Episode Details

ExxonMobil’s claimed $51 billion recovery from Guyana’s oil operations is sparking major scrutiny, as the Oil and Gas Governance Network reveals a glaring gap between Exxon’s figures and the Bank of Guyana’s reported $61.3 billion in total revenue — leaving at least $6.7 billion unaccounted for. Based on the 2016 Production Sharing Agreement, which allows Exxon to take 75% of revenue for development costs, the math suggests total revenue should have been at least $68 billion. With no clear explanation from authorities on how these discrepancies arise — whether from differing production volumes, pricing, accounting periods, or definitions — public trust in the accuracy of royalties and profit-sharing is eroding. Guyana’s oil industry, which began in late 2019 with four floating rigs in the Stabroek Block, now faces growing pressure for transparency as the government is urged to clarify these financial inconsistencies.

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