National Oil Com­pany for Guyana would be a dis­as­ter – Jan Man­gal

Stabroek News Sunday - - RECENT EVENTS REVIEW SATURDAY, JUNE 30TH TO FRIDAY -

The cre­ation of a National Oil Com­pany (NOC) will be “a dis­as­ter” for this coun­try warns for­mer Govern­ment Ad­vi­sor on Petroleum, Dr. Jan Man­gal who says that Guyana should learn from the ex­pe­ri­ences of sis­ter Caribbean coun­tries, Trinidad and Tobago and Ja­maica. How­ever, the govern­ment says that it has been ad­vised by a num­ber of in­ter­na­tional or­ga­ni­za­tions, in­clud­ing Chatham House of the UK, that a NOC would be ben­e­fi­cial to this coun­try. “Here we go again with national oil com­pa­nies in the Caribbean. Both Petrotrin (Trinidad) and Petro­jam (Ja­maica) are in the news be­cause of cor­rup­tion,” Man­gal said as he urged Guyanese to not sup­port a call for the es­tab­lish­ment of one here. “Guyanese: Please re­mem­ber these two na­tions have much larger and bet­ter run economies than ours, and much stronger in­sti­tu­tions. Hence imag­ine what will hap­pen in Guyana, with our weaker ca­pac­ity, if el­e­ments in our govern­ment and their pri­vate sec­tor co­horts are al­lowed to cre­ate a national oil com­pany with ac­cess to our oil. It will be a dis­as­ter,” he added, point­ing to re­cent scan­dals in Ja­maica and neigh­bour­ing Trinidad and Tobago.

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