Jagdeo slams Gov’t for cancelling oil exportation contract – says move unwise

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Opposition Leader, Bharrat Jagdeo said that Guyana only has a mere 24 days fuel reserve capacity, pointing that the decision to revoke an oil exportation licence granted to China Zhonghao Inc is not a wise move for the country.

Jagdeo made this comment at a Wednesday afternoon news conference at his Party’s Robb Street, Georgetown headquarters.

Opposition Leader Bharrat Jagdeo
Opposition Leader Bharrat Jagdeo

According to the Opposition Leader, it is odd the Government would want to deny a company which wants to invest in Guyana’s bulk fuel storage capacity, noting that the State oil company, Guyana Oil Company (Guyoil) having a measly 14 days storage capacity, which simply means, if the country is unable to import fuel for more than three weeks it will be out of supply.

“Some countries try to encourage people to build more storage… we have 24 days of storage capacity. We should encourage people to invest and build more storage capacity. The Chinese can’t fetch away the tanks when they build them there, they can’t fetch them back to China, they are investing in our country,” he argued.

The former President rhetorically questioned why the Government would go after a legitimate company, which was intended to boost Guyana’s low bulk fuel storage capacity.

Jagdeo also lambasted the APNU Administration for what he described as a duplicitous approach, pointing to a recent statement by Foreign Affairs Minister Carl Greenidge, who said that the Governments of Guyana and Brazil were holding discussions to approach the Chinese Government to fund the Linden to Lethem Highway contraction and other infrastructural projects in Guyana.

“So on one hand there is this big assault on the Chinese companies … and then on the other hand they are looking for money from the Chinese Government to build the road from Brazil to Guyana and the other infrastructure… looking for money from the Chinese Government and on the other hand chasing away all the Chinese investors,” Jagdeo highlighted.

Jagdeo urged the Chinese Ambassador to Guyana to intervene and say clearly to the Guyana Government that the harassment of Chinese investors must cease.

Jagdeo also made it clear that if any company, Chinese or otherwise, break the laws of Guyana in anyway, then they must be sanctioned; however, the Government must not target these companies because of a hidden agenda.

 

5 COMMENTS

  1. PUPPETS will be here forever.They cannot and will not think for themselves.It is the democratic right of this Coalition or any other government to check,look over or scrutinize any document(s) it feels so to do.Jagdeo has no authority whatsoever to dictate or query its action concerning the oil contract licence.These are intelligent individuals who are capable of making sensible decisions.

  2. After 23yrs in office could you tell use how The sheriff get he billions without oil even start, You worship the ABC in 1992 when they installed your criminals into office,now you crying foul because OIL in the horizon and 3 P out of control, you seem to have the answers from the opposition but you were silent for all the years they were in office. I feel your pain you creeps not getting your paws on the oil, RIP along with the 3p ,,

  3. Say and do what you like one cannot escape the Chinese! The larger economies
    going this direction!

  4. This is typical APNU government. Is the same way they behaved with the Indian Consultants.They fired them from GUYSUCO/Skeldon and then they went to India for a loan.This APNU government biting the same hand that is feeding them.

  5. Jagdeo you are absolutely correct. The Americans Installed the current leaders and want FULL control of ALL the OIL wealth Guyana has…This is VERY VERY poor business by the current administration ONLY allowing the ABC countries to suck out Guyana wealth and not open the OIL to other countries. The economy is already going backward, they will send Guyana into Bankruptcy and suck the oil out cheap….paying Guyana a small 10% since it does not have refinery. They will then installed MCDONALDS, TIM HORTONS and hook the local people and the 10% will be right back into their pockets….Future generation to come in Guyana will be doomed because all their wealth will be sold and they will be left to plant rice and pick coconut for a living…..

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