Kaieteur News, Ram & McRae, Guyana Times & Sleep In Hotel among local companies cashing in on ExxonMobil’s business

Kaieteur News, which has been executing an unrelenting daily anti-Oil & Gas campaign, is among the hundreds of local companies that have been cashing in on ExxonMobil’s multi-billion-dollar investment in the Guyanese economy. Ram & McRae, which is owned by vocal Oil and Gas critic Christopher Ram, is another of the Guyanese companies making hay from the oil giant’s spend in Guyana, as is Guyana Times and Sleep In Hotel.

227 Guyanese owned companies have been benefitting from ExxonMobil’s business here. These companies, and some individuals as well have been providing a wide range of products and services to the oil giant. Among the dozens of services provided are fabrication, transportation, accommodation, graphic design, catering, legal services, security, accounting and auditing and media services.

In addition, there are 27 CARICOM owned companies, 15 of which are registered in Guyana that are also engaged by ExxonMobil. Another 42 foreign owned companies, 20 of which are registered in this country do business with ExxonMobil Guyana.

The Government of Guyana, last Friday, released to the Natural Resources Committee of the National Assembly, the list of 227 local companies which ExxonMobil has been doing business with for the first quarter of 2018. This is in addition to some 309 Guyanese owned companies which ExxonMobil and its contractors engaged in 2017.

Dozens of CARICOM and foreign owned companies, which employ hundreds of Guyanese, have also been providing goods, products and services to ExxonMobil and their contractors.

The vast majority of the companies which are benefitting most from ExxonMobil’s business comprise of Guyanese small businesses. It is clear that the trickledown effect is that thousands of Guyanese who are either employed or connected to these companies directly are benefitting from ExxonMobil’s presence in Guyana.

ExxonMobil is required to submit to the government, on a quarterly basis, the list of companies it engages. ExxonMobil has been meeting its obligation to submit the quarterly lists to government since the commencement of their operations in Guyana.

Editor’s note: Click here to see list of companies and service providers engaged by ExxonMobil and its contractors.