Guyana Takes US Oil Giant Exxon to Court Over Inflated $12 Billion Invoice | Firstpost America
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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Guyana | US Oil Firm | Exxon | Court Case | Firstpost America | Eric Ham | War | Geopolitics | Global Economy | Firstpost | World News | Latest News | Global News | International News | Trending News
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This is business as usual, the reason countries nationalize the oil.. then men like Bush and Trump act like honest men without showing the books that woukd show they are thieves.
😂😂😂😂😂😂😂
The guyanese government is to blame for this treachery. ExxonMobil should have never been allowed to operate in the first place. 🙄
Stop.xxonmobile.2.posent.cant.work.robery.
FAKE BS SATAN NEQS😅😮
He choose u s a when b r i c s is the better choist he should tell the country he made that choist he must be swell headed or over ambitious one or the other 😂😂
Now I know why they prefer China
https://www.youtube.com/watch?v=OiCj5zhX558
To the president of Guyana we need good drinking water and better living conditions
Guyana is not a South African country.
Guyana is located in the continent of South America.
Expell this broker company.Trinidian wants to fleese Guyanese.
Guyana needs to apply for windfall money 💰, which means extra cash that exxon mobile is making on barrell of crude oil
DONT NOT TRUST THE USA GOVERNMENT I REPEAT DO NOT TRUST THE USA GOVERNMENT
Wow!! How sad, the same they did to Venezuela & all nations trying to feed their people.
That's why Grenada chose Nigeria to extract their oil , never trust white clouds , it might be holding more rain than dark clouds , blood suckling leches
This is the robbery of country and citizens wealth in conspiracy between oil companies and corrupt politicians. That is Treason
They way this contract was designed was EXXON to take out it's cost before splitting the profits 50/50, who didn't think they will inflate the cost to eat up more profits. What they need to look at is across all oil companies to compare their cost, which would already high to hide their profits so their profits are not taxed heavily. However, at this point Guyanese should let Exxon know future contracts will be signed with their competitors and not them – unless they make a new deal.
Guyana tripled it's gdp since 2020
Exon Mobile another billionaire greed. They never have enough. Don't care about the poor Guyanese people.
Is anyone surprised? A clerical error, sounds more like fraud. Guyana will prevail.
US Company Always do the same things likes that's, don't do any business deal with American company, they cheat around the world in Iraq, in Libyan & other's
Guyana stop giving out ur Oil