Disgraceful for VP Jagdeo, Min. Bharrat to allow citizens to rely on Exxon for updates on recovery of all investments – Christopher Ram

…as Gov’t yet to address nation on promised 50% oil profits

(Kaieteur News) – Since July 31, 2026 ExxonMobil announced to its shareholders that the company has recovered all of its investments made in Guyana to develop the seven projects approved to date – a significant development in the country’s petroleum sector that is yet to be addressed by the Government of Guyana (GoG).

Attorney and Chartered Accountant, Christopher Ram in a scathing commentary to this newspaper on the matter blasted the administration for its silence on such a key milestone in the nation’s oil story, describing it as an act of disgrace for government to leave citizens reliable on information supplied by a multinational corporation that has proven to be “less than straight and honest” in its dealings locally.

Ram has been a vocal advocate against the GoG for its appalling lack of transparency in the management of the oil and gas sector, leading a string of protests last year particularly against the Commissioner of Information, Charles Ramson (SC) whom he accused of guarding key information instead of making same available upon the request of citizens.

In an invited comment on the recovery of some US$55B in investment and operating expense by ExxonMobil, Ram said Guyana is now positioned to receive 50% of profit oil which is what is available after the deduction of recoverable expenses.

The Chartered Accountant was careful to point out, “This statement that Guyana will receive 50% of all oil produced is absolutely and verifiably misleading. It is also not consistent with the provisions of the contract.”

“How disgraceful it is that we have no less than a Vice President (Bharrat Jagdeo) and a cabinet minister responsible for the petroleum sector (Vickram Bharrat), and yet we have to rely on Exxon whose accounting has been less than straight and honest to provide us with information on the recovery of all their costs.” – Christopher Ram

Shifting his attention to the fact that the GoG is yet to address the nation on this issue, the lawyer argued, “How disgraceful it is that we have no less than a Vice President (Bharrat Jagdeo) and a cabinet Minister responsible for the petroleum sector (Vickram Bharrat), and yet we have to rely on Exxon whose accounting has been less than straight and honest to provide us with information on the recovery of all their costs.”

He added that Guyana must now wait to see what charges and provisions will now be concocted and invented to ensure the nation does not realise a larger share of profit from the agreement.

More than two weeks have now elapsed since the major announcement was made by the Chief Executive Officer (CEO) and Chairman of Exxon, Darren Woods. During the company’s second quarter earnings call on July 31, 2026 the CEO described 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.”

On August 11, the Natural Resources minister told this newspaper that a statement would be issued by the GoG. Up to the time of this report, this commitment was not honoured.

Former Finance Minister, Winston Jordan previously told this newspaper that Guyana is now entitled to a larger share of the resources being generated offshore but instead of government providing full disclosure on what the recovery of Exxon’s investments means for the nation, citizens continue to be left in the dark while the opposition appears caught up in other matters.

Jordan explained, ““…in accordance with the PSA, profit should now be calculated in the usual manner, that is revenue minus all eligible expenditure, and shared in the same 50:50 split.”

He continued, “I’ve seen calculations where expenditure could go down to about 37% of revenues, which would leave 63% as profit to be shared equally between. That means GoG would be entitled to 31.5%+2% royalty = 33.5%.”

He pointed out that this would be more than double the 14.5% Guyana currently receives in profit along with the 2% royalty.

Moreover, he highlighted that this could result in the Natural Resource Fund (NRF) receiving between US$8-10 billion annually at current oil prices – up from the average US$2.7 billion.

My position on the Crisis within the CCJ

The CCJ Crisis: Its President Has Responded. Questions Remain.

The lengthy statement by CCJ President Justice Winston Anderson is an important development in a crisis which has damaged the integrity and perceived impartiality of the Court – hopefully not irreparably, but certainly for years to come, particularly if the existing leadership remains in place.

Justice Anderson deserves credit for responding publicly. He rejects allegations of panel fixing and improper attempts to influence judicial outcomes. His explanations deserve fair consideration, but cannot substitute for an independent examination of allegations made by five of the Court’s six other sitting judges.

Two of the controversies are of particular importance to Guyana. On the Mohamed extradition case, Justice Anderson does not directly answer Justice Jamadar’s specific allegation that he attempted to influence colleagues whose views differed from his. Unanimity in the eventual result does not answer an allegation about the integrity of the process by which that result was reached.

The other concerns Guyana’s Judiciary, for which the Constitution makes specific provision. Anderson now acknowledges that in October 2025 he privately sought to encourage agreement on the substantive appointments of Chancellor and Chief Justice, speaking separately with President Irfaan Ali and then Opposition Leader Aubrey Norton. He concedes that another course would have been better and that he might have confined himself to public commentary, as his predecessors had done.

