Exxon Guyana president rejects responsibility for nation-building

Alistair Routledge, president of Exxon Guyana Limited, has stated that nation-building is ‘not our job,’ responding to domestic calls for the oil giant to play a larger role in raising living standards in Guyana.

Since Exxon’s 2015 offshore discovery, Guyana has become the world’s fastest-growing economy and produces nearly 1% of global oil supply. While much of this oil serves European markets, the production boom has significantly bolstered Exxon’s global output, contributing an estimated 15% of the company’s operating income.

Critics and economists have challenged the current revenue-sharing agreement. Thomas Singh of the University of Guyana described the 14.5% revenue share as ‘a terribly bad deal’ compared to other oil-producing nations like Norway or Brazil. Routledge defended the existing contract terms, noting that Exxon assumes all financial risk and that Guyana’s share is scheduled to increase once development costs are recouped.