Guyana Takes US Oil Giant Exxon to Court Over Inflated $12 Billion Invoice

Guyana Takes US Oil Giant Exxon to Court Over Inflated $12 Billion Invoice | Firstpost America

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27 күн бұрын

Guyana Takes US Oil Giant Exxon to Court Over Inflated $12 Billion Invoice | Firstpost America
The South African country of Guyana is taking US-based oil firm Exxon Mobil Corporation to court. The Guyana Revenue Authority (GRA) has issued a summons to the oil giant over the misstated value of oil-well equipment. The tax agency claims that one of Exxon's suppliers, Ramps Logistics, said it mistakenly inflated the value of imported goods by 200 times to about $12 billion. Exxon and Ramps say the overvaluation occurred due to a clerical issue that denoted the sum in US dollars instead of Guyanese dollars, adding that the issue would be resolved. Meanwhile, Guyana's Vice President Bharrat Jagdeo asked the country's tax agency to check previous invoices for the past several years. Notably, Guyana is one of the fastest-growing oil-producing nations and the overvaluation could have had a significant impact on its profits.
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Пікірлер: 501

@cancerking9416 25 күн бұрын

Of course we all know it wasn’t a mistake, they think that the Guyanese people are fools!

@skp8748 25 күн бұрын

They are. They saw what happened to their neighbours in Venezuela and STILL chose to do business

@glynemartin 24 күн бұрын

@@skp8748 Assuming that you never saw what happens to nations that "play ball" with the U.S.?

@cancerking9416 24 күн бұрын

@@skp8748 that was the government and not the people! That is why there is a daily protest against it!

@bhajikhan7660 23 күн бұрын

No, they see they're weak.

@SteveXNYC 23 күн бұрын

Guyanese are great fools. If ExxonMobil never installed a oil rig it Guyana, Guyana would look worse than a 3rd world country. The people of Guyana are a nation and not a country is what the government leaders don't understand. Guyana independence went INVALID in 1980 for a GECOM management of guyanese people.

@jayr6839 24 күн бұрын

So let me get this straight Exxon makes 87.5% of the revenue of oil production while Guyana only receives 12.5%. That sounds like exploitation to me.

@RUTHLESSambition5 23 күн бұрын

Guyana signed it. They don't own anything. Wyte people own it

@Fintertainment-qz5dh 22 күн бұрын

That's Business!!! Margin margin margin... Mr. Ali go back to business school.🤣🤣🤣

@jayr6839 22 күн бұрын

It’s business alright, but I also know a bad deal when I see one.

@offinpublic007 21 күн бұрын

Guyana signed terrible deals. That's the way it goes

@THE01GC 21 күн бұрын

Suriname the neighbouring country of Guyana has the same deal

@rylonbaptiste8095 23 күн бұрын

Im a Trinidadian and i could safely say, THATS NO MISTAKE.. TIME FOR THIS RACKETEER TO END!

@avibhagan 20 күн бұрын

Yeah, so you realise that it's the opposition party in Guyana that signed this stupid contract right? Racism is why Guyana in this BS. Just like T&T. How shocking 😲. Who is the 'people', who trying to blame the current government in Guyana for the shit the opposition did when they were in power? Yes, racism is the MF problem.

@kayodebanjo 5 күн бұрын

This is what happens when you don't call in the Chinese, these Europeans are rogues

@selectashawn809 5 күн бұрын

my thoughts exactly

@rodniegsm1575 2 күн бұрын

200% mistake?? Really? Do american really think people are that stupid???

@ArchStandford 25 күн бұрын

They should have understood why chavez kicked Exxon out of Venezuela..

@jecinasema5190 23 күн бұрын

I am sure that you understand that Exxon is back in Venezuela, sorry my bad I mean Guyana. A rose by any name is still a rose.

@rgnldrse193 20 күн бұрын

ChaveZ did so because he wasn't getting enough financial kickbacks, only fools will believe he didn't or doesn't know of these inflated oil prices and oil manipulation. ChaveZ isn't innocent and is a greedy capitalist that sells out his country for personal financial gains as many do, and unless his own people overthrow him or ensures he disappears from political power, this region will be embroiled in a regional war, as in the case of Russia/Ukraine, Japan/tiawan, Iran/Iraq, as all these leaders have social ties with each other and follow the same power hungry ideology. Watch. People better act before it's too late, or even more deadlier than it already is.

@John_.Cabell_.Breckinridge 20 күн бұрын

He still allowed Chevron to stay, maybe they're a lot more reliable

@ArchStandford 20 күн бұрын

@@John_.Cabell_.Breckinridge Chevron stayed as they agreed to comply with Chavez's renegotiated terms and conditions as far as I know.

