Dear Editor,
As a public analyst and observer of global developments impacting Guyana and the wider Caribbean, I have been reflecting on the performance of the oil and gas industry over the past few years — particularly among top-tier organizations such as ExxonMobil, Shell Plc, Chevron Corporation, and Saudi Aramco. These industry leaders continue to play a defining role in shaping not only global energy markets but also the economic trajectory of developing nations like ours.
Reports from respected institutions such as the International Energy Agency (IEA), PwC, and Shell have shown that the world will continue to rely heavily on oil and gas for many years to come. However, this reliance comes with a clear mandate: energy must be produced with much lower emissions. The oil and gas industry is now at a historic turning point, where energy security, decarbonisation, and digital transformation are reshaping the global energy landscape. According to the IEA, the industry invested around USD 20 billion in clean energy in 2022 — representing roughly 2.5% of its total capital spending. This demonstrates a growing recognition that sustainability and innovation must work hand in hand to secure the future of the sector.
Taking these global trends into account, we in Guyana are already seeing how international developments influence our own emerging oil and gas industry. The recent job cuts at ExxonMobil and shifts in diplomatic relationships with neighboring producers such as Trinidad and Tobago illustrate how interconnected our region’s energy future has become. A Bloomberg report in August 2025 quoted John Ardill, Exxon’s Vice President for Exploration, as stating that the company aims to make Trinidad and Tobago the “energy capital of the Caribbean” once again. Such statements remind us that competition, partnerships, and regional cooperation all play key roles in determining our place in the global energy equation.
At the same time, the oil and gas industry continues to face major challenges — pollution, job losses, oil spills, setbacks in the fishing industry, and disruptions in revenue are just some of the pressing issues being felt across the world. These realities serve as a cautionary reminder that while oil wealth brings opportunity, it also brings responsibility.
Yet, despite these global headwinds, Guyana continues to see tangible benefits from its oil and gas industry and the related sectors it supports. The economic ripple effects — ranging from increased employment opportunities to improved infrastructure and foreign investment — have significantly boosted national development. For this progress, ExxonMobil and its partners deserve acknowledgment for their ongoing contribution to Guyana’s transformation into one of the fastest-growing economies in the Western Hemisphere.
As we move forward as a nation, may we continue to navigate these global and regional dynamics with wisdom and foresight. The journey ahead requires strategic planning, transparent governance, and a collective commitment to ensuring that the gains from our oil resources are equitably shared and sustainably managed for generations to come in Guyana.
Sincerely,
Blane Bunbury
