Very usefull links


News links




Dow Jones

Oil price



Views and News





Guyana transferred overseas ExxonMobil's signing bonus to earn interest- Finance Minister



By Demerarawaves

Petroleumworld 04 16 2018

The US$18 million ExxonMobil signing bonus, which was  initially deposited in the Bank of Guyana, has been transferred overseas to an interest-bearing account, Finance Minister Winston Jordan said.

“If it stays here, it will sit down doing nothing. It can't earn interest if it stays here so it's in matured US treasury bills, Canada bonds…,” he said.

US$36,163 in interest have been already earned since the monies have been deposited overseas.

He restated that after the Ministry of Foreign Affairs indicates how much is required at any given time for legal fees for the Guyana-Venezuela border controversy court case at the International Court of Justice, the Finance Ministry would go to the National Assembly for a supplementary amount after which the cash would be converted and released to Consolidated Fund for disbursement.

Jordan said there was absolutely no secret about the signing bonus, and the Bank of Guyana, Accountant General or the Ministry of Finance could at all time provide that publicly accessible information.

US$15 million have been set aside for the legal fees, and the US$3 million have been set aside for capacity building and training.

Foreign Minister, Carl Greenidge has not ruled out the possibility that legal fees could exceed US$15 million as the case before the ICJ could take as much as six years.

Hit your target - Advertise with us

Story by Demerarawaves
04 15 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.