During a recent meeting with ExxonMobil, the People’s Progressive Party (PPP) made it clear that it does not want anything to affect the timetable the Stabroek Block operator has for first oil. This was revealed yesterday by Opposition Leader, Bharrat Jagdeo during an engagement with members of the press.

At his Church Street Office, Jagdeo said, “We had a meeting with them and I told them we don’t want the timetable for production to be affected. If you can start producing in November or June next year, go ahead…But none of the resources could be used before elections because there will be no budget.”

The Opposition Leader told the media corps that the revenue from oil should be placed into an escrow account and properly guarded until the next President is installed. Jagdeo also noted that the Opposition would not be nominating a member to serve on the oversight committee for the Natural Resource Fund for it is illegal. In this regard, he reminded that the government rushed to establish it after the No-Confidence Motion was passed on December 21, last.

Jagdeo further stated, “We have made it clear that we are not participating in an architecture that is illegally established…The framework also vests too much control in the Minister (of Finance) and we will repeal that and recreate the structure so that it is bi-partisan…”

Additionally, Jagdeo said that Exxon was informed of the PPP’s position on campaign financing. In this regard, Jagdeo said he told the American oil giant that they should not give any financial support to any party for the upcoming elections.

ExxonMobil has also iterated its position on several occasions that it is not in the business of campaign financing.


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