News Editor

ExxonMobil’s US$100M commitment to Guyana’s STEM education constitutes less than 1% of year 2024 taxes under a more equitable arrangement

A high-calibre delegation from ExxonMobil, led by its Chief Executive Officer and Chairman, Darren Woods, is currently visiting Guyana. On the occasion of a welcome dinner for the visiting delegation, hosted by President Irfaan Ali on the evening of the 56th Republic Anniver-sary observance, Mr Woods unveiled a US$100 million programme to advance training in…

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Guyana’s income from petroleum management compared with Gulf of Mexico and Pennsylvania

Income from new shallow-water blocks offshore Guyana versus Gulf of Mexico Minister Vickram Bharrat was pleased to remind the National Assembly during the second day of the Budget 2026 debates that Guyana had gained USD 22 million from ‘two recently signed petroleum agreements’ (https://dpi.gov.gy/ppp-cs-transparent-oil-management-sets-guyana-apart-from-coalitions-secretive-record-min-bharrat/).  It was not clear from where the Minister found his USD…

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How can Guyana receive a fair share of revenue from its oil?

The 2016 Stabroek PSA allows the operator, ExxonMobil Guyana Ltd. (EMGL) to deduct massive expenses against current production—including costs from unsuccessful exploration elsewhere (due to lack of ring-fencing). Because the contract permits up to 75% of oil produced, on a monthly basis, to be used to pay off these Recoverable Contract Costs, we show below…

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Force majeure, shareholder messaging and a history of accommodation (Part II)

Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 175 Today’s column concludes a two-part piece arising from comments made by ExxonMobil’s Chief Executive Officer during the company’s fourth-quarter earnings call. When Darren Woods spoke of force majeure “pausing the clock,” he was addressing shareholders and the wider investment community, not the…

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The Gov’t must clarify Guyana’s position on ExxonMobil’s CEO Woods’ comment about ‘force majeure’

In Guyanese Creolese, the word ‘basiddey’ means ‘being in a state of mental disorientation or confusion, dazed, dumbfounded’.  The oil giant ExxonMobil certainly seems to have acquired expertise in sowing a state of ‘basiddey’ in successive governments in Guyana. Relinquishing areas Last year, in early July 2025, the government announced that ExxonMobil Guyana Limited (EMGL)…

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