Stating that the 2% royalty on oil from ExxonMobil was way below global standards and that the tax regime should have been greater, Presidential Advisor on Petroleum, Dr Jan Mangal says pressure from the citizenry has the potential to influence government to revise the contract with the American company.
“Don’t underestimate the power that people have,” he told a University of Guyana (UG) forum yesterday where he discussed with students the nascent oil and gas sector.
