Guyana already has a national oil company. It is called GUYOIL . Read below.....
GuyOil declines comment on allegation it abused fuel duty exemptions
The state-owned Guyana Oil Company Limited (GuyOil) has declined a request to comment on allegations by the Guyana Revenue Authority (GRA) that it abused excise tax exemptions on fuel to skirt tax obligations.
When Stabroek News made contact yesterday, a representative of the GuyOIl public relations department said that the company had no comment.
In a letter to Minister with responsibility for Finance, Dr Ashni Singh, dated March 2nd and seen by the Sunday Stabroek, GRA Commissioner General Godfrey Statia said that a 2017 investigation discovered that Rubis, GuyOil and SOL Guyana were allegedly misusing the Permit for Immediate Delivery (PID) system by commingling exempted fuel with fuel not exempted or partially exempted so as to avoid paying taxes owed on the required basis.