Jagdeo refuses to direct media to Exxon’s assets register

Apr 26, 2024 News

Kaieteur News – Vice President (VP) Bharrat Jagdeo has refused to direct the media where they can access Exxon’s assets register to be able to scrutinise the billions in assets, which he claimed that company has.

Vice President, Dr. Bharrat Jagdeo

On Thursday, at his weekly press conference at Freedom House, Jagdeo was asked by this publication: “A few weeks ago, you said that Exxon has too many assets for you to list to support the billions you said they have in assets. Can you say or direct us to an asset registry where we can go to basically scrutinise these billions in assets that you claim Exxon has?”

In response Jagdeo said: “I deal with that issue already, today is a short day. Move on. You can put your headline Jagdeo refuses to point out where the asset registry is. You go do your research, why do I have to baby you all the time?” “There is no pride in researching for yourselves? Do I have to do your work as a journalist and a newspaper? Move on! I am getting a bit tired, I have a lot of work that you do research for you in the Kaieteur News,” he said. Recently, the VP was asked by this publication at one of his press conferences to list the assets, but instead shifted his attention to the assets of Hess – a 30 percent shareholder in Guyana’s Stabroek Block. Jagdeo said then, “If I have to list the assets of Exxon, have you read the balance sheet, have you gone to the financial statements and look at the balance sheets? You should look at that. I have to list every asset that they have and considering something else. We talk about the book value of the assets, let me just give you an idea. You’ve heard about the merger between Chevron and Hess…”

Former Head of the Environmental Protection Agency (EPA), Dr. Vincent Adams had mocked the response provided by Jagdeo that Guyana could sell US$20B in assets owned by ExxonMobil Guyana to cover costs associated with an oil spill that occurs in the Stabroek Block.

Attorney-at-Law and Chartered Accountant, Christopher Ram had also exposed the true value of ExxonMobil Guyana Limited’s (EMGL’s) assets, compared to the highly inflated figure spouted by Jagdeo. Ram had explained to readers of his weekly column that as at December 31, 2023, the net assets of ExxonMobil Guyana amounted to US$7B. The lawyer also pointed out that Jagdeo’s statement of a merger between Chevron and Hess is also wrong, since it was a takeover by Chevron.

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Assets, Exxon, Jagdeo, oil spill, Register

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