Jul 08, 2026 Editorial, News

(Kaieteur News) – It is a fact that denying and dodging have a limited existence. In the contexts of family, workplace, friendship, business, or politics, that limited shelf life for denying and dodging still applies. We apply this to the business of Guyana’s oil and the politics surrounding it. The best place and person to begin with is Guyana’s chief policymaker for its oil and gas sector, Vice President Bharrat Jagdeo.

In 2024, Jagdeo was asked about ownership of oil assets in the local environment. This was his response: “It’s a simple thing. You’re not part owner of any company. You don’t own these assets. So, ExxonMobil puts in the investment. They create a company; the company has these assets. We are entitled to receive in the future, 50%, once everything is paid off…you are entitled to collect 50% of future profits and they get 50% and then 2% royalty on the gross…that’s your entitlement to collect.”