This not only reflects poor judgment unbecoming of the holder of such an exalted judicial office, but raises the more important question whether the President of Guyana’s final appellate court should intervene in a constitutional process entrusted to the President and Leader of the Opposition of a Member State.

Significantly, Anderson sidesteps Norton’s more specific allegations: that he sought Norton’s agreement to particular appointments; said that he had participated in negotiations concerning then acting Chancellor Yonette Cummings-Edwards and sought to facilitate them; and told Norton that the President and others were waiting to swear in the proposed appointees, indicating when questioned that he had been with President Ali.

In a lengthy statement intended to answer the controversies surrounding him, omissions of that significance cannot simply be dismissed as oversight.

Nor can responsibility rest with Justice Anderson alone. At the political level, the circumstances demanded strict observance of the separation between Executive and Judiciary. Instead, President Ali appears to have lent support to an intervention by the President of the CCJ in a process which, according to Norton, encompassed the departure of the then acting Chancellor and the proposed appointment of Guyana’s two highest judicial officers.

Ali must – but won’t – explain his role in these serious matters. Who initiated the discussions? What was discussed? What did he understand Anderson’s role to be? Was the Attorney General consulted?

More fundamentally, if the President was prepared to engage the head of Guyana’s final appellate court in such an intervention at the apex of the judicial system, Guyanese are entitled to ask where he believes the boundary lies between legitimate executive action and interference with the Judiciary. If Ali is prepared to cross that boundary with the apex court, what assurance is there that it will be respected in the domestic courts?

Against this background, Guyana’s institutional responses are disappointing. The Bar Association concentrated on confidentiality and expressly declined to address the substance. That position will inevitably reinforce existing suspicions about its political independence.

For its part, Guyana’s judicial leadership associated itself with a regional statement which declined to address the merits while expressing grave concern about the breach of confidentiality. Given Guyana’s exceptional involvement, was there consultation within our Judiciary before its leadership joined that statement?

There is also an unavoidable issue of perception. In the 2018 presidential term-limits case, Justice Anderson was the lone dissenting judge in the CCJ’s six-to-one decision upholding Guyana’s constitutional term limits. His dissent was entirely within his judicial right and is not evidence of political bias. But his subsequent acknowledged intervention with Guyana’s political Executive inevitably causes that history to be viewed in a new and uncomfortable context.

The controversy also unfairly casts a shadow over the acting Chancellor and acting Chief Justice and their prospects for confirmation. Nothing disclosed establishes wrongdoing by either. That unfair consequence itself demonstrates why the appointment process should have been insulated from outside intervention.

Finally, the Guyana Bar Association and the regional judicial leadership elevated the leaking of confidential correspondence above grave allegations which the CCJ President’s lengthy statement has only partially addressed. There is no evidence that any of the five judges leaked the emails. The disclosure could have come from anyone with access. What matters is that the correspondence exposed an atmosphere harmful to the Court and the Region. The five judges did not create this crisis by raising these concerns. The crisis lay in the conditions that caused them to do so.

Justice Anderson’s statement is welcome but incomplete. It cannot be the final word.

Saturday, August 15, 2026

AN OPEN LETTER TO HIS EXCELLENCY DR. MOHAMED IRFAAN ALI, PRESIDENT OF THE CO-OPERATIVE REPUBLIC OF GUYANA

Mr. President,

On 21 July in an Open Letter, I asked two things of you. You granted the first, a period of national mourning. That is appreciated. The second was that you establish an independent Commission of Inquiry under the Guyana Shipping Act, 1998. That request has neither been granted nor refused. It has been passed over in silence.

Yesterday, the Prime Minister said that the Government had not yet considered the role of the Opposition in the Commission of Inquiry. Today, Demerara Waves reported that you announced that you would name five commissioners tomorrow. This letter is written tonight, before you do so, and intentionally so.

I have read the terms of reference reported in Demerara Waves. Strong on the details: the loading; the boarding; seaworthiness and maintenance; compliance with maritime law; conduct and competence of the master and crew; the weather; the rescue efforts. Without exception, every one concerns the night of 18 July. Not one concerns the years before it. Your Commission will inquire exhaustively into a voyage without asking why that voyage was made in that vessel at all.

The MV Kalliopi N arrived in May, two months before the disaster. She is new, built for this service, and was assigned by your own Public Works Minister to this very Region One route. She lies at her berth still, awaiting a date for a commissioning ceremony convenient to you. Throughout those two months an eighty-seven-year-old hull built in 1939 carried our people to Port Kaituma, Morawhanna, Kumaka and Mabaruma, because she was their only lifeline. Your Minister has since called it unfortunate that the Barima went down before she could be replaced.

