Ram flays Pres. Ali for backpedaling on changing ExxonMobil deal

Jun 09, 2025 News

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…says citizens’ trust has been repaid with secrecy, arrogance, betrayal, and deception

Kaieteur News – Under pressure for his involvement in the alleged evasion of taxes by Businessman, Azruddin Mohamed, President Irfaan Ali has come under further attack, for his government’s mishandling of the economy and about-face position on the lopsided oil contract.

This assessment was made by prominent Chartered Accountant and Lawyer, Christopher Ram in a scathing letter to the editor of this newspaper. Mr. Ram said that the evolving posture of duplicity and convenience, denial and indifference, is part of President Ali’s playbook. “He campaigned on a promise to renegotiate the 2016 oil agreement– by far the worst in modern oil deals.” However, once elected, Ram said President Ali has hidden behind the doctrine of sanctity of contract.

Not only Ali, Vice President Bharrat Jagdeo back in 2019 as Leader of the Opposition had also committed to renegotiating the contract. He said thusly while being interviewed on 94.1 FM: “They sold us out to the foreigners – the oil companies. Every time there is a find there, our people should be sad because nothing comes our way. We are going to renegotiate those contracts because that’s not what we had in mind. When we were in the early days, we were coaxing the people (ExxonMobil and partners) to go along. They (APNU+AFC) came into office (and met) 3 billion barrels of proven reserves and then gave up zero royalty, no taxes, no ring-fencing, no local content for these people to spend any money here.”

He continued: “Paying our people GY$72,000 a month when the foreigner is getting US$10,000. Bringing water from California to drink here. We are paying for all that. Landscaping – they wanna contract it to a company coming from abroad and the Trinidadians and others are just walking in not only in the oil sector but they are getting all the prime lands too… So that is why I got back into politics. I’m not prepared to see this happen; I have no desire to be President again.” Guyanese have been demanding a renegotiation of the terms of the oil contract since the deal mostly favours the contractor. For instance, Guyana receives a meagre 2% royalty, one of the lowest known across the industry. Exxon and its contractors are also exempted from paying taxes. Meanwhile, each month, the oil companies can deduct up to 75% of Guyana’s oil to recover its investments. The oil companies still benefit from the remaining 25% which is split evenly with Guyana as profits.

Backpedal on investigation

Meanwhile, also called out the President and his party to abandon their pledge to investigate the circumstances into signing of the Exxon contract under the APNUAFC Coalition Government. Ram said that pledge has morphed into a refusal to release the Clyde & Company report on the agreement. “Groveling to his new masters, he refuses to exercise the government’s rights to apply ring-fencing, enforce relinquishment, and conduct serious audits. Audits are delayed, cost claims go unchallenged and published information by the oil companies are deceptive and misleading. Is that truly what the President thinks Guyanese deserve?” Ram said.

And most disturbingly, Ram said the President Ali government has refused to disclose who issues tax certificates to the oil companies – allegedly used to claim foreign tax credits in the United States. “This refusal shields the process from public scrutiny and makes the state complicit, perhaps even an accessory, in facilitating offshore tax evasion.” Ram also criticised the President over the recently enacted oil spill legislation, deeming it the worse as it completely ignores the environmental risks “to our neighbours – including one waiting for an excuse to pounce, should an offshore spill affect its territory.” The chartered accountant also cited government’s dismissal of citizens’ right to have a say in the Bill. “Is that the responsible and patriotic act, President Ali?’ Ram asked.

He said President Ali’s actions constitute a grave betrayal of the Guyanese public who gave him the privilege of being their leader. “When concerns were raised over the nature and speed of his academic qualifications, the public chose to look past them. And when the APNU+AFC coalition attempted to subvert the electoral process in 2020, Guyanese of all backgrounds defended Ali’s constitutional right to assume office. That trust has been repaid with secrecy, arrogance, betrayal, and deception. In an enlightened country driven by truth, principle and integrity, that betrayal should be cause for his resignation. By the same yardstick, he ought not to be re-elected.

Unfortunately, the several persons I spoke with this past week have all expressed pessimism about the future of the country. September 1 will tell us whether those fears are well founded,” Ram concluded in his letter.

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• Azruddin Mohamed, Backpedal, Exxon Oil dead, Guyana Oil, Tax Evasions

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