Commission GRA to monitor pumping of oil by ExxonMobil
Several transparency advocates have been seeking answers on how the government intends to go about monitoring the pumping of oil by ExxonMobil so as to ensure what is submitted by the company on paper, is an accurate reflection of what is taking place on the rig.
In this regard, Minister of State, Raphael Trotman assured that the monitoring will be performed by the new petroleum commission and the Guyana Revenue Authority (GRA). The Minister said that both parties will have trained personnel as well as support from multilateral financial institutions that will be assisting Guyana in this regard. Additionally, the Natural Resources Minister said that the Government has been paying attention to media articles which have been highlighting the track record of the US oil giant around the world. Asked if he was concerned about the company’s past and if this has any influence in its approach with the entity, Trotman said, “The government is as always concerned about the track record and behaviour of companies elsewhere. In the case of Exxon, Hess and CNOOC (China National Offshore Oil Corporation) we have not found any untoward behaviour being exhibited. This however should not cause us to be complacent and this is why we are relying on the world’s best experts to provide advice.” The Natural Resources Minister said that all focus now is on preparing for production and building regulatory, legal, fiscal and technical capacities.
It was only last week that GRA Commissioner General, Godfrey Statia confidently expressed that the revenue entity will be more than able to keep track of ExxonMobil. Statia acknowledged that while GRA has encountered issues with hauling in some local tax evaders, he insists that “ExxonMobil is a different kettle of fish.” In this regard, he emphasized that ExxonMobil’s operations will see the oil and gas sector eventually running 50 percent of the economy. Given this significant role the oil and gas sector is expected to play in the country’s economic development and wellbeing, Statia said that rigid systems are being put in place from GRA’s end. This he said, is all to ensure that the nation is not cheated in any way of the taxes that it is entitled to.
(Kaieteurnews.com)