Latest update October 9th, 2026 6:21 PM
The Guyana-China card- Pt 1
(Kaieteur News) – In his 201st Oil and Gas column, the tireless Chris Ram, man of law and man of numbers, introduced a thought-provoking element in Guyana’s oil weaknesses and struggles. It’s one with explosive potential. One, if acted upon, that is sure to trigger some huge ripples across a number of fronts, both local and foreign. Mr. Ram came up with the novel idea that the Guyana Government should leverage its valued relationship with the Chinese Government for some movement towards the contract renegotiation table. I am sure that the resonantly named Excellency Yang Yang, Chinese Ambassador to Guyana would be more than inspired to take it from there. Now, I urge a careful scrutinising, measuring, of the environment.
America wants China to go out of Guyana and back to China. China wants to stay. Guyanese have an oil contract challenge. It’s about how to get more from the Exxon-led oil consortium. A consortium in which a Chinese company, CNOOC, holds a not insignificant 25 percent stake. Exxon men have been blunt: no to renegotiation. Could it be that CNOOC, a Chinese entity – alongside its country that is supposedly friendly to Guyana – does not agree with that no-to-renegotiation posture in some way? Small or substantial, it’s in Guyana’s interests to explore through diplomatic channels what the possibilities could be. A Chinese company, deeply embedded within the American oil consortium, could be the platform, launchpad, to the door of renegotiation for Guyana. The quid pro quo for being a gamechanger is that China has a firmer footing in Guyana.
Exxon and America may not like any such overture. But recheck its moves in Venezuela with Maduro. Indeed, all is fair in love and war. To that, I add, Guyana’s interest in getting a few dollars more from a depleting asset. Not buckets of millions, but a cupped hand that collects what is fair, what is appropriate in a partnership that has been celebrated as among the best in the world. Let’s look back and recall Exxon’s manoeuvres in the precontract signing period. Reports are that Exxon was neither forthcoming nor straightforward nor comprehensive (three euphemisms) in its disclosures about what the Stabroek Block held at that point. Today, there is that opportunity, as inserted into Guyana’s oil conversations, to return the favour.
The Chinese are looking for a lifeline that gives longevity in Guyana. Guyana is scrambling for an ally against a whale of an oil company (Exxon, with Chevron in tow), and there is CNOOC standing invitingly. It could be a wedge presence for Guyana, more of a helper to a friend in need, than a spoiler to consortium’s interests. I see this as bigger than oil. There’s gold, bauxite, timber, and other rich natural resources that Guyana could use as bargaining chips to entice the Chinese to see matters Guyana’s way. Naturally, only on terms that are mutually healthy.
The stakes are high. The issue is whether the men who are highly placed in the Guyana Government have the fortitude to seize a rare opening and massage it for all that it is worth. Is the Ali-Jagdeo Axis committed to better for Guyana from its oil? (Expect something on this). CNOOC has been silent, unlike that former consortium member, Hess Corp. Exxon has done all the pronouncing relative to renegotiation. Perhaps, the time has now arrived for CNOOC to break ranks and be more vocal for what’s helpful to Guyana. It would be surprising if the Chinese Government is cool to any genuine overtures from Guyana’s leaders. Guyanese have heard from Drs. Ali and Jagdeo about the cherished nature of the Guyana-China friendship. Hon. Prime Minister Mark Phillips most recently spoke of expansion of Chinese ties. A message and a mission fused into one. Thus, I exhort Pres. Ali, Excellencies Phillips and Jagdeo to take that expansion a step farther. Engage the Chinese for the benefit of Guyanese. This is the Achilles heel in the oil consortium, as the Fates would have it. China wants something (to stay). Guyana wants something (to renegotiate). Exxon wants its way (to standstill). This formula can be changed. Could the PPP Gov’t put Guyana first? Mr. Ali and Mr. Jagdeo can finally prove themselves.
(The views expressed in this article are those of the author and do not necessarily reflect the opinions of this newspaper.)
Share this:
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.
Similar Articles
Website Hits
Blunt of the day
Sports
Features/Columnists
Sir. Ronald Sanders
The GHK Lall Column
Weekend Cartoon
