Trