Kaieteur News – Despite the billions in profits recorded by the oil companies operating in Guyana’s Stabroek Block, the country continues to shoulder their tax burden. In 2024 alone, the government paid over $500 billion in income taxes on behalf of ExxonMobil Guyana Limited and its partners Hess and CNOOC, under the terms of the 2016 Production Sharing Agreement (PSA) governing the Stabroek Block operation.
ExxonMobil Guyana is the operator of the Stabroek Block with a 45 percent interest, while Hess Guyana holds 30 percent and CNOOC Petroleum Guyana Limited holds 25 percent.
According to the oil companies’ financial statements for 2024, Guyana had to pay $260 billion in taxes for Exxon, $219.3 billion in taxes for Hess, and $23 billion for CNOOC a total of $502 billion.
