Even as the nation awaits word on the first two audits of oil expenses, the government has determined that all questionable claims still not justified by the company in the IHS Markit audit of expenses from 1999-2018 would be disallowed, actions which could possibly trigger the US oil major moving to arbitration in a holdout to not pay, sources close to the process say.
Sources close to the process told the Stabroek News that both audit reports have been completed and ExxonMobil has been given time to respond “and flesh out with government the questionable expenses.” The company has returned the reports, but was still holding out on expenses not justifiable.
While the sum of the questionable expenses was unclear in the US$7.3 billion audit for the period 2018-2020, the one covering 1999-2017 had identified over US$214 million in unjustified claims.
