Guyana must now receive its 50% profit in Exxon deal

Aug 10, 2026 News

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…Lall demands Govt. break silence on company recovering full investment

(Kaieteur News) “Rejoice Guyana! Oil money will begin to flow. Poverty and borrowing will become a thing of the past. Exxon has spoken.”

This is the charge given by businessman and newspaper Publisher Glenn Lall over the recent announcement by ExxonMobil that the company has recovered its entire US$55B invested in Guyana to date, which will now increase the country’s profit share from a measly 12.5% to a staggering 50%.

In his latest social media commentary, Lall pointed out that Exxon proudly reported the development to its shareholders while highlighting the country’s record  breaking performance which allowed the company to recoup US$55B investment, two years ahead of schedule.

Moreover, the businessman stated that ExxonMobil clearly outlined that in keeping with the contractual arrangements, more money will flow to Guyana.

Consequently, Lall argued, “This is not some little piece of oil news buried in a corner. This development has been reported by news organisations around the world and is being discussed in the boardrooms of major business and financial circles across the globe. In other words, the world is hearing what this development means for Guyana.”

Under the PSA, the contractor can use up to 75% of Guyana’s oil monthly to recover its expenses. The remaining 25% is considered “profit oil” and is divided equally between the Government and the consortium, meaning the country receives 12.5% profits. Now that all of the company’s investments have been recovered, Guyana should now enjoy 50% profits.

Lall said that upon this announcement, it was expected that the leaders of Guyana, especially former President, Bharrat Jagdeo who controls the oil sector would have been the first to offer an explanation to the citizens.

“One would expect him to come before the nation with a big smile and say: My fellow citizens, the moment we have been waiting for has finally arrived. More money is coming our way, and the struggles so many of you have been going through can finally begin to ease.” You would expect an announcement. You would expect excitement. You would expect the numbers to be laid before the nation,” the advocate reasoned.

The businessman urged that Guyanese must know how much more money is expected to flow into the Natural Resource Fund (NRF), when it will start coming, what it means for the ordinary Guyanese family and perhaps most importantly, when citizens who are the rightful owners of the resources will begin to feel the difference in their pockets.

Instead of excitedly sharing the news with its people, Lall argued that for 10 days the government has been silent.

“We have to ask why. Why is the oil Companies comfortable telling its shareholders what has happened in Guyana but the Guyanese people are still waiting on their leaders to explain what it means for them,” he questioned.

“If more money is now expected to flow to Guyana then this should be one of the biggest announcements coming out of Government. You shouldn’t have to drag this information out of anybody,” Lall insisted.

The businessman pointed out that despite the wealth Guyana has, the country still has billions of US dollars debt while families struggle to stretch their salaries from one month to the next with young people fleeing the nation in search of a better life.

He appealed, “Come on, if your family was drowning in debt and somebody called to tell you that more money was finally coming into the house, would you hide that news from your wife and children? Or would you run through the front door shouting: Thank God, Relief is coming. That is why we cannot understand this silence.”

Lall argued that Guyanese must not be forced to speculate over its natural resources as he called on VP Jagdeo to address this major development.

He urged, “Tell us what contractual provisions now apply. The same 12.5% or the full 50%. Tell us how much additional revenue Guyana should expect. Tell us when it begins. Put the figures on the table because Exxon has already spoken to its shareholders. Now you must speak to the people of Guyana. And if there is some reason why this announcement does not mean what Guyanese have been told then tell us that too.”

On Friday, Kaieteur News reported that the operator confirmed US$55B in costs have been paid off using Guyana’s oil.

Chief Executive Officer (CEO) and Chairman of Exxon, Darren Woods told the company’s shareholders that Guyana’s progress as a success story that has set a new standard for the industry, exceeding even the company’s expectations. Exxon said it expected the cost bank to be cleared in another two years. Woods however said, “Delivering on tight schedules, at industry-leading cost – with strong reliability and optimised production – has resulted in recovering our capital and cost nearly two years earlier than anticipated, increasing NPV, and desaturating the cost bank.”

Senior Vice President and Chief Financial Officer of Exxon, Neil Hansen offered clarity, “…as we mentioned, at this point, we’ve fully recovered the $55B of investment, along with all the operating costs and the way the contractor agreement works is we can recover that investment up to 75%. After that, the remaining production is shared 50/50 between us and the government of Guyana.”

Hansen further noted that the company’s share of oil from the Stabroek Block will decline as a result of the development.

ExxonMobil discovered oil in commercial quantities in Guyana’s Stabroek Block in 2015. The company later began producing oil in December 2019. To date, seven oil projects have been approved while only four are currently producing oil. The remaining three are under development with ExxonMobil eyeing two additional developments- its eighth and ninth projects.

Approving more projects can again hamper the country’s increased revenue flow from the sector.

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• 50% profit, Bharrat Jagdeo, ExxonMobil, Former President, Glenn Lall, Guyana, Natural Resource Fund (NRF), PSA, Stabroek Block

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