Oil is a major discussion point ahead of Guyana’s September 1 general election. The ruling People’s Progressive Party/Civic (PPP/C) is campaigning on a platform of continuity, while opposition parties vow to impose stricter oversight and secure a greater share of the country’s petroleum wealth.
Five out of six parties vying for votes have released their manifestos, presenting a broad range of promises that focus on Guyana’s resource development and the management of its oil riches.
During the PPP/C’s 2020-2025 term, the government approved several major projects by ExxonMobil – Payara, Yellowtail, Uaru, and Whiptail. Landmark legislation was passed, including the Local Content and Petroleum Activities Acts, and a new model oil contract was introduced, increasing royalties and corporate taxes for future projects outside the prolific Stabroek Block.
The 2019 Natural Resource Fund (NRF) law was replaced in 2021, establishing a board of directors and streamlining the rules for withdrawing funds. The Oil Pollution Prevention, Preparedness, Response, and Responsibility Act 2025 was also enacted, making companies responsible for the full cost of restoration and damages following a spill.
Building on these achievements, the PPP/C government promised to review the Local Content Act, aiming to close loopholes and broaden the categories of work reserved for Guyanese companies. In its August 18 manifesto, the PPP/C reiterated its commitment to continue this review.
After completing its first offshore licensing round in 2023, the PPP/C government announced awards to several groups – including consortia led by ExxonMobil and TotalEnergies – but contracts have yet to be issued. The 2025 manifesto promises to conclude these awards and accelerate exploration in the new blocks.
Further, the manifesto pledges more international auctions, following the establishment of a Petroleum Data Repositor, which will feature contracted 3D seismic data.
An oil & gas technical training institute is under construction at Port Mourant, guided by the PPP/C government in partnership with ExxonMobil and SBM Offshore. The party promises to “continue aggressive training and capacity-building efforts”.
Oil production has soared during the PPP/C’s tenure. Guyana now produces more than 650,000 barrels per day (b/d), with installed capacity exceeding 900,000 b/d. Output is expected to reach that ceiling once the Yellowtail project, which began producing earlier this month, ramps up to full capacity.
ExxonMobil has completed a pipeline linking the Liza field to shore, a key part of Guyana’s Gas-to-Energy project. While an integrated facility – including a 300-megawatt (MW) power plant – has faced delays, completion is now expected by mid-2026, having missed the original late-2024 target.
PPP/C’s manifesto promises to finish and operationalize the Gas-to-Energy initiative, then expand it with another 300 MW power plant. The Wales estate, location of the onshore infrastructure, will also house a pipeline to send natural gas liquids (NGL) to a loading terminal for vessels navigating the Demerara channel. Procurement for this facility is already underway.
A major industrial complex in Berbice is also in the pipeline, conditional on Exxon’s development of nearby natural gas fields on the Suriname border. This ambitious project could include power exports and a floating offshore facility, but is pending Exxon’s development plans.
Contract renegotiation remains one of the most contentious topics in this election. The government has firmly rejected calls to revisit ExxonMobil’s 2016 production sharing agreement (PSA) for the massive Stabroek Block, citing contract sanctity as vital for investor confidence.
Several opposition parties, however, are campaigning to reopen the Exxon deal and secure a larger share of oil revenue. The A Partnership for National Unity (APNU) and Alliance for Change (AFC) – coalition partners until 2020 – have both pledged to seek renegotiation if elected. The APNU+AFC coalition signed the 2016 deal with Exxon, Hess, and CNOOC, and maintained its stance against renegotiation until leaving office.
The new We Invest in Nationhood (WIN) party, led by U.S.-sanctioned businessman Azruddin Mohamed, also backs renegotiation.
Despite these promises, none of the opposition parties has outlined a clear strategy for opening renegotiation talks, which would require the agreement of ExxonMobil. The company has repeatedly stated it is not prepared to renegotiate terms already agreed to and based on which billions of dollars are being invested.
Forward Guyana, led by former APNU member Amanza Walton-Desir, is more closely aligned with PPP/C’s approach, pledging to respect current agreements but leaving the door open for future renegotiation.
The PPP/C touts its 2021 NRF law as evidence of prudent management, claiming it improved transparency compared to the previous government’s framework. Opposition parties argue that further reforms are necessary.
APNU and AFC propose restructuring the Fund to ensure independent management, while Forward Guyana emphasizes audits. WIN advocates stricter withdrawal rules to maintain sustainable levels.
Oil spill liability and pollution prevention are also hot topics. The PPP/C secured a US$2 billion parent-company guarantee from Exxon, in addition to a US$600 million per-occurrence insurance policy and company liquidity to cover spill costs.
APNU and AFC say they would demand “full liability” coverage. The government and Exxon believe current safeguards are adequate.
On environmental protection, the AFC promises to ban the discharge of produced water to the ocean and reinstate a ban on routine flaring. Guyana is part of the World Bank’s Zero Routine Flaring initiative and its Low Carbon Development Strategy – routine flaring is prohibited except for commissioning, startups, and emergencies, with strict regulations and fines for breaches.
Exxon maintains that only minimal background flaring is conducted, necessary for project safety.
WIN says there should be no routine flaring and supports stronger environmental standards and transparency for impact assessments.
All major opposition parties call for the establishment of a Petroleum Commission – a step long postponed by successive governments. Forward Guyana goes further, proposing the creation of a national oil company to manage resources. The AFC promises to rebuild a specialized petroleum oversight unit within the Environmental Protection Agency and train staff for offshore operations. WIN links its oversight plans to the Extractive Industries Transparency Initiative (EITI), promising to align Guyana’s reporting deadlines and ensure civil society participation, which is already a part of the local EITI process.
APNU, AFC, and WIN demand more comprehensive reporting on petroleum production and contracts, arguing that current PPP/C disclosures are insufficient. Their manifestos call for broader transparency, including reserve estimates and quarterly reports from oil companies. WIN wants to create a centralized, searchable portal for petroleum contracts and publish detailed spending across sectors.
Currently, government expenditures are reported in Guyana’s annual budgets.
Opposition parties also stress the importance of human capital. APNU proposes a national skills audit, while AFC advocates for expanded training of petroleum professionals and waste management experts. Forward Guyana aims to deploy expert negotiators and expand local equity in joint ventures. WIN pledges to enhance training programs by hiring instructors, acquiring industry-grade equipment, and updating course curricula.
At the time of writing, the Assembly for Liberty and Prosperity (ALP), led by Simona Broomes, had not yet published a manifesto.
