by Tom Sanzillo who serves as Director of Finance at the Institute for Energy Economics and Financial Analysis.

Sanzillo, who unequivocally shared Janki’s sentiments, was also keen to note that based on the lopsided structure of the contract, Guyana will not have enough money for new spending, nor will it have sufficient oil revenues to cover budget deficits and make significant transfers to the Natural Resource Fund. 

[Staff Report]

More: Govt. needs to tell the truth about oil deal pitfalls

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