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ExxonMobil’s cost recovery list will shock Govt. – Jagdeo

Sep 16, 2018 ExxonMobil, News

As government continues to see ExxonMobil as friend, it will be left in a state of total shock upon seeing the list of goods and services along with the price they attracted when ExxonMobil files for cost recovery.
So said Opposition Leader, Bharrat Jagdeo, at his most recent press conference.
Jagdeo told the media that based on his interactions with the government and the comments he has been reading in the media, the APNU+AFC government is in way over its head with ExxonMobil.
Jagdeo said, “This government has a very vague understanding of what would be included in cost oil. If they see it they may be very shock because they have a very naive understanding.”
“Everything that Exxon does, we are paying for it. If they rent facilities and pay too much money for the rental–like they rent a house for $10,000 and it is only supposed to be $5000 per month, the $10,000 will come out of cost oil too.
“If they recruit a person and pay him $60,000 per month as a specialist when maybe on the market you can get the person for $30,000 per month, we are paying for the extra too. But there is a very naïve approach to the whole matter.”
Jagdeo said that because of this “naïve approach” Guyana will lose much money because when cost oil is inflated, profit oil diminishes.

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