And what became of the earlier expectation that the MV Ma Lisha, commissioned in 2023 at some twelve point seven million United States dollars, would relieve the Barima of this service? If that was never her purpose, the country should be told what she was bought for while the North West kept a hull built for a long past era.

None of this was misfortune. These were decisions, taken by identifiable people who had new ships in the water, a designated route, and a river transport budget running into billions of dollars this year. Nothing in your ToR permits the Commission to examine them.

Please bear with me while I raise with you a few issues before you name the Commissioners tomorrow.

  1. The law under which this Commission is constituted. You did not say. This cannot be left open and unaddressed.
  • The investigation required under Part XVIII of the Shipping Act? Recall that I referred to this in my first Open Letter to you. It is a statutory obligation that has so far gone unused. It must be chaired by a Judge or Magistrate – not retired ones – with expert assessors, holding the powers of a Magistrate’s Court, able to cancel the certificates of those found seriously negligent. Parliament passed the law hoping that a disaster of this magnitude does not happen. It has, under your watch. That adds a moral dimension to a statutory duty.  
  • Enlargement of the Terms of Reference. It is vital not to exclude inquiring into the circumstances leading to the decision to keep the Barima in service, including why the Kalliopi N was not deployed on arrival and the decision that her activation was subject to your availability and the known condition of the Barima then. It is not enough that the country spends hundreds of millions on a report about a ship and not about a government.
  • The funding of your Commission of Inquiry. Under Articles 216 and 217 of the Constitution, no sum leaves the Consolidated Fund save as Parliament authorises. You hold the Finance portfolio yourself. The man appointing the Commission, writing its terms, receiving its report and deciding on its publication is also the man signing the cheque. Do you find that reassuring?

Two undertakings are also owed: that the report be published in full by a stated date, and that Minister Edghill and the Director General of MARAD stand aside while the Commission sits, and attend and answer before the Commission. You have no doubt read that the Minister of Education in India resigned over the leaking of exam papers. I am sure you recognise the principle and the contrast.   

And one direction that cannot wait. Every record touching this vessel – all the documentation required under Part XVIII – including surveys, certificates, manifests, maintenance logs, deficiency notices, and the files on the Ma Lisha and the Kalliopi N sit tonight in the institutions to be examined. Official accounts of how many were aboard have already varied. I ask that you now direct that nothing is removed, altered or destroyed, and that all be secured in independent custody. A government with nothing to hide loses nothing by giving that direction.

These documents are not merely material for your Commission. They are evidence in civil proceedings which the bereaved are entitled to bring, and the duty to preserve them arises now, not when a writ is filed. Their loss, alteration or destruction would carry consequences in any such proceedings, and for those responsible.

Finally, Mr. President, please reflect on this. A new ship sat at her moorings waiting for you. In its stead, an old one sailed without you and did not come back, with more than one hundred innocent and unsuspecting lives lost. The least the country and its Chief Citizen owe them is a full and independent investigation. Guyana has had inquiries whose findings the country never read, and inquiries that reached no higher than a junior officer. The Rodney Commission came thirty-four years too late, and its report was repudiated by the government that received it. Mahdia reported after the parents had already been made to sign. This one must serve the dead and not you, your Administration or your party.  

You may grant what I have asked. You may refuse it. What you cannot do, after tonight, is say that you were not asked.

Respectfully,

Christopher Ram

Georgetown, Saturday 25 July 2026

AN OPEN LETTER TO HIS EXCELLENCY DR. MOHAMED IRFAAN ALI, PRESIDENT OF THE CO-OPERATIVE REPUBLIC OF GUYANA

Mr. President,

The sinking of the MV Barima is, I believe, the worst maritime tragedy in our country’s history. Families have been devastated. Parents have lost children. Children have lost parents. Scores of ordinary Guyanese have perished. Survivors have endured unimaginable trauma. Every Guyanese shares their grief and extends heartfelt sympathy to all whose lives have been changed forever.

In times of grief, the nation expects leadership. In the hours immediately following the tragedy, Guyanese looked to the Government for clear information, decisive action and reassurance that every available resource had been mobilised. Instead, there was uncertainty, confusion, conflicting reports and official statements that raised as many questions as they answered. Attention appeared to shift too quickly from discovering what had happened to defending official action. That only added to the tragedy.

