Importer gives GUYOIL 48hrs to come clean on fuel import "agreement"

With the Finance Minister calling in the Auditor General’s office to probe the allegations of a fuel purchase scam at the state-owned Guyana Oil company, the fuel import company that triggered the probe has now written to GUYOIL, demanding that the company comes clean on the agreement between the two, within the next 48hrs.

In a letter to the Guyoil Chairman from the Law Offices of Dexter Todd which is representing the fuel import company, Royality Enterprises, the company is threatening legal action over the agreement since it has already imported the fuel that was reportedly requested.

The company has named a Director on the Board of Guyoil and a senior Finance Official of the company as the two persons who reached a verbal agreement with the company concerning “a soft corporate offer” for heavy fuel to be shipped to Guyana on or before the 17th April, 2021.

The company has also revealed that there was an exchange of emails between its Marketing Director and the former Guyoil General Manager Trevor Bassoo concerning the uplifting of the fuel which has already arrived in Guyana.

Bassoo has since resigned as the General Manager of Guyoil and has denied any wrongdoing, while claiming that there are attempts to stain his character.

The fuel import company’s position is that Guyoil has failed to honour the arrangement that was put in place for the supply and delivery of the fuel and the company has now found itself incurring additional expenses.

But speaking to News Source yesterday, Guyoil Chairman Paul Cheong said there are strict procedures for the company’s fuel purchasing agreements and there is no existing agreement with the company that has been making the claims.

Mr. Cheong said the issues raised by the company are important and that was one of the reasons behind Guyoil launching a probe of its own into the allegations.

As the probe started, the recently appointed General Manager resigned, triggering a meeting between the Minister responsible for Finance and the Board. The Finance Ministry has oversight for the state-owned oil company.

In a statement last evening, the Finance Minister announced his decision to call in the Auditor General’s office to probe the fuel importation scandal and the claims made by the fuel import company.

Minister Singh emphasized the need for the Company to act in compliance with the established laws and procedures in line with good governance, accountability and transparency.

During his meeting with the Board, he reminded that the Board is appointed to protect the interest of the Government and people of Guyana and it is what he expects of all State entities.

The Government, he said, will not tolerate any type of unlawful practices.

A sub-committee of the Board has been established to overlook the day to day operations of the company.