https://guyanatimesgy.com/ratio-contract-outlines-50-profit-oil-1-royalty-for-guyana/
Ratio contract outlines 50% profit oil, 1% royalty for Guyana
March 1, 2018
New oil contract released
A contract signed between an international oil firm and the Guyana Government has been released, which shows that Guyana has accepted royalty payment of one per cent and a 50/50 profit-sharing arrangement.
The contract which was released on Wednesday is that of Israeli-based oil exploratory firm, Ratio Guyana Limited and Government that was signed on the April 28, 2015.
Ratio Guyana commenced negotiations with the previous Government for a petroleum licence within the ultra-deep water Guyana Basin area in mid-2012. At
Ratio Guyana Limited operates in the Kaieteur Block
the time, that area was known as “Annex B”.
Negotiations were nearly completed when the October 2013 Anadarko/Venezuelan incident occurred. It took until the first quarter of 2015 before negotiations resumed............
Article 15.4 also provides for the Government itself to pay the company’s Income Tax. To facilitate this, the oil company has to submit tax returns to the Government. Article 32 also stipulates that Government cannot modify the contract or increase any fiscal obligation the company has.
In addition to that, information was leaked to the media that Government secretly received US$18 million as a signing bonus from ExxonMobil which was kept in a private account at Central Bank. Since the revelation of this secret signing bonus, the emerging sector has been mired in controversy. Government had failed to disclose this transaction to the nation, despite several officials, including Natural Resources Minister Raphael Trotman, being questioned about it by the media.
The Public and Private Sector Clowns of Israeli Energy - Jewlicious ...
jewlicious.com/2011/01/the-public-and-private-sector-clowns-of-israeli-energy/
Jan 2, 2011 - What can we learn from the new energy finds off the coast of Israel? ... While Ratio'sfounders, Landau and Rotlevy, come from wealthy families, ...
Police investigating Ratio underworld arbitration - Haaretz - Israel ...
https://www.haaretz.com/1.5125253
Oct 14, 2010 - ... agreement with Ratio, owned by Yigal Landau and Ligad Rotlevy, was ... that Shukrun hired the Georgian mob to extort him and his family.
Business in brief: Exxon buys into Israeli-owned oil license in Guiana ...
https://www.haaretz.com › Israel News › Business
Jul 25, 2016 - The Rotlevy and Landau families, who control Ratio, transferred half their 50% stake in the Block B license to Esso Exploration & Production ...
https://www.haaretz.com/israel-news/business/business-in-brief-1.5415214
Business in Brief: Exxon Buys Into Israeli-owned Oil License in Guiana
Elbit reportedly in talks to buy Brazilian firm | Teva meets huge demands as it completes $20 billion bond offering | Shares end mixed in dull Sunday trading
Jul 25, 2016
Exxon buys into Israeli-owned oil license in Guiana
Just a week after announcing plans to launch an overseas energy-exploration company, Ratio said on Sunday half of the rights in a Guiana license that will be controlled by the new company it is forming were sold the U.S. energy giant Exxon Mobil. The Rotlevy and Landau families, who control Ratio, transferred half their 50% stake in the Block B license to Esso Exploration & Production Guyana. Block B is one of the foreign energy-exploration assets the families plan to turn over to the newly formed company called Ratio Overseas, which will hold rights to explore for oil in Malta, Ireland and the Philippines as well as Guiana and list its shares on the Tel Aviv Stock Exchange. Exxon Mobil will now become the operating partner for the license. In April, Exxon Mobil reported finding up to 1.4 million barrels of oil at a license adjacent to Block B known as Stabroek. Ratio shares gained 0.5% to end at 33 agorot (9 cents). (Eran Azran)..................................
Octogenarian geologist behind Israel's giant gas field eyes foreign ...
https://www.timesofisrael.com/octogenarian-geologist-behind-israels-giant-gas-field-e...
Apr 18, 2018 - In 1992, he set up together with Israeli partners, the Landau and Rotlevy families, an exploration firm, Ratio Oil Exploration (1992) LLP and ...
Ratio Petroleum started as a joint venture by the Landau and Rotlevy families and ... Owner and Chairman of the Board of Hiram Landau Ltd. and one of the ... of Israel Ltd., ProSeed Venture Capital Fund Ltd., Ratio Oil Exploration Ltd., Ratio Oil Exploration (Finance) Ltd. and several private and family-owned companies.
No comments:
Post a Comment