“A Slap in the Face”: MP Dr. Terrence Campbell Blames Exxon’s Downstream Strategy for Fuel Crisis
By: Antonio Dey | HGP Nightly News|
GEORGETOWN, GUYANA — As the national fuel crisis enters its third day, a heated debate has ignited regarding corporate responsibility and the government’s ability to regulate international oil giants. Dr. Terrence Campbell, APNU Member of Parliament, has leveled a stinging critique at ExxonMobil, accusing the company of “slapping Guyanese in the face” by reportedly prioritizing global profit margins over the country’s energy needs, from which it extracts billions in crude.
Dr. Campbell’s assertions specifically target Exxon’s downstream operations—marketed locally through Mobil service stations—which have seen widespread closures and pump dry-outs over the past 72 hours.
The “Unprofitable” Market Theory
Dr. Campbell argues that the current shortage isn’t just a logistical hiccup, but a deliberate corporate choice driven by global price surges.
- Refined vs. Crude: The MP highlighted the irony of Exxon extracting record amounts of crude oil from Guyana’s offshore blocks while its retail arm allegedly finds the local market “unprofitable.”
- Global vs. Local Prices: With global refined fuel costs skyrocketing due to the Iran conflict, Campbell suggests Exxon is reluctant to sell its refined products in Guyana at lower, government-influenced prices, instead diverting supply to higher-paying markets.
- The Quote: “The same ExxonMobil that is making billions out of the Guyana economy… has now turned and said, ‘Hey, you know what? We don’t really want to sell our refined products in your market.'” — Dr. Terrence Campbell
The Regulatory Friction: GUYOIL vs. International Brands
A central part of the debate concerns the unique role of the Guyana Oil Company (GUYOIL), which functions as both a state-owned enterprise and a price regulator.
- Price Leadership: Historically, when global prices fall, GUYOIL drops its prices first. This forces international brands like Shell, Texaco (unipet), and Sol/Mobil to eventually lower their prices to remain competitive.
- Friction with Exxon: Dr. Campbell posits that regulatory pressure to keep local prices low has strained relations with Exxon’s retail business, leading to the current supply “bottleneck” as private retailers wait for better margins before committing to new shipments.
Criticism of the Guyana Energy Agency (GEA)
The MP did not spare the government, accusing the Guyana Energy Agency (GEA) of a “dereliction of duty” in its oversight of the sector.
- Insufficient Monitoring: Dr. Campbell accused the GEA of failing to accurately monitor fuel demand and communicate effectively with importers before the shortage reached a crisis level.
- Selective Enforcement: He further alleged that the GEA has been “quick to terminate” or selectively revoke fuel licenses rather than working with importers to ensure national energy security.
- National Security Issue: The APNU representative urged the government to stop treating fuel as a mere commodity and start treating its availability as a matter of National Security.
A Test of the Partnership
For Dr. Campbell and the opposition, the fuel crisis has exposed the “complex and sometimes lopsided” relationship between the state and its primary oil producer. As thousands of Guyanese remain in line at the few remaining functional pumps, the question remains: Can a nation that produces nearly a million barrels of oil a day truly afford to run out of gas? The answer, according to the MP, lies in stronger regulation and greater corporate accountability from those profiting most from Guyana’s resources.
