• 4 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 7 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 10 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 13 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 2 hours The 5 Scary New Rules Of Upside-Down Capitalism
  • 3 hours U.S. Shale To Break Records Despite Bearish Rhetoric
  • 30 mins Hydrogen Hurdles in Japan
  • 11 hours More dumbed down? re Hong Kong Act of Congress
  • 2 hours Winter Storms Hitting Continental US
  • 3 hours Conoco next gen test wells Vintage 5 (V5) 20% recovery and say " We can do even better "
  • 16 hours U.S. Shale Output may Start Dropping Next Year
  • 3 hours PennEast Appealing Wacky 3rd Circuit Decision to Supreme Court
  • 13 hours Petroleum Industry Domain Names
  • 23 mins Aramco IPO magic trick
  • 3 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 5 hours Impeachment S**te
  • 4 hours Contaminated Oil
  • 18 hours Crazy Stories From Round The World
  • 3 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018

Global Intelligence Report – 10th July 2019

Rig

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