Jagdeo rejects attempts to link PPP to the signing of lopsided 2016 PSA agreement

– Says claims are unfounded, fabricated

General Secretary, Dr Bharrat Jagdeo has vehemently rejected the latest narrative by political adversaries and commentators, that alleges the People’s Progressive Party (PPP) secretly supported the conditions of the lopsided 2016 Production Sharing Agreement (PSA).

This claim, birthed from Raphael Trotman’s book ‘From Destiny to Prosperity’ asserts that Jagdeo, as Opposition Leader, secretly agreed to the tax waivers proposed in the agreement.

However, the PPP’s general secretary rubbished the allegations, highlighting that the former minister vaguely referred to an unnamed source that suggested the opposition was in support.

However, “Who told him this? the GS questioned, dismissing the claims as baseless and dubious during his press conference on Thursday.

He further highlighted that it comes as no surprise, since these are concerted efforts by the party’s opponents to discredit the successes of the government, as the 2025 General and Regional Elections approaches.

“They’re trying to link us back to this bad agreement that they signed, because our tenure and stewardship of the oil and gas sector is characterised by the gas-to-energy project that we’re working on, the Local Content Law, the new Petroleum Activities Bill …. It’s positive. And somehow, to get rid of all this strong record, we had secretly agreed because a vagrant told Trotman,” Jagdeo  expressed.

*PARLIAMENTARY DEBATE*

The PPP GS further reminded of a parliamentary debate held in August 2016 where the coalition government presented a one-page motion to the National Assembly late in the evening at 7:55pm, seeking affirmation for the tax waivers. The debate started at 11:55pm.

It was the then opposition members, Gail Teixeira and Odinga Lumumba who protested the lack of transparency, and by extension the PPP opposition.

Jagdeo further relayed that it was the opposition that demanded the scope of the tax waivers but received inadequate answers.

The PPP was also incessantly calling for transparency in the signing of the agreement, demanding the full release of the 2016 agreement.

“The track record will prove differently; they did not release this agreement until a year and a half later after it was signed, after they had a big public uproar led by the PPP, with me as Opposition Leader,” Dr Jagdeo recalled.

The 2016 Agreement received widespread condemnation following the revelation of its conditions,  including a two per cent royalty rate and zero taxes on ExxonMobil’s revenues, among other shortfalls.

Based on reports, it was signed in June 2016 but was only revealed in December 2017, despite pressure from the opposition, media and the public.

During this period, the coalition government reportedly collected US$18 million for a signing bonus, but was later called a gift.

In contrast, the PPP/C Administration has introduced comprehensive legislation to govern and manage the oil and gas industry, exemplifying its responsible management of the oil and gas sector.