Former Auditor General Anand Goolsarran has said that the Global Witness report on Guyana has confirmed that the 2016 deal with ExxonMobil is overwhelmingly in its favour and should be renegotiated.
In his accountability column in Monday’s edition of Stabroek News, Goolsarran said that the report has confirmed what commentators like him have been saying all along i.e. (i) the 2016 Production Sharing Agreement (PSA) is overwhelming weighted in favour of the U.S. oil giant; (ii) the agreement should be renegotiated to provide Guyana with better terms; and (iii) while companies exist to maximise shareholders’ wealth, such an approach should be tempered with a social conscience, by not taking advantage of weak negotiating skills, among others, especially for a poor developing country like Guyana.