In any national disaster, Government’s first obligation is to activate a machinery capable of minimising further loss of life and damage to property, coordinating rescue efforts, providing timely and accurate information to anxious relatives – including through a dedicated hotline and ensuring that the public receives information that is accurate, consistent and credible. Only then can Government turn to the equally important task of establishing the truth.

That is precisely why Parliament enacted the Guyana Shipping Act, 1998. It recognised that when lives are lost in rivers or at sea, the search for truth cannot be left to official assurances or political debate. The Act itself is an elaborate piece of legislation establishing a statutory framework governing maritime safety, regulation and the independent investigation of marine casualties. It also separated the operation of vessels from their regulation by establishing the Maritime Administration as the country’s maritime regulator. My cursory reading of the Act is that it has been systematically ignored in practice. But that is a matter for another forum.

As the nation comes to terms with the scale of this tragedy, disturbing questions arise.

* Was the Barima properly maintained and operated by the Transport and Harbours Department?

* Had the Maritime Administration discharged its statutory responsibility to regulate and oversee the vessel’s safety to protect lives and limbs of passengers and crew?

* Were the vessel’s inspections, surveys and certificates current and fully compliant with the law?

* Had the Maritime Administration identified any deficiencies and, if so, what corrective action was required and taken?

* Did the Transport and Harbours Department comply with every statutory requirement governing passenger safety?

* How did the Minister, who bears responsibility for both the operator and the regulator, satisfy himself that each had properly discharged its separate statutory responsibilities?

* Did failures of operation, regulation, supervision or enforcement contribute to this disaster?

  • Does this concentration of responsibility within a single ministry compromise the independence of the regulatory process?

I ask you not to regard these as political questions. They are legal and factual questions, and we deserve and expect honest and factual answers.

The purpose of an independent investigation is not to assign blame before the evidence is heard. It is to ensure that the evidence is gathered independently, examined objectively and reported publicly. That is how confidence is built. It is also how future tragedies are prevented.

Mr. President, public confidence does not exist in a vacuum. Many Guyanese still carry unanswered questions from previous national tragedies, including the Mahdia Dormitory Fire which cost the lives of twenty of our children. There is a widespread perception that official investigations too often fail to satisfy the reasonable expectation that every relevant fact will be exposed and every lesson learnt. Against that background, the handling of the Barima tragedy assumes even greater significance.

There is another matter that deserves urgent attention.

Our maritime legislation still contains penalties that belong to another era. Conduct capable of exposing passengers to grave danger attracts fines that are derisory by modern standards. In an era when Guyana has become one of the fastest-growing economies in the world, such penalties neither deter misconduct nor reflect the value that our society places upon human life.  That is a matter for Parliament to correct.

But where statutory penalties are inadequate, the responsibility of the State becomes correspondingly greater. The families of those who perished are entitled not merely to sympathy but to justice. If regulatory failures contributed to this tragedy, legal accountability cannot end with outdated fines imposed upon individuals. It must extend, where the law and the evidence justify it, to the public authorities charged with protecting those who entrusted their lives to the nation’s transport system.

Mr. President, the Barima must not be allowed to become another national tragedy remembered only for grief and unanswered questions. It should be remembered as the moment when your Administration demonstrated, by action rather than words, that in Guyana the rule of law is stronger than official convenience, party interest and the protection of personalities. The families of the victims deserve the truth. The people of Guyana deserve accountability. History will remember whether your Administration chose official reassurance or independent scrutiny.

I therefore respectfully urge you to declare an appropriate period of national mourning in honour of those who lost their lives. Thereafter, and without delay, to establish an independent Commission of Inquiry under the Guyana Shipping Act, 1998, and to allow it to discharge its mandate completely independently, free from interference or influence of any kind.

That, I believe, is the surest way to honour the dead, comfort the bereaved and restore public confidence in the administration of justice.

Respectfully,

Christopher Ram

The Road to First Oil: Every Man, Woman and Child Must become Oil-minded

Column 194 – The Resource Curse Begins on a Farm (Part 2)

In Column 193, I argued that the controversy surrounding President Irfaan Ali’s farm at Long Creek is not fundamentally about agriculture. It is about governance in an oil-producing state. It raises questions that no presidential video, however polished, can answer. Those questions belong to independent institutions.

But Long Creek did not arise in isolation. It is the latest manifestation of a style of governance that has become increasingly evident during President Ali’s administration. The issue is not simply the acquisition or operation of a farm. It is whether Guyana’s institutions of accountability have kept pace with the extraordinary concentration of political and economic power that has accompanied the country’s petroleum transformation.

Every presidency leaves an institutional legacy. Some strengthen Parliament, reinforce the rule of law and enlarge the space for independent oversight. Others centralise authority, weaken scrutiny and leave institutions less capable of performing their constitutional functions. It is against that standard that every presidency should be judged, including this one.

