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Cash grant for every Surinamese

Cash grant for every Surinamese

Taking its cue from Guyana, which is earning nearly $7 million daily from offshore oil production, the government in neighboring Suriname says it will give every citizen living in the country a cash grant of US$750.00 each from future oil revenues. Announcing the package at the 49th independence anniversary celebrations on Monday, President Chan Santokhi clarified that the government will pay the money from royalties and other revenues after actual oil production begins in 2028   Total Energies of France, which is the lead player in the offshore production effort, had earlier this year made the crucial final investment decision…
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How Suriname and Guyana plan to share oil and gas wealth with citizens

How Suriname and Guyana plan to share oil and gas wealth with citizens

The small South American country of Suriname plans to share revenues from newly discovered oil- and gasfields off its coast. After several discoveries of oil reserves by an offshore drilling project known as Block 58 from 2019 to 2023, President Chan Santokhi has unveiled an ambitious initiative called Royalties for Everyone” (RVI), aimed at ensuring that all Surinamese benefit from the wealth generated for the country, which experts value at about $10bn over the next 10 to 20 years. “The RVI instrument means that every Surinamese who lives in our country receives a savings note worth US$750 with an annual…
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