World Bank accused over ExxonMobil plans to tap Guyana oil rush
by Jasper Jolly from on (#50DN8)
Washington DC-based bank grants funds to redraft south American state's oil laws by lawyers linked to oil giant
The World Bank is to pay for Guyana's oil laws to be rewritten by a legal firm that has regularly worked for ExxonMobil, just as the US producer prepares to extract as much as 8bn barrels of oil off the country's coast.
The World Bank has pledged not to fund fossil fuel extraction directly, but it is giving Guyana millions of dollars to develop governance in its burgeoning oil sector, as the south American country prepares for an oil rush led by ExxonMobil and its partners.
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