ExxonMobil Contract worse than slavery … Oil Experts say Company went above and beyond to tie the hands and feet of every Guyanese like an iguana
Chartered Accountant, Chris Ram
When Kaieteur News examined the contracts, the oil giant, ExxonMobil signed with Guyana and compared it to the one it signed with the African country, Ghana, the disparities were alarming.
In fact, Kaieteur News consulted with several international oil experts who were all convinced that Guyana’s oil contract is worse than slavery. One expert even said that the company went above and beyond to tie the hands and feet of every Guyanese like an iguana.
According to Ghana’s oil agreement, ExxonMobil is not allowed to recover pre-contract costs. Yet, the oil company managed to entrap Guyana with a US$460M bill which dates back to 1999.
In Ghana, ExxonMobil agreed that there would be no limit to the audit to be conducted by the Government and its authorities. But in Guyana’s oil contract, the APNU+AFC Administration is limited to conducting one audit per calendar year.
Additionally, the African country made it very clear that all records in relation to the oil operations there must be kept at a specific location in the country. The Government of Ghana said that this sort of arrangement was necessary to ensure that there is a smooth flow of the audit process which can be initiated at any time.
Guyana, on the other hand,
