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Case against Exxon, Ramps Logistics over inflated invoice further adjourned
Kaieteur News – The court case involving ExxonMobil Guyana Limited (EMGL) and its former broker, Ramps Logistics Guyana Incorporated was further adjourned when it was called on Tuesday. The matter is set to return to trial on November 11, 2024. The matter pertains to a US$12.1 billion invoice submitted to the Guyana Revenue Authority (GRA).
Exxon and Ramps are facing similar charges related to a declaration made in November 2023, when Ramps, acting on behalf of Exxon, reported oil well equipment valued at US$4,467,662 but declared to Customs a staggering value of US$12,192,103,923.91.
The two companies made their last court appearance on September 26, 2024, before Principal Magistrate Faith McGusty at the Georgetown Magistrates’ Court. The case was initially submitted to Senior Magistrate Leron Daly but was transferred to McGusty due to Daly’s illness.
During the proceedings, Attorney-at-law Nigel Hughes, representing Exxon, requested a further adjournment for special reasons, which the prosecution agreed to. Consequently, Magistrate McGusty extended the trial date until Senior Magistrate Daly is expected to return.
Representatives from EMGL and Ramps Logistics made their first court appearance on May 10, 2024, after being summoned by the GRA. Steve Gentry, a manager at EMGL, and Mariska Jordan, a manager at Ramps Logistics, appeared before Senior Magistrate Daly where they were informed of their individual charges.
The allegations surfaced in late April when it was revealed that Ramps, contracted by Exxon to import oil well equipment, had allegedly submitted an inflated invoice, prompting an investigation by the GRA. Gentry has pleaded not guilty to charges stating that on November 16, 2023, he caused Exxon to submit a false declaration to the GRA, reporting the equipment’s value at US$12,192,103,923.91. Similarly, Jordan denied the charges against her, which allege that Ramps made an untrue declaration for the same value.
The significant discrepancy had raised concerns, particularly as it could impact oil profits if approved. Under the 2016 Production Sharing Agreement (PSA) between Guyana and the Exxon-led consortium for the Stabroek Block, Exxon is allowed to deduct 75% of revenues for cost recovery, with the remaining 25% shared as profit—12.5% to Guyana and an additional 2% royalty.
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