Very usefull links


News links




Dow Jones

Oil price



Views and News





Guyana's should correct ExxonMobil contract - Nigel Hinds




By Abena Rockcliffe-Campbell

Petroleumworld 02 14 2018

Chartered Accountant Nigel Hinds is pleading, once again, with the Government of Guyana and ExxonMobil to negotiate the “lopsided” Petroleum Sharing Contract (PSA) that they signed in 2016.

Hinds said that along with the many ills of the contract, the APNU+AFC government needs to realise that if it does not fix the contract, other companies will want to take Guyana along the same road. “So we will be leaving ourselves unguarded over and over again.”

Hinds said, “If Chevron or Total finds oil, they would not want an agreement that is too dissimilar from this one (the ExxonMobil agreement.) So we will be shooting ourselves in both feet. That is why it is important that this contract be renegotiated.  That is why I said before that ExxonMobil needs to have compassion.”

Hinds said that ExxonMobil is very aware that it has found a financial paradise in Guyana and as such should not hesitate to give the country a better deal.

He stressed, “Our oil is of top quality; it's a superb find for ExxonMobil and the company is already benefitting.”

Hinds said that Guyanese should listen to the Q4 2017 conference calls of ExxonMobil and Hess Corporation to understand how the oil find offshore Guyana is seen as a highly valued component of their assets and share valuation.

The accountant said that as a result, “I do not see why we should be settling for that which we have accepted.”

Story by Abena Rockcliffe-Campbell from Kaieter News
02 14 2018

We invite all our readers to share with us
their views and comments about this article.
Write to

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to:

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels




Editor & Publisher:Elio Ohep/
Contact Email:

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.