WASHINGTON (Pakistan Point News / Sputnik - 04th February, 2020) Guyana will lose up to $55 billion since the country's government has made a deal with ExxonMobil that has been described as "exploitative," the watchdog publication Global Witness said in a press release.
"Exxon's exploitative oil deal with Guyana will cause the country to lose up to US $55 billion," the release said on Monday citing its investigation based on a data analysis from OpenOil.
Global Witness pointed out that Exxon used "aggressive tactics and threats" to pressure Guyanese officials to sign a deal for the Stabroek block license, which is considers to be one of the world's largest oil discoveries in recent years.
Exxon may have violated company policy, Global Witness said, for paying Guyana Natural Resources Minister Raphael Trotman to visit the company's headquarters in Texas, included paying a first-class flight, limousine transportation and a high-class dinner.
Exxon denies any wrongdoing in dealing with Guyanese officials, the release said.
Trotman's visit may constitute a conflict of interest because of his close ties to one of Exxon's Guyanese lawyers, Nigel Hughes, who denies any role in the deal.
The Global Witness has urged Guyanese government to investigate the deal with Exxon and its ministers involved in the negotiations in addition to seeking a new license that is fair as well as the US State Department to back new negotiations.
