“Learn from our mistakes” – Trinidad warns Guyana on oil industry

first_imgGuyana has been warned of impending corruption within the oil and gas sector, after being told that it should heed Trinidad and Tobago’s mistakes and shortcomings.This warning came from Trinidad and Tobago Transparency Institute (TTTI) Chairman Dion Abdool on Saturday evening. In his address to the Transparency Institute of Guyana Inc (TIGI) annual fundraising dinner, Abdool called for an independent third party to be responsible for reconciliation and accounting of revenue and transactions.Trinidad and Tobago Transparency Institute (TTTI) Chairman Dion Abdool addressing the audience at Saturday’s dinner“This is of paramount importance, and there must be an independent third party looking at the revenue coming from the corporation that is extracting the oil and from the entity – the Government – that is receiving it,” he stated.Abdool proposed that the independent third party should be the Guyana Extractive Industries Transparency Initiative (GEITI). “Like TTTI, the Guyana Transparency Institute sits at the EITI table, they must insist for transparency and accountability in the reporting of the revenue so that there can be no tax leakage. Learn from our lessons well in Trinidad; it will redound to your benefit,” the TTTI Chairman urged.Abdool’s suggestion came as a result of Trinidad and Tobago’s Energy Minister identifying “tax leakage” as the reason behind a drop in revenue; this drop was initially thought to be caused by a simple decline in production.Additionally, Abdool urged that Guyanese be aware of entities within their own country, noting that “rip-offs” can come from locals, rather than just foreigners. As an example, he cited Trinidad’s recent experience of a fake oil scandal. He explained that an audit of the State oil company found that the country was swindled of millions of dollars within a few months.“In just a few months, they found that the volumes recorded by and reported and based on which the extractor was being paid were wrong to the tune of many, many millions of dollars. Learn from our experiences,” he pleaded.“Disclosure is in everyone’s best interest. The absence of information leads to mistrust. All may be well, but the mere fact that the information is not available leads to mistrust in the public’s mind.”Abdool said this to highlight that it was integral for data to be readily available in order to build and maintain trust between citizens, corporations, and Government.There are also plans to equip Journalists with the requisite training so that they could play a part in the anti-corruption cause.last_img read more

Man City told £17m will get defender, plus club activate £20m release clause

first_img 6 6 6 Lucas Hernandez: Club to activate Atletico defender’s release clause? Click the arrow above, right, to see more Man City transfer rumours – According to the Sun, Guardiola is ready to activate the Frenchman’s release clause, believed to be in the region of £20million. The 20-year-old made 16 appearances in all competitions for Diego Simeone’s side last term. Leroy Sane: Schalke winger to decide on future – Guardiola and City are big fans of the 20-year-old winger and hope to progress with a deal later this week, report the Telegraph. After the conclusion of Euro 2016, Sane can make a decision on his future and he could be added to the existing competition of attacking players at the Etihad, along with Nolito who arrived from Celta Vigo. Leonardo Bonucci: City to seek alternatives to Juventus defender? – According to ESPN earlier this week, Serie A giants Juventus are asking for too much money to prise Bonucci away from Turin. The Citizens are wary about paying over the odds for a 29-year-old, despite Guardiola being a big admirer. Bonucci impressed for Italy at Euro 2016 but City may be forced to look elsewhere for their investment, such as John Stones or Lucas Hernandez. Bruno Peres: City told to pay up for the Torino defender – The full-back is attracting interest from City but the Serie A club have reportedly told Etihad chiefs to stump up at least £17million for the 26-year-old Brazilian. He impressed in Italy last season, making 33 appearances in all competitions, even chipping in with three goals. He would add competition to the ranks at City, with Bacary Sagna and Gael Clichy current first choices, with Pablo Zabaleta set to leave. 6 6 Man City fans face an exciting summer judging by these transfer rumours.Now Pep Guardiola is at the helm, the club are being linked with the game’s very best players and have already snapped up two quality players in Ilkay Gundogan and Nolito.BEST DONE DEALS SO FAR IN 2016It appears the club are far from done, however, and here, talkSPORT has more rumours for supporters to digest.Remain up to date with the latest transfer rumours here or listen to the Transfer Centre on talkSPORT 2 every weekday from 1pm here. Marlos Moreno: Atletico Nacional forward to join then be sent on loan – City are set to sign the Colombian for just over £8million and loan him to Deportivo La Coruna, according to the Manchester Evening News. The 19-year-old has been attracting interest from across Europe and it appears City are going to win the race for his signature. 6 Marc-Andre ter Stegen: Guardiola to raid Barcelona for a new goalkeeper? – The Mail Online reports Guardiola is weighing up a move for either of Barcelona’s goalkeepers. His doubts over current first choice Joe Hart has been widely reported and the 45-year-old is set to raid his former club for Ter Stegen or Claudio Bravo. The duo have shared the main role at the Camp Nou over the last two seasons and are reportedly unhappy about the current situation. Bravo is 33, while German shot-stopper Ter Stegen is 24 years old. last_img read more