Guyana's tax agency to begin dispute resolution with Exxon over expenses

Published on: Thursday 06 March 2025

Guyana's Natural Resources ministry has ordered the country's tax agency to begin a dispute resolution with Exxon Mobil over the recovery of some $214 million in expenses registered by the U.S. oil major. Expenses reported by Exxon as part of its operations at the massive Stabroek offshore block are closely monitored because a consortium led by the U.S. major can take and export up to 75% of the crude it produces as "cost oil", while Guyana's government is entitled to half of the remaining barrels. The government has followed mechanisms included in the contract to have the expenses audited by external consultancy firms and determine if they were correctly reported.

News source: https://finance.yahoo.com/news/guyanas-tax-agency-begin-dispute-201843614.html

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My Financial News from Guyana, Taxes

Guyana's tax agency to begin dispute resolution with Exxon over expenses