Norton vows to ‘maximize’ benefits from Exxon’s oil deal, but offers no specifics

Jul 27, 2025 News

APNU leader vows to ‘maximize’ benefits from Exxon’s oil deal, but offers no specifics

Presidential Candidate and Leader of A Partnership for National Unity (APNU) Aubrey Norton

Kaieteur News – Leader of A Partnership for National Unity (APNU) Aubrey Norton on Friday said that he intends to maximise Guyana’s benefits from its oil deal with United States (U.S.) oil giant ExxonMobil but failed to provide specifics on how he will achieve this.

Asked by reporters whether APNU will pursue to increase the 2% royalty during discussions with the oil company, Norton said “We intend to, as it relates to the Exxon, we intend to engage Exxon on every aspect of the contract that we believe can be utilized to increase the benefit to the people of Guyana. I do not want to get into what percentage, et cetera, until we are in government and have the data at our disposal to make sensible, rational discussions.”

At his party’s weekly press conference, Norton said his party has been proactive by engaging Guyanese in the diaspora who have expertise in the varying elements of the oil and gas sector. Further, he announced that once elected to office, an advisory group consisting of the diaspora will help chart the way forward.

Norton was reminded of Exxon’s position on the renegotiation of the oil contract. In October 2024, President of ExxonMobil Guyana Alistair Routledge said that his company is open to discussions with the People’s National Congress Reform (PNCR), the largest party in the coalition. The lopsided deal was signed by the APNU/AFC government in 2016.

Responding to a question posed by this publication at a press conference held at the company’s Duke Street Office on the PNCR’s recently revealed plans to engage the company in a top-to-bottom review of the deal, Routledge said, “Yes, so I saw the announcement, I haven’t had the opportunity to meet with anybody from the PNCR since then. We always welcome engagements to look at the agreements to understand the agreements, to understand our operations.” He added that the party does not have regular engagements and insight into the sector; as such, he believes an interest would be there which is welcomed by the oil company.

Not budging

Later in the press conference, he was asked by another reporter if the company has changed its position regarding the possibility of engaging the government in renegotiating the royalty percentages. To this, Routledge said, “No it hasn’t changed but I think what’s important to say is, ‘cause I have seen comments made about Suriname and everyone wants to say ours is better than yours, but at the end of the day this was all the elements that go into an agreement like this- a Production Sharing Agreement.”

He urged that a “step back” should be taken to recognize that the agreement has been very successful for Guyana in attracting investment into a basin where there were no discoveries. In fact, he boasted that it was Exxon that de-risked the area for oil and gas activities in Suriname.

“It de-risked the Suriname drilling because discoveries had been made in Guyana by the Stabroek Block Co-Venturers and we can always cherry pick if somebody has higher royalty, or lower royalty, pays this tax or that tax but it’s about the total amount of revenue that’s generated out of the petroleum agreement that’s really important to the country and if you don’t attract sufficient investment, development won’t happen and you won’t have the same scale of revenue,” Routledge said.

To this end, Norton told the media that “…the law provides for us to engage and make changes and we intend to address the (issue) based on the law. I think it is Article 24:1.”

On further inquiries by the media to ascertain the guarantees the party will be giving to the companies already here, and ones who have intentions to come that their investments will be safe, the APNU leader said, “We have already guarantee them that their investments will be safe, we believe that is a good investment for Guyana, but that doesn’t preclude the fact that more can be obtained for the people of Guyana and we will pursue assiduously, the objective of ensuring the Guyanese people benefit more from the oil and gas sector.”

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APNU leader, benefits, Exxon’s deal, Norton, specifics

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