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Tag Archives: Esso Exploration and Production Guyana Limited (EEPGL)

Oil spill insurance pegged at US$600 million “per event” – Jagdeo

The ExxonMobil-controlled consortium that is exploring and producing crude oil in the offshore Stabroek Block has agreed to take out a US$600 million insurance “per event” to cater for any oil spill clean-up, even as talks continue for a US$2 billion parent company guarantee, Vice President Bharrat Jagdeo said Wednesday. He told a news conference that consortium named Esso Exploration ...

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ExxonMobil faces increased fine for flaring

The ExxonMobil-led Esso Exploration and Production Guyana Limited (EEPGL) will have to be pay a higher fine of US$50 per tonne of carbon monoxide, up from US$30, if it breaches the flaring rules under its Environmental Protection Agency’s (EPA)-renewed five-year permit for the Liza 1 project in the Stabroek Block.  “The permit also goes further to require the Permit Holder ...

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Guyana fast-tracked negotiations to prevent ExxonMobil-controlled consortium’s pull-out over Venezuela’s threat -PM

Prime Minister Moses Nagamootoo Tuesday night condemned a Global Witness report that concludes that the 2016 ExxonMobil deal amounts to a US$55 billion giveaway, instead saying that government fast-tracked negotiations to prevent the company from pulling out due to Venezuela’s claim. Nagamootoo criticised Global Witness’ call for a suspension of oil production to pave the way for renegotiation of the ...

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As global anti-corruption watchdog calls for renegotiation of oil contract, independent probe believes ExxonMobil likely withheld vital information from Guyana gov’t

Even as the United Kingdom-headquartered international natural resource anti-corruption watchdog, Global Witness, calls for a renegotiation of the Stabroek Block agreement with ExxonMobil to secure at least a 69 percent equal share of oil revenue, an independent probe has found that ExxonMobil appeared to have withheld vital information about another oil discovery before signing the controversial 2016 agreement. The UK-headquartered ...

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