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Jagdeo as opposition leader approved of Coalition’s massive tax giveaway to Exxon – Raphael Trotman reveals
Kaieteur News – During his tenure as Opposition Leader, Dr. Bharrat Jagdeo was a prominent and unwavering critic of the previous APNU+AFC administration. He consistently claimed that the former regime had unduly granted significant concessions, essentially selling out the nation’s patrimony to a consortium led by ExxonMobil in the oil rich Stabroek Block.
Chartered Accountant, Chris Ram
But did Dr. Jagdeo play any role in facilitating such concessions to Exxon and its partners? This implication is hinted at by the former Minister of Natural Resources, Raphael Trotman, in his revealing new book, “From Destiny to Prosperity.”
Chartered Accountant and Attorney-at-Law, Christopher Ram is undertaking a thorough review of Trotman’s publication. In a recent segment of his analysis, which appeared in Stabroek News, Ram shed light on a pivotal revelation about Jagdeo from Trotman’s work.
The columnist, referring to Chapter V of the book which deals with the Stabroek Block Petroleum Agreement wrote, “The chapter discloses that prior to the tabling in the National Assembly of the Order to approve the tax concessions specified in the (Stabroek Block) Agreement, he (Trotman) had been informed that the Leader of the Opposition had been “briefed” on them and ‘would offer no objection.’” Trotman did not name the Leader of the Opposition but at the time it was now Vice President Bharrat Jagdeo.
The column continued, “Trotman claims that unanimous approval was granted on August 8, 2016, more than 15 months before the agreement was released to the public…” In light of the foregoing revelation, among others, Ram told this newspaper, in a brief comment, that it underscores all the more a need for a Commission of Inquiry into the APNU+AFC’s mishandling of the 2016 agreement.
The order mentioned by Trotman was also reported on by this newspaper on August 10, 2016. Former Finance Minister, Winston Jordan had moved the motion to apply section 51 of the Petroleum Act, which allows for the waiver of the application of certain laws in favour of licensees with whom the government has entered into production share agreements.
Jordan had said too that the order provides investors with the necessary comfort and assurances that the agreement will be respected in its entirety. Since the signing of the 2016 PSA, ExxonMobil and its partners which include Hess Corporation and CNOOC Petroleum Guyana Limited, have unlocked over 11 billion barrels of oil equivalent resources. The partners also have over US$40B invested for five sanctioned oil projects. It is currently in discussions with authorities to approve a sixth development worth almost US$13B.
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