The APNU’s Economic and Youth Policy Advisor, Elson Low on Thursday accused the government of deliberately concealing vital information regarding Guyana’s oil reserves.
This follows a recent interview by former Minister of Finance and current Chairman of the Wales Development Authority, Asgar Ally, where he noted that approximately 15 billion barrels of oil discovered to date. This he said is 4 billion barrels more than what was stated by ExxonMobil back in 2022 during its last resource upgrade.
In response, Low did not mince words as he pointedly accused the government of withholding crucial data on oil reserves, citing a lack of transparency and accountability. He lambasted government officials for their refusal to disclose updated figures, suggesting a deliberate attempt to obfuscate the true extent of Guyana’s oil wealth.
“The government’s refusal to disclose updated figures is a blatant disregard for transparency and accountability,” he said.
Drawing attention to statements made by industry partners, Low highlighted discrepancies between reported reserves and the potential yet to be uncovered. He pointed to the government’s silence on the matter as evidence of a systematic effort to conceal valuable information from the Guyanese people.
Low emphasized, “So to me, this is a just an attempt by the government to dodge really proper planning, but also it is critical to note that it seems that the government is afraid to even deal with these increased reserves because one it will increase Guayanese’ demands upon them because they believe and rightfully so.”
Low also emphasized the importance of understanding the full extent of Guyana’s oil reserves for effective planning and policymaking. Contrary to assertions by government officials, he argued that comprehensive knowledge of reserves is essential for informed decision-making and long-term economic planning. He emphasized the need to anticipate future discoveries and prepare accordingly to maximize benefits for the Guyanese people.
