SHOULD investigations into the country’s latest ‘fuel scandal’ detect any malpractice or corrupt undertakings on the part of the Guyana Oil Company Limited (GuyOil), those found culpable would be dealt with condignly.
This assertion was made on Friday by Dr. Ashni Singh, Senior Minister within the Office of the President with responsibility for Finance, as he updated reporters on investigations being conducted into the allegations, which surfaced in the local media on Tuesday.
According to reports, the proprietor of a company named Aaron Realty Inc. (ARI) is claiming that he is now left with a large quantity of fuel on hand, after senior officials of GuyOil recanted on a commitment to purchase the substance. The fuel dealer claims that he even has evidence of the commitments.
On the other hand, GuyOil is insisting its innocence. Shortly after the allegations were made, Minister Singh summoned the company’s Board of Directors, Chaired by Paul Cheong, to an urgent meeting at his Main Street office. “The Board [of Directors] repeatedly emphasised that there is no contract with the company in question,” Dr. Singh related.
He noted that while there might have been some communication between particular GuyOil officials, no official agreements were entered into. “The board made that clear to me,” Dr. Singh added.

During Tuesday’s meeting, the board also outlined to the minister, the procurement procedures that are adhered to by the company. Following the meeting, GuyOil issued an independent statement which listed the pre-requisite procedures that are in place and in practice, relating to the purchase of fuel from any company. Those pre-requisites include competitive procurement, due diligence of the supplying company, purchase order/contract, nominated quantity sent to the supplier with expected date of delivery, certificate of quality/conformity with technical specification, proforma invoice which is necessary for the Guyana Revenue Authority (GRA) to authorise the offloading of any fuel from the supplier’s vessel, and a certificate of origin/signed declaration that the product was not sourced from an embargoed country.
Also, among the pre-requisites are details of the vessel to be used, the Q88 document; a detailed report by an independent inspector on the loading of the vessel; bill of lading for the loaded vessel and updates from the vessel on its estimated time of arrival.

NO CONTRACT

“GuyOil wishes to categorically state that whilst ARI was one of a number of companies which GuyOil had discussions on the possible supply of fuel, GuyOil has not, at any time, entered into a contract with ARI,” the company related.
Despite GuyOil’s defence, the Finance Minister moved ahead to request that an urgent audit be conducted by the Office of the Auditor General. “We have absolutely no tolerance in this government for any corrupt practices,” Dr. Singh emphasised.
He said that while he does not want to preempt the outcome of the investigation, whomever is deemed culpable of wrongdoings will face the requisite consequences.
“In the event that any inappropriate practices are identified, condign action would be taken,” the Finance Minister maintained.

After reports of the scandal began to make its rounds, General Manager of GuyOil, Trevor Bassoo, tendered his resignation to the company’s Board of Directors, forcing them to appoint an interim sub-committee to manage its day-to-day operations, and lead the search for a new General Manager.
Prior to official reports of him resigning, there were social media reports hinting that Bassoo was being sent on administrative leave in light of alleged corruption at GuyOil. He has since denied the allegations in a Facebook post.
“I wish to state that is incorrect. I also wish to advise that I have chosen to and have submitted my resignation to the Chairman and Board of Directors,” Bassoo said in his post. He also indicated his intension to solicit legal advice, “after which I will provide more information.”
Bassoo was appointed to the post of General Manager of GuyOil in October 2020, replacing Renatha Exeter, who had also resigned from the company.