@WorldVidzz 5 күн бұрын

Do you think that Venezuela is doing any good? Lol

@Linda.xing-tj2fh 21 күн бұрын

It's quite a bold move. Wonder how it will pan out.

@Andres_853 21 күн бұрын

If they win, it could have a significant impact on Exxon's finances and possibly their stock price

@Tylerredn 21 күн бұрын

That could ripple through portfolios worldwide, especially those heavily invested in energy sector stocks.

@roseylumber 21 күн бұрын

Absolutely, investors need to stay vigilant. A sudden drop in Exxon's stock could lead to losses if they're not diversified. I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

@Annie2229 21 күн бұрын

Indeed. It's not just about picking stocks; the problem is that people don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.

@Larry1-pl2wq 21 күн бұрын

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

@angelobkoljenovic9528 25 күн бұрын

Guyana 🇬🇾 should not allow this people to in oil fields too still country profits

@justinfranklin254 25 күн бұрын

Yes. Instead they should allow Maduro to invade and there will be no more Guyana. Smart

@Syo-tc7kl 24 күн бұрын

What the fuck are you talking about

@Syo-tc7kl 23 күн бұрын

Wtf are you trying to say

@jaybajan 14 күн бұрын

They were trying to say, that Guyana should not allow these people into the country to steal the country's profits.

@jaybajan 14 күн бұрын

But little do they know. Guyanese government does not never did and never would have the tech and experience to drill and refine their own oil, that's why big oil companies do it for them. To set up an oil company takes vast experienced people and hundreds of billions of dollars. Which Guyanese government doesn't have

@medinacreativesolutions1634 25 күн бұрын

Please you can’t do business with these thieves

@TrueThatTucson 25 күн бұрын

Honor amongst thieves. The oil belongs to Venezuela.

@Syo-tc7kl 24 күн бұрын

@@TrueThatTucsonI don't think so

@TrueThatTucson 22 күн бұрын

@@Syo-tc7kl Essequibo belongs to who will populate it. I believe the Americans will prevail over the Asians and the Europeans laying false claim over the land and resources of Venezuela.

@mscliffhanger3885 25 күн бұрын

This is the second time that company Ramps tried defrauding Guyana

@randysingh6548 25 күн бұрын

Ramps trying to scam guyana. Exxon should replace Ramps with more credible company.

@nazeershaw66 22 күн бұрын

Exxon has already defraud GUYANA 🇬🇾🙌💯 worse oil 🛢️ contracting ever in Exxon history which is the best contract for Exxon 😂

@kernalexis9283 20 күн бұрын

That's how they thief money with their politician friends in Trinidad and Tobago. I applaud Guyana and their leadership. I hope they keep it up.

@MrEmmanueldje 18 күн бұрын

They should be kick out!

@stevesteve7162 8 күн бұрын

@@nazeershaw66when I heard the americans was helping you subconsciously I Saud to my self finally the Caribbean people gonna see how these ppl are because all of you seem to think these are such good ppl

@tanaka5395 25 күн бұрын

Guyana needs to be careful or a coup might happen

@leonfrancis3418 25 күн бұрын

Try it.

@RichardKing-sx6xc 24 күн бұрын

It's called bringing DeMoCrAcY and FrEdOm 😆😂🤣😅

@Syo-tc7kl 24 күн бұрын

@@RichardKing-sx6xc😂😂

@Fintertainment-qz5dh 22 күн бұрын

@@RichardKing-sx6xc Prosperity and Abundance!!!🤣🤣🤣 just sign the contract

@lgrthegreat1977 21 күн бұрын

They need to get that PPP government out anyway

@poovaneswaransupramaniam19 25 күн бұрын

As usual US oil supermajor modus operandi..... squeeze the little guy...and generate excessive profits

@The-Man-Right-Chea 25 күн бұрын

There was no mistake. They already had the excuse ready in case they c Got caught by saying it was submitted in the wrong currency

@jecinasema5190 23 күн бұрын

Yea right. If they had said Trinidad Dollars I might have given it some thought. As it is I just laugh out loud. Lambs led to the slaughter by the Redeemer.

@kedirassefa16 25 күн бұрын

This What happen you invited US mafia to your resources .

@jasonlives6923 25 күн бұрын

Right

@nickbroughton928 24 күн бұрын

I mean, don't include the rest of the usa in the greedy operations of some oil giant corporation. They do not represent the feeling of the US. Just the greed of investors. People here in the usa, believe it wrong too.

@jonathand.7878 22 күн бұрын

The Venezuelan resources

@dominiqueallums-farley6704 22 күн бұрын

Exactly..