The record is troubling.

Parliament, the central institution of representative democracy, has become progressively less effective as an instrument of accountability. The Public Accounts Committee, historically one of Parliament’s most important oversight mechanisms, has ceased to play the role contemplated by the Constitution and the Standing Orders. Public accounts have remained outstanding for years, depriving Parliament and the public of timely scrutiny of the expenditure of billions of dollars of public money. Parliamentary sittings themselves have become infrequent, often convened principally to facilitate the Government’s legislative and financial agenda rather than to provide sustained scrutiny of executive action.

Equally significant has been the weakening, or failure to strengthen, institutions specifically intended to hold the Executive to account. The previous administration established the State Assets Recovery Agency as part of a wider accountability framework. The Ali administration repealed that legislation and abolished the Agency. Whether SARA was effective is open to debate. Eliminating an accountability institution rather than reforming it sent an unmistakable signal about the direction of governance.

The promised Petroleum Commission has likewise failed to materialise. That omission is difficult to reconcile with the scale of Guyana’s petroleum sector. Every major oil-producing nation recognises that technical regulation should not rest exclusively within central government. Guyana, despite repeated commitments, continues without the independent regulator that has long been promised.

The same concerns arise in relation to access to information. A democracy cannot function effectively if the disclosure of information depends upon executive goodwill rather than enforceable legal rights. Yet the Office of the Commissioner of Information has never assumed the prominence or effectiveness that Parliament intended. Transparency remains more an aspiration than an institutional reality.

Perhaps no institution better illustrates the failure to modernise accountability than the Integrity Commission. Guyana is no longer the country it was when that legislation was enacted. The economy has been transformed by petroleum wealth, sophisticated corporate structures and unprecedented opportunities for the accumulation of assets. Yet the disclosure regime remains substantially frozen in time.

The declaration form itself is wholly inadequate for a modern petroleum economy. It is neither a comprehensive disclosure instrument nor a true statutory declaration attracting the ordinary legal consequences of sworn statements. It occupies an uncertain space between the two. More remarkable still, despite almost three decades of profound economic change, successive governments have failed to modernise it. If Guyana is serious about integrity in public life, the law requires more than cosmetic adjustment. It requires fundamental reform.

These institutional weaknesses matter because they coincide with the expansion of executive discretion in matters involving immense public resources.

Silica City is a striking example. Presented as one of the country’s flagship development initiatives, it has attracted commitments involving billions of dollars. Yet the public has received little comprehensive accounting of expenditure, procurement, implementation or measurable outcomes. Public confidence cannot be sustained where projects of such magnitude proceed without regular and detailed public reporting.

Long Creek therefore assumes a significance that extends well beyond the President’s private affairs. The question is not whether President Ali is entitled to own a farm or engage in agriculture. He is. The question is whether the Head of State, exercising enormous constitutional authority while simultaneously pursuing substantial private commercial interests, should be subject to disclosure standards more exacting than those applicable to ordinary citizens. The answer must surely be yes.

That is particularly so because the Presidency does not end when a President leaves office. The law provides substantial continuing benefits, recognising the enduring dignity and importance of the office. Those public privileges reinforce the need for rigorous conflict-of-interest rules and comprehensive disclosure obligations. Private commercial interests must never be allowed to collide with public office and authority, without transparent safeguards protecting both the office-holder and the public.

The issues raised in these two columns concern the architecture of constitutional government in a country rapidly developing by oil wealth. While the general rule is that every administration builds projects, only some leave behind stronger democratic institutions than they inherited. Future Presidents will inherit the institutions being shaped today. If those institutions are independent, resilient and capable of scrutinising executive power without fear or favour, President Ali will have made a lasting contribution to Guyana’s democracy. If, however, they emerge weaker, more dependent or less capable of holding the Executive to account, that too will become part of his legacy.

History’s verdict on President Ali will rest not only on the prosperity generated during Guyana’s first oil boom, but on whether he strengthened the institutions that protect the Republic or weakened them when they were most needed. If the verdict is the latter, Long Creek will be remembered not as a controversy over a farm but as the moment when Guyana’s Resource Curse ceased to be a theory and became both a constitutional and an institutional reality.

Finally, obvious as it is, it is still worth noting that a President governs not only by constitutional authority but by personal example. If legitimate questions about his own conduct remain unresolved through independent institutional scrutiny, his moral authority to demand the highest standards from Ministers, public officials and the wider public is inevitably weakened.

That is not only sad. It will be self-inflicted.