PPP/C's dealings favour ExxonMobil over Guyana

PPP/C’s dealings favour ExxonMobil over Guyana

Aug 21, 2023 Front Page Comment, News

FRONT PAGE COMMENT

Kaieteur News – The government’s recent decision to extend the period for ExxonMobil and its partners to surrender 120 oil blocks out of the 600 that make up the Stabroek Block represents treachery. According to Guyana’s laws, this portion that represents 20 percent of the Stabroek Block was required to be surrendered by October of this year. The dubious decision to extend the period for surrendering the blocks benefits the oil companies at the expense of our people’s future.

When the PPP/C swept into office, they vowed to address the lopsided Stabroek Block Production Sharing Agreement (PSA) that has long been a thorn in the side of the nation. In their Manifesto, they also promised better contract management.

However, instead of renegotiating the deal as they had promised, they have chosen to abandon their commitment and prioritize the interests of a corporate giant over the welfare of Guyanese. Now, they are retreating from their pledge to have better contract management.

Had the government enforced the provisions of the contract as well as ensured compliance with our laws, the country would have had 120 blocks to auction this year. By auctioning these blocks and utilizing the proceeds to alleviate national debts and enhancing the lives of its citizens, the PPP/C would have been bequeathing a better future for all Guyanese.

By inexplicably allowing ExxonMobil and the other oil companies to retain these blocks for an additional year, the government is enabling the oil companies to map out the entirety of the lucrative Stabroek Block and then hand back, next year, unproductive assets.

So what has become of the “better contract management” the PPP/C championed? The government’s actions are a calculated manoeuvre that severely threatens the nation’s future prosperity. The extended timeline actively sabotages the aspirations of Guyanese.

It is a damning indictment that the PPP/C’s actions are now aligned more with the interests of ExxonMobil than with the people. Guyanese deserve better leadership but will not receive this leadership unless they are prepared to confront a government that has gone rogue on them. Guyanese citizens must stand united against this betrayal by the PPP/C. They must demand that this decision be reversed.