With international corruption watchdog Global Witness estimating a potential loss for Guyana of up to US$55 billion over the 40-year period of the licence for the offshore Stabroek Block, Change Guyana presidential candidate Robert Badal has said if he is elected to office he will set up a formal inquiry into the processes and negotiations surrounding oil and gas contracts.
“We must hold our government and state officials accountable for compromising our long term interest,” Badal said in a statement that was issued yesterday in light of recent reporting on Global Witness’s estimates and its appeal to block operator ExxonMobil to renegotiate the licence so that Guyana obtains a fair deal.
Stabroek News reported last Friday that Global Witness Senior Campaigner Jonathan Gant urged the renegotiation in a letter to Exxon’s Country Manager Rod Henson while asking the company to respond to a number of statements from an analysis done.
