AFC Leader says... Govt. engaging to 'cover-up' of financial skullduggery exposed in audit report on Exxon’s US$1.6B costs

AFC Leader says… Govt. engaging to ‘cover-up’ of financial skullduggery exposed in audit report on Exxon’s US$1.6B costs

Apr 07, 2023 News

Kaieteur News – Alliance For Change (AFC) Leader, Khemraj Ramjattan is convinced that the PPP/C Government is obsessed with using disinformation and outright lies to hide from the Guyanese people the financial skullduggery exposed in an audit of expenses incurred by ExxonMobil and partners from 1999 to 2017.

AFC Leader, Khemraj Ramjattan

Those costs total US$1.6B and were reviewed by British firm, IHS Markit. At a press conference on Thursday, Ramjattan referenced several stories which were published by Stabroek News in the past week regarding the audit report. The media house exposed that IHS flagged US$214M as questionable costs which the State has reasonable grounds to contest.

Ramjattan said: “we now know that the PPP was handed the report since March 2021. And it must have known that expenses totalling US$214M were questionable, and that Exxon was also in breach of its insurance requirements among other findings. The AFC has been indicating for some time now that the government has become strange bedfellows with the Exxon.”

He said the government’s rush to find excuses for its failure to release the document, exposes its close ties with oil companies as well as its interests in shielding them from public scrutiny. The AFC Leader recalled that when the People’s Progressive Party was in opposition, it had launched serious attacks against the 2016 Stabroek Block Production Sharing Agreement (PSA). Ramjattan said the PPP had deemed the PSA to be rottenest of deals and promised to renegotiate it once they assumed office. “Well it got into office and now sanctity of contract has replaced its promise to renegotiate. Its relationship with the oil companies is now almost incestuous,” Ramjattan said.

He said too that the government has avoided chastising Exxon for environmental violations concerning flaring activities on the Liza Destiny vessel and even for contract violations pertaining to its failure to provide full coverage insurance for the Stabroek Block. “Now it is engaged in a pathetic display of covering up from the Guyanese public, the reprehensible financial conduct (by Exxon and partners as) revealed by IHS Markit,” Ramjattan said.

The AFC Leader then reiterated calls for the release of the report, adding that every passing day this is not done, it reinforces the corrupt and lawless nature of the Executive. The Member of Parliament also criticised the government for failing to take any action against Exxon for the disputed costs raised in the report.

Ramjattan said, “When a little East Indian or Black boy snatches your chain for $25,000 that is called larceny. But when an oil giant denies a country this massive sum, it is called economics…it is now incumbent on government to release this report for public deliberation.” He said the failure to make the document public will only lead to a deformed transparency and accountability system. The AFC Leader also concluded that the earlier Jagdeo is removed from office, the better it is for Guyana.

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Alliance For Change (AFC) Leader, financial, Guyanese, Khemraj Ramjattan, skullduggery

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