By Mark DaCosta- More than a year after Guyana received a US$19.6 billion audit of ExxonMobil’s oil costs, the Government is still withholding the findings from the public, prompting A Partnership for National Unity (APNU) Member of Parliament K. Sharma Solomon to demand an explanation for what he describes as an unacceptable failure of transparency and accountability over the nation’s oil wealth.
Solomon’s statement speaks to growing public frustration over the lack of information surrounding Guyana’s oil revenues and the costs being claimed by ExxonMobil and its partners.
While the Government has held the audit for more than a year, Solomon said there has been little public disclosure about its findings or the issues raised by the examination.
He rejected any suggestion that withholding the report protects the country’s interests.
“Silence is not transparency.”
Solomon said Guyanese have a right to know what is contained in an audit involving billions of dollars tied to the country’s natural resources.
The issue becomes more striking, he argued, because ExxonMobil continues to provide financial information to its shareholders while Guyanese remain largely in the dark about the audit of costs being recovered from Guyana’s petroleum operations.
“How can we stand by while ExxonMobil communicates significant updates to its investors, while we receive nothing from our own government?”
Previous audits, Solomon noted, have already demonstrated the financial stakes involved. An audit of US$1.7 billion in expenses identified US$214.4 million in disputed costs, while another examination of US$7.2 billion identified US$65.1 million in questioned expenses.
With the latest audit covering nearly US$20 billion, Solomon argued that the need for disclosure is even greater.
“No government should be so consumed with controlling information that it excludes those elected to represent the very people whose resources are at stake.”
He said Parliament should be treated as a vehicle for greater oversight rather than as an obstacle to executive decision-making.
“If government cannot resolve a matter of this magnitude on its own, then it has a responsibility to bring the matter into the national forum.”
Solomon is also demanding that the Government explain why the audit findings have remained unpublished for so long.
“If it lacks the technical ability to process the audit findings, then it must seek the necessary help.”
He rejected the notion that prolonged silence strengthens the Government’s position, arguing instead that transparency would put Guyana in a stronger position when dealing with ExxonMobil and its partners.
The APNU parliamentarian said several basic questions now require answers, including how much oil has been produced and sold, what expenses have been submitted for recovery, which costs have been disputed and how Guyana is calculating its share of the revenues generated from the country’s petroleum resources.
“Guyanese own these resources and deserve answers.”
Solomon also warned against treating accountability as a threat to government authority.
“We cannot afford a government that believes accountability weakens its hand.”
The dispute over the audit comes as Guyana’s oil sector continues to transform the national economy, with billions of dollars in petroleum revenues expected to flow to the State as production expands.
That growing revenue stream has made the auditing and verification of recoverable costs a central issue in determining how much money Guyana ultimately receives from its production-sharing arrangements.
For Solomon, the question is therefore bigger than one audit or one multinational company. It is about whether Guyana’s institutions are prepared to scrutinise the country’s most valuable natural resource openly and rigorously.
The longer the Government withholds the findings, he argued, the more difficult it becomes to convince the public that the national interest is being fully protected.
The demand now is straightforward — release the findings, explain the delays and allow Parliament and the public to examine the numbers.
For Solomon, Guyana’s oil wealth belongs to its people, and access to information about how that wealth is being managed is not a favour from government; it is a matter of public accountability.