@kaimanyu586 25 күн бұрын

Well, what can you expect, it's the West, they've been like this for centuries..

@patriciag6066 21 күн бұрын

Guyana needs to demand Guyanese is trained in this field and has to work along with these bastards.Glen Lall is not wrong...No errors it's thieving them doing ..Get all these oil contracts revised.

@evil_inside1332 20 күн бұрын

Glenn Lall? You mean the guy who shot and killed a man in cold blood by "accident" I wonder in Kaiteur News has a licensed shooting range at La Penitence to back up his story

@sherryanncarrington4414 19 күн бұрын

Exactly

@ashakuldip1657 6 күн бұрын

Yes.

@user-ms2ic7nc3i 24 күн бұрын

Thòse in charge in Guyana know what is going on

@RB-eo4eq 24 күн бұрын

Well no need to wonder why countries end up nationalizing oil reserves. Exxon is in a shark feeding frenzy at the expense of Guyana’s People.

@brucebrand3068 21 күн бұрын

As we say in Guyana that's not a mistake that's a beefsteak. 😢😢

@Bernard-km1nd 25 күн бұрын

That's just the beginning

@williamkunte5361 18 күн бұрын

Wow 😳

@dhanrajmohan701 24 күн бұрын

Public comment..Guyana must investigate and over see every invoice and expenses..transparency and accountability regarding expenses by ExxonMobil . Guyana 🇬🇾 government must get back every dime of money. Don't allow ExxonMobil to violate the rules and regulations and laws . Stand firm against corruption practices.

@csinghimports5268 25 күн бұрын

Ramps Ramps Ramps not to be trusted

@daggerin4life726 25 күн бұрын

Never trust a Trickidadian.. !!

@phillipdaguiar_01 25 күн бұрын

@@daggerin4life726 You are correct.......

@augurcybernaut4785 22 күн бұрын

It’s Indians in Exxon Trin Guy

@whz366 20 күн бұрын

@@augurcybernaut4785Exactly. Racketeering as usual by those east indians.

@alexb8926 Күн бұрын

@@daggerin4life726😂😂😂

@rhinochino 25 күн бұрын

They intended to steel.

@johnhouston9764 25 күн бұрын

steal is theft; steel is a metal

@MrRobertzingela 25 күн бұрын

@@johnhouston9764 LOL....

@haileselassie9630 24 күн бұрын

@@johnhouston9764So u understood de message? Y den waste ya energy?

@Syo-tc7kl 24 күн бұрын

They do not need to steal the Guyanese president, will give them whatever they want as long as they fill his pockets,ALI Is corrupt

@lelandarcher4760 23 күн бұрын

An example of the no child left behind policy of Guyana's education ministry 😢😮😢

@dogsbestfriend9096 24 күн бұрын

Exon bought Guyana government off along with all the Lawer’s that matters…😢

@newtonpeart8573 22 күн бұрын

They need to take them to court for the blatant theft perpetrated on the nation!!!

@OGChrissvg 24 күн бұрын

Clerical error my azz.. exxon gotta pay up

@glynemartin 24 күн бұрын

Good on Guyana!

@sabprogroup8623 15 күн бұрын

And if Guyana don’t comply, USA wont supply Guyana with arms and military aid to deter Venezuela. It’s all gonna make sense if you have not figured it out yet. USA will pretty much allow Venezuela to advance into disputed territory of Guyana and then Guyana will have to make choice. Lose territory or make a deal with Exxon.

@NOSAY094 24 күн бұрын

Thats a terrible deal! Guyana need to buy their own equipment

@phillipdaguiar_01 25 күн бұрын

Please do a Special Report on how a previous Gov't signed a "Lopsided Contract" with EXXON under alleged dubious conditions.

@marvinpercival4717 24 күн бұрын

Maduro

@bgoodorhell4u 19 күн бұрын

They would not 😂😂😂😂 you could buy the previous administration with bananas.

@RajSingh-ro9vu 6 күн бұрын

The dunce pnc signed this contract

@nicolaablett7790 19 күн бұрын

BRAVO GUYANA USA and its companies as well as behaviours are showing the truth whether they alike it or not

@human8454 25 күн бұрын

Guyana needs freedom 🦅🇺🇲

@Peace-ok7xo 25 күн бұрын

12.5% smh

@sal8349 21 күн бұрын

A Trinidadian always has to be the one that’s corrupt.

@sharsasuke01 21 күн бұрын

If Ramps has done this before why are they still doing business with them?

@jatinpatel1224 25 күн бұрын

Glory to Guyanese people. Aum Shanti, Shanti Shantihi.

