‘Exxon’ boasts having spent over $77.5B on Guyanese

EXXONMOBIL reports having spent $77.5 billion on Guyanese-owned businesses since 2015, and grown its workforce to reflect a local-content capacity of over 56 per cent.

That’s according to Company officials during the virtual opening ceremony of the “Guyana Suppliers Forum 2021” on Monday.
Of the total sum expended on Guyanese-owned businesses thus far, Exxon says, approximately $31 billion was spent in 2020 alone on some 806 companies, representing an approximate 29 per cent increase on the over $24 billion it had reportedly spent in 2019.

“We are very proud of the progress that we have made with local content. Over time, we have progressed efforts with continued growth in hiring and development of personnel, and expansion in the area of supplier utilisation in three years, growing from less than 500 Guyanese personnel to over 2300, and from less than 100 vendors to over 800 vendors in 2020,” Company Production Manager Mike Ryan shared during his video remarks at the Forum.
According to Ryan, notwithstanding the constraints of dealing with the COVID-19 pandemic, which greatly affected the economy in 2020, the ‘Exxon’ workforce grew to over 4100. The over 2300 Guyanese at the company, he said, represent a 21 per cent increase in Guyanese labour when compared with the 1900 that were on the team in 2019.

Oh Yes

Exxon paid US$5.6B in income taxes in 2020 – Guyana got nothing!