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Exxon worth US$429B but only offering Guyana US$2B parent guarantee for oil spills – Int l Financial Analyst kaieteurnewsonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kaieteurnewsonline.com Daily Mail and Mail on Sunday newspapers.
Exxon dodges KN s request for full disclosure of formula used to arrive at US$2B parent guarantee kaieteurnewsonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kaieteurnewsonline.com Daily Mail and Mail on Sunday newspapers.
The US$2B parent guarantee Guyana is poised to receive from ExxonMobil Corporation for the Stabroek Block only covers expenses associated with an oil spill within these borders. The determination of that sum did not consider ensuing liabilities of potential impacts on 12 Caribbean territories. Though that worst-case scenario is outlined in the Environmental Impact Assessment (EIA) for the Liza Phase One Project, Alistair Routledge President of ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL) said it is not considered as a “credible” case, especially when one considers the extensive mitigative and preventative measures in place for the Stabroek Block.