@Gt_Vibes445 20 күн бұрын

🇬🇾 we need to get rid of Exxon there’s too many other options available for us

@medinacreativesolutions1634 25 күн бұрын

Please break ties

@Fintertainment-qz5dh 22 күн бұрын

Impossible!!! they just got a fish🤣🤣🤣

@lelandarcher4760 23 күн бұрын

We need a renegotiation of the contract 😮

@ar123..._ 24 күн бұрын

I do not believe this was a mistake they have been doing this to poor countries for years and discontinues to happen. Guyana need to negotiate the deal that the previous governor or government made because that was a dumb stupid deal 2%, who gets the other 98% this is wickedness.

@EYES2CU 20 күн бұрын

So Guyana is solely dependent on external sources for extraction of the oil but Ramslogistics should be terminated for this was done in the past and it happened again so when is Guyana going to learn.

@naudiaworme4323 21 күн бұрын

BOOM...YES GUYANA. THEY THINK WE STUPID.

@ArchStandford 20 күн бұрын

They already caught you lacking

@hughgraham6587 2 күн бұрын

Great move

@sorahbrowne1534 19 күн бұрын

They have gotten away with a lot, not any more.God.is now looking out for us. They should leave Guyana.

@junaidabbu7610 20 күн бұрын

Give the oil away to anyone else rather than dealing with an unethical people

@greentees1804 24 күн бұрын

To remedy future clerical errors, fine Ramps 10% of overstated amount. No need for court.

@MyPrimeone 24 күн бұрын

They got caught with their hands in the cookie draw

@sheltonwilliams1373 24 күн бұрын

Us always try to out smart the Caribbean countries.

@tattoomarc1000 23 күн бұрын

Are u listening Trinidad brought the declaration with Exxon they too are apart of this

@user-jq2of2qw6f 22 күн бұрын

🤣🤣🤣. Now it's not working for you guys!!! but Mr. Ali the head of CARICOM is making decisions for HAITI under U.S command.🤣🤣🤣.

@staywoke9172 21 күн бұрын

@@tattoomarc1000 they brought them together but Exxon change the price on them.

@whz366 20 күн бұрын

This happens all the time. CARICOM and Trinidad better be careful.

@ahuramazda323 6 күн бұрын

I'm very disappointed Ramps is implicated with this.

@romeogibson8794 20 күн бұрын

Obviously it would mean exxon gained more profit snd guyana less... how can they say no harm was done?

@MrAni02 6 күн бұрын

That profit margin is so bad, someone at Guyana is making cut backs from Exon.

@namkebanyanklariti 17 күн бұрын

Good. Hold them accountable too much stealing.

@dudleynoble9615 24 күн бұрын

🇯🇲💯Who else Exxon do the same thing to ?? Over to you African country

@newtonpeart8573 22 күн бұрын

I think Equatorial Guinea with its corrupt government.

@rali-cassim2733 20 күн бұрын

That's why you don't invite their military in Guyana. Its not about Venezuela alone. 🤫

@lennoxdarrell7148 5 күн бұрын

No Mistake Blatant Theft Driven by Greed.Some Mankind is Never Contented.

@AK-wt3jj 25 күн бұрын

What a dump deal 😅

@anthronthompson4020 25 күн бұрын

MISTAKENLY……Riigghhtt!! 🤔🤥herd that before how is it that their the only ones that can make mistakes 🤔

@SocaNick 9 күн бұрын

Someone taking oil from your country and you having to share 25% of the profit sounds like some serious exploration

@sabprogroup8623 15 күн бұрын

Guyana is gonna realize who it’s real friends are and who the opportunists are.

@emeraldwilson3789 24 күн бұрын

They needs to renogociate the contracts its the right time for it.

@AlphaBarry-wf9im 12 сағат бұрын

This is one of reason why big companies get rich by stealing. that is why when they go down they go down big.

@theneophytejournal 20 күн бұрын

hold up, no one notice at all that cake at 2:16???

@vinnyhendrix1683 20 күн бұрын

Clerical error= sorry bro…😂 I was just playing to see if you were paying attention. My bad bro. 😂😂

@topmedicalshop 23 күн бұрын

Wish Guyana a good luck, ask Nigeria, Angola ,Lybia, Iraq and the likes what it means for a developing nation to dine with the devil... They need to nationalize their oils exploration and refinery like aramco and invest the profit in a sovereign wealth funds like norway otherwise they would end up a rich but poor nation like Gabon ...

