ExxonMobil’s absurdity

Sep 28, 2026 Editorial, News

(Kaieteur News) – ExxonMobil is now selling Guyana’s lopsided 2016 Production Sharing Agreement (PSA) as the model for other nations. This is not just absurdity on the face of it, but ranks as a corporate comedy program that no citizen of this country should find funny.

The PPP/C Government, when it was in the opposition benches, and for a short time afterwards, had nothing positive to say about ExxonMobil’s PSA with Guyana. The record shows that today’s PPP/C Government had called that oil contract by some of the worst names imaginable. The APNU+AFC Coalition government that signed away Guyana’s future with that repulsive PSA took some time, but a few of its leading voices have publicly regretted signing that oil contract. They are for reversing it, and starting over from scratch with a renegotiated contract. A contract that embeds better terms for Guyana, and a fair share of profits to ExxonMobil for its exploration and production expertise.