Investors concerned about press reports

Mar 24, 2023 Editorial

Kaieteur News – Foreign investors have expressed concerns over local press calls for renegotiation of ExxonMobil’s vile 2016 oil contract. This paper is proud to lead the way with continuous calls for renegotiation of this ExxonMobil contract that hangs like a noose over the head of every Guyanese. This contract is suffocating the life out of Guyana’s citizens, many of them hungry and hopeful. It is why we have a duty to speak at high volume on the radio, in cyberspace, and to write copiously in this newspaper, about all that is wrong and criminal about this contract, and why it must be renegotiated. It must be renegotiated now, when ExxonMobil is producing more and more barrels of oil daily from Guyana’s oilfields, and earning profits like never before.

We have no issue with foreign investors and their concerns about the state of their investments in Guyana. It is the way it should be, and their business. By the same token, we are surprised, definitely appalled, that foreign investors could bring up renegotiation to Mr. John Hess, CEO of Hess Corporation, and a partner with a 30% stake in Guyana’s oil, consortium during an energy conference. What the Guyana press makes a priority in this country, a heartfelt part of its service to all citizens, is its business, and its right. We at this paper have made renegotiation of ExxonMobil’s crippling 2016 oil contract our calling, our guiding work, and our right. To one and all, we have this little message: we will not be deterred, we will not be intimidated, we will not allow ourselves to be second guessed by anyone from anywhere at any time. Let that be known all over, for it is written in stone, for we are not budging from this mantra.

On his behalf, Mr. Hess has been loud to the point of drooling about how well his company has done in Guyana. He has been similarly boastful and lavish in his profit expectations for the future, and again from Guyana’s dirt cheap oil. Mr. Hess investors have done very well from the oil that belongs to the Guyanese people. But notwithstanding that, they want the already overloaded Guyana gravy train to continue with still more riches from Guyana packed into it. Again, we have no quarrel with what foreign investors want for themselves, but what they want for themselves, the riches of our oil, we also want for ourselves.

We, the owners of these oil riches, have been tricked and cheated with pittances, the equivalent of beads for our oil worth billions in American dollars. We do not take kindly with foreign investors wanting one thing (amazing returns) for themselves, but scorning what we want for ourselves. A level playing field is a start, with more protection, more royalties, and more profits, as our share. Are these self-centered and callous foreign investors so blind, so deaf, that they cannot see, never hear, that everyone pays their fair share, some share, of taxes everywhere?

The plight and struggles of Guyanese may not matter to them because their dividends are fatter, and their ExxonMobil and Hess Corporation shareholder news is all about what is bright and beautiful in Guyana. We wish, however, to assure all of them throughout the United States, Canada, Europe, and wherever else that they may be that all of this matters most urgently to us. We want and we must have more for our wealth, some of which were specified above. We cannot go on like this, the laughingstock and poster child of a weak and woeful people, because we are contented with the scraps that the ExxonMobil contract gives to us. And because we are supposed to be happy that this enriches the same foreign investors tabling their concerns about press calls for renegotiation of this deformed monstrosity of an oil contract.

We are most unhappy, very angry at this repulsive contract. More Guyanese now share the same rage with this contract. It must be renegotiated, and it will be, in some form, regardless of who says what. We mean business in this country, and the leaders of ExxonMobil and Hess Corporation better get that in their heads. Renegotiate or remove from here.

ExxonMobil, investors, press, renegotiation, reports

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