Revenues from ExxonMobil’s oil find here could be at least four times Guyana’s national budget at current market prices, and a top US Embassy official here has urged government to move swiftly to implement measures to ensure transparency and accountability.
“We are looking at projections that based on our estimates, go from somewhere between four and five times the current national budget. So that’s substantial and obviously if the oil price goes up, that can be significantly more,” Deputy Chief of Mission at the US Embassy here, Bryan Hunt, told Stabroek News, in an interview.
“I think even with a weak oil price, ExxonMobil has indicated they plan to move forward with their development on the Stabroek Block. The contract that the government has includes a significant amount of revenue coming in to their coffers so we are talking a lot by any stretch. Imagine…four to five
