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Exxon still pumping!

Mar 28, 2020 Dem Boys Seh, Features / Columnists

Dem boys can’t understand how Exxon still pumping… oil. De price ah oil on de world market drop from almost US$60 per barrel a few weeks ago to about US$25.10 as at 6:45 last night.
Dem boys nah been far in school, but dem hear that de cost of production of oil in Guyana is about US$30 per barrel. Dem boys understand that fuh mean that de cost of production is higher than de price de oil fetchin’ now.
Wha dem boys nah understand is why if it costing Exxon mo’ fuh produce a barrel dan wuh dem gun sell it fuh, why dem nah stop pumping de oil? One man explain am’ fuh dem boys.
He seh that de big ship called the Floating Production, Storage and Offloading vessel, is being leased and the lease amount to one-third the cost of production. Wha he seh is that it mek mo sense for Exxon sell at a loss of $3 per barrel than to pay the US$10 per barrel for the lease and not produce any oil.
Dem boys ask he if he mad! Dem boys ask why dem don’t cancel the lease.
He ask how that can’t happen. Dem boys looking fuh Mingo fuh help sort out this problem with these numbers, because it nah mek sense fuh produce all that oil and losing money. Leh we hope Mingo ain’t seh how he nah gat any counting kit.
Dem boys know that when yuh pumping at a loss, it mean no money fuh Guyana. It also mean higher debts!
Dem boys seh is the coronavirus to blame. The virus hit the world at the same time that Russia and Saudi Arabia increasing oil production, and the world end up with mo’ oil than it gah use fuh. So the price drap. And some economy gun fall brap!
The coronavirus hitting all dem country. But dem boys notice that one country nah gat one single case of coronavirus. The country named Burundi. Dem boy read a story that how when dem ask a Burundi government official how come the country din have no case of the virus, he said that it was because they ain’t have any testing kits.
The story tun out to be a joke, but ole people seh every joke gat some truth. If you nah test, you can’t find cases.
Pray that Guyana gat enough testing kits and Exxon slow down with the pumping.
Talk half, lef half!

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