Dear Editor,
In a letter published in the Kaieteur News on April 3, 2026 and captioned, “Ambassador, it would be dangerous for us not to renegotiate the contract,” Conrad Barrow stated “…any new, democratically elected government is mandated to serve it’s citizens best interest and so is obligated to correct the misdeed and mistakes of the previous administration which signed an unfair document.”
I would call this contract deeply corrupted.
Conrad was right to respond to the United States (U.S.) Ambassador. However, I would further remind our people that the Irfaan Ali Administration after taking power reneged on its election promise to renegotiate the contract and commenced speaking about the sanctity of the contract.
Guyanese recognise that the contract has no sanctity in the first place and that investors are not stupid and would recognise that it was a corrupt contract that was absolutely lopsided in the interest of Exxon.
This government should have called Exxon to sit at the table and confront them with the fact that it was a lopsided contract that defied all precedent contracts.
Her Excellency, the U.S. Ambassador in keeping with her mandate “America first” is protecting the interest of two American corporations, while Guyana especially those who voted for the People’s Progressive Party (PPP) were betrayed by the President and the Vice President.
Having accepted the Ambassador’s right and duty to speak on behalf of U.S. companies, I would like to assess and critique her argument that any attempt to renegotiate the contract would scare away investors.
I stated earlier that investors are not stupid people and they would do due diligence and if they are themselves decent would recognise what is condemned worldwide as a lopsided contract.
An examination of the position of the most recognised international organisations: The World Bank, IDB, IMF, IEEFA (Institute for Energy Economics and Financial Analyst), Global Witness, an anti-corruption organisation, Chatam House and the BBC correspondent, have criticised the Exxon PSA.
They have said that the contract is onesided with weak environmental and fiscal requirements, lacks guarantee for oil spills: inadequate oversight which leaves the country and its people exposed to a series of pollution and financial risks and the absence of “ring- fencing”.
The BBC correspondent said to Routledge – CEO of Exxon, “The cost sharing agreement with Guyana means you can claim literally billions and billions of cost before you even get to the profit sharing”.
Madam Ambassador as a representative of USA, the leader of the free world and one that condemns corruption in various parts of the world, you should encourage Exxon to sit at the table with our leaders to work out a PSA that has some sanctity.
It seems that our leaders do not have the testicular strength nor the political will for whatever reason to even suggest to Exxon the need to renegotiate.
The refusal to even ask is inexplicable.
I do hope those who support the PPP can recognise the great betrayal of not only Guyana but Cde. Cheddi. They should stop shouting Cheddi lives after having killed his legacy.