Not the right time to sign deal to market Guyana’s crude - Charles Ramson Jnr.

Not the right time to sign deal to market Guyana’s crude – Charles Ramson Jnr.

Apr 27, 2020 News

The Energy Department, which is controlled by President David Granger, is currently in search of a marketer for Guyana’s share of profit oil from the Stabroek Block.
Thus far, there have been 34 applications from major and national oil companies and trader.

PPP Member and Petroleum Academic, Charles Ramson Jnr.

But many transparency advocates have expressed reservations on this matter given the corrupt past of many of these companies and traders as well as the fact that Guyana remains gripped by political uncertainty as the credible and transparent recount of the March 2 electoral process is yet to start.
In their view, no agreements should signed as they can provide fertile grounds for corruption.
Speaking on this matter was PPP Member and petroleum academic, Charles Ramson Jnr.
The attorney-at-law was keen to note that all the companies seeking to market Guyana’s oil should lend serious consideration to the authority of the administration to even enter into such contracts at this point.
His comment was also hinged on the fact that it was Granger who, some months ago, said that his government would not enter into any new contracts.
Further to this, Ramson said there is no immediate need to run to market at this point especially when one considers that prices are at its lowest.
“So there are several elements to be considered, whether they have the authority to be engaging companies in this manner, and in my opinion, they don’t. And they need to be concerned about what can happen if there is a new government…”
In addition to this, Ramson was reminded that many of the companies bidding to market Guyana’s oil have a troubling history of corruption.
Companies including Gunvor, Shell, Petrobras, Sinochem, Vitol SA, Glencore PLC, and Mercuria Energy Group are just a few of the companies with a notoriously corrupt past that submitted bids to the National Procurement and Tender Administration Board (NPTAB).
Public documents show for example that three of the world’s largest commodities trading firms – Vitol SA, Glencore PLC and Mercuria Energy Group have used intermediaries to funnel over US$31 million in bribes to corrupt Petrobras employees so that they may win big contracts, along with acquiring other benefits.
Considering the foregoing, Ramson said, the perfect avenue is present for using the marketing of oil, especially during this time, for corrupt purposes.

BIDDERS FOR GUYANA OIL MARKETING CONTRACT
1. Gunvor
2. Bonroy Tetchem Co Ltd & Guyana Crude Oil
3. China Offshore Oil Singapore Int’l PTE
4. Enteq Resources
5. MAB Oil Limited
6. Hartree Partners LP
7. Mercuria Energy Trading
8. Shell Western Supply and Trading
9. Sacoil Energy Equity Resources
10. Mercantile and Maritime
11. Unipec America
12. BP Products North America
13. ExxonMobil
14. PPT Energy Trading
15. BB Energy
16. Freepoint Commodities
17. Sinochem
18. Cathay Petroleum Int’l
19. Heritage Petroleum
20. Concord Energy
21. PetroCo Oil
22. Totsa Total Oil Trading
23. Lukoil Oil Trading and Litasco
24. Core Petroleum
25. AISAA Petroleum Shipping
26. Century Tamara Energy Services
27. PetroChina International Brazil
28. Gladius Commodities
29. Equinor
30. Vitol
31. Glencore
32. Petrobras Global Trading BV
33. Interchem PTE
34. Aramco Trading