• 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Forecasts for oil stocks.
  • 9 minutes Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 13 minutes European gas market to 2040 according to Platts Analitics
  • 40 mins Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10%
  • 22 mins America's pandemic dead deserve accountability after Birx disclosure
  • 3 hours Putin blocks Ukraine access to Black Sea after Joe blinks
  • 3 hours U.S. Presidential Elections Status - Electoral Votes
  • 14 hours Today Biden calls for Summit with Putin. Will Joe apologize to Putin for calling him a "Killer" ?
  • 2 days Fukushima
  • 2 days CO2 Mitigation on Earth and Magnesium Civilization on Mars – Just Add Water
  • 4 hours Biden about to face first real test. Russia building up military on Ukraine border.
Editorial Dept

Editorial Dept

More Info

Global Intelligence Report – 10th July 2019

Exxon’s Generous Royalty Deal in Guyana Is Safe, For Now

Investors have been waiting to see what the outcome of the latest political crisis in Guyana would be in the aftermath of a string of major offshore discoveries that came along with a very generous royalties deal for Exxon.

The wait is potentially over. Guyana has now made it clear that it will revisit royalties contracts with an eye to bigger revenues for the government, but for now, the plan is to apply that to future contracts--not existing ones.

Fears were additionally stoked when regulators announced an investigation into possible corruption related to oil deals. Guyana’s State Assets Recovery Agency (SARA) announced last quarter that it was probing how those licenses were awarded, which sent another wave of anxiety through hedge funds invested in Exxon.

Again, SARA made it clear that while all deals are technically being probed “in fairness”, only two blocks (not having to do with Exxon) are really the target here.

Exxon’s royalties will remain intact, according to our political experts and government sources on the ground in Guyana. At stake are the 4 billion barrels of oil it’s just discovered, and no one wants to rock this boat.

PDVSA’s New Clientele: The Illicit Oil Swap

Reuters has brought to light an unknown “Turkish” company that is oddly buying oil from Venezuela. Using our sources on the ground in Turkey and…




Oilprice - The No. 1 Source for Oil & Energy News