@LeonNeuton 3 күн бұрын

They got caught in a lie!!! It's their modus operandi🤬🤬🤬🤬🤬

@juniorbitare3041 5 күн бұрын

I kind of believe it was a mistake, simply because of how blatant it is and how obviously they would get caught…

@humbleone4227 19 күн бұрын

YES GUYANA!

@randhirpersaud4342 13 күн бұрын

Please do report on Guyanese teachers strike for livable salaries. 😊 Guyana teachers on strike presently. 😊🇬🇾

@mastergems5145 18 күн бұрын

Awwee sh$t. Here we go... Better pay for local security.

@skp8748 25 күн бұрын

Hahahaha SHAME THATS WHAT YOU GET.. THEY DONE THIS TO VENEZUELA AND YOU DIDNT CARE

@warwickdude1 20 күн бұрын

I was waiting for this

@xfactor6099 24 күн бұрын

this is american debt trap

@princegwatkins 24 күн бұрын

An 8 billion dollar clerical error? Really?

@scotts5886 12 күн бұрын

Yeah well..when Trinis get involved in business you can expect to get the shaft from them.

@trinifuhso7939 21 күн бұрын

What will be the repercussion tor Trinidad company ramps

@ronaldross-sv9hm 24 күн бұрын

We're all watching to see what comes out of it 😳😳😳😳

@threewest5498 19 күн бұрын

US will just issue out free visas and everyone will be fine

@haylonharroo913 19 күн бұрын

That's great dont come an take everything like them do Trinidad an Tobago

@changeiscoming5227 24 күн бұрын

WHAT A BRAVE MOVE ITS ABOUT TIME GUYANA TAKE DRASTIC MEASURES AGAINST THE GREEDY EXXONMOBIL.

@MyPamela2000 21 күн бұрын

All North American countries do this to the 3rd world countries ppl. They think third world are stupid. They are bullies that is why they are not at peace. Earn hugh salaries but still not satisfied.

@kenblack4258 19 күн бұрын

It was done with the approval of the oil sheikhs why do you think there is no renegotiation of the oil contract even for the new finds

@victortoba-ogunleye4056 Күн бұрын

What if it was just a mistake? A 12 billion dollar misktake to a tiny country seems more like a mistake than malice.

@MRMRCEE75 24 күн бұрын

Sounds like the economic hit men got Guyana. I pray the country remains stable as you know a crisis can be manufactured like Haiti for theft resources. Pray for peace and fairness.

@newtonpeart8573 22 күн бұрын

Maybe Venezuela is thinking how they are been robbed.

@erickmoenga1206 18 күн бұрын

That's what they have been doing in Africa as well

@earnesthillsdale9218 4 күн бұрын

Because this is not the first time .

@brianschultz2787 20 күн бұрын

They should sue ExxonMobil for that contract also,,it sgould be 50/50,but I stand with them on this

@fearlesswild 20 күн бұрын

This guy issa g

@paulinesingh7885 21 күн бұрын

Never..never...expected .....

@warro35 22 күн бұрын

Thanks to Glen Lal

@barbarasingh8708 24 күн бұрын

who they want to show they going to court, no doubt it's a clerical mistake , they become so honest now , HALLELUJAH

@sheltonwilliams1373 24 күн бұрын

Exon do it on purpose, them must sue them.

@MrRoop45 25 күн бұрын

Crooks and scammers....? Check them out thoroughly.

@kernejordan6454 25 күн бұрын

Lol Trinidad again. trickydadions

@sleepinggiant5876 23 күн бұрын

😂😂

@paulinesingh7885 21 күн бұрын

I expected Exxon to give more protecction instead of ..... .my God please help the Leaders and people of Guyana... one time is was Venezuelas problem.. now come Exxon...when Exxon supposed to be protecting Guyana.. my God...🙏🙏🙏🤲

@richardchiemerie9950 18 күн бұрын

This is what Oil companies are doing to Nigeria but Nigeria government took away people from Igbo ethnic group that are intelligent enough to detect the smart tricks from foreign oil companies. Now Nigeria has not recirded any profit from oil sale for 5years.

@user-go7zy3fc5f 18 күн бұрын

This contract was screwed from the beginning. 12% and 2% goes to Guyana. Exxon is a Con.

@user-go7zy3fc5f 18 күн бұрын

The reporter actually said the name right Guy-anna

@lincolnm2.0 9 күн бұрын

I wonder who gets fired for that huge mistake.. trini again......

@sharsasuke01 21 күн бұрын

2:15 Why baby girl double cheeked up on the oil rig like that?

@OGSAFUNKATEER1901 4 күн бұрын

It wasn’t a mistake it was done on purpose. This is what all companies do to the US government who pays out and doesn’t really care or check because we the people pay for their wasteful spending.