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ExxonMobil sees no conflict of interest in working with company’s former VP to monetize Guyana’s gas
(ExxonMobil sees no conflict of interest in working with company’s former VP to monetize Guyana’s gas. Bronchalo worked 19 years and one month for ExxonMobil.)
CEO, Fulcrum LNG, Jesus Bronchalo worked 19 years and one month for ExxonMobil prior to his resignation
Kaieteur News – President of ExxonMobil Guyana Limited (EMGL), Alistair Routledge sees no conflict of interest with the award of a contract to the company’s former Vice President, Jesus Bronchalo, to monetize Guyana’s gas.
During its third quarter media engagement on October 9, Routledge was asked to comment on the issue.
Bronchalo worked 19 years and one month for ExxonMobil. The last position he held for the company was Vice President and Chief Commercial Officer for the Guyana operations; he resigned in February 2023.
Five months after tendering his resignation, Bronchalo launched Fulcrum LNG, boasting “experience and expertise across all aspects of the oil and gas value chain, including low-carbon solutions.”
There were no mentions of completed projects by Fulcrum on its website.
Kaieteur News understands that the company will be responsible for the design, financing, construction, and operation of gas infrastructure, inclusive of the necessary pipelines required to connect the gas infrastructure crucial for monetizing upstream gas.
Further, as part of the process, the company will have exclusivity to negotiate with the government for its entitlement of gas to ensure the viability of the project and the overall value chain. Notably, the project will be strictly financed and owned 100% by Fulcrum LNG.
The Parliamentary Opposition had raised concerns regarding a possible conflict of interest given Bronchalo’s extended tenure with ExxonMobil. The contract award had sent off alarm bells especially since Guyanese remain tied to a lopsided oil contract with Exxon.
Routledge however set the record straight that Exxon sees no conflict of interest in the contract award.
He said, “We don’t see a conflict of interest in any way. He resigned from ExxonMobil almost two years ago. He has no ties to the company; we have no tie to him, so we don’t see a conflict of interest.”
The Country Manager pointed out that ExxonMobil is focused on ensuring the development of the gas resources in the country in a bid to maximize value for the people of Guyana and to contribute to the work of the government is doing.
To this end, he explained, “We understand why the government went through the process it did and selected a company to work with. We said we will cooperate but really, we believe we have the rights to develop the gas. We’re focused on what can we do to maximize the value for the country and so that’s the work that we have in hand.”
(ExxonMobil sees no conflict of interest in working with company’s former VP to monetize Guyana’s gas)
- Bronchalo’s, chain, company’s, conflict of interest, country, ExxonMobil, Fulcrum LNG, gas, including, Jesus Bronchalo
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