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Any person that has ever taken a loan knows the importance of the interest rate on that loan. The higher the interest rate, the greater will be the loan repayments.
Vice President, Dr. Bharrat Jagdeo defended a provision of the lopsided Stabroek Block Production Sharing Agreement (PSA) on Thursday, in the government’s quest to preserve it.
The 2016 Production Sharing Agreement (PSA) that the Guyana government inked with oil major, ExxonMobil allows the company to pay back accumulated interest on loans it took to develop the resources in the Stabroek Block, without the prior approval of the Minister in charge.
AERI earnings call for the period ending September 30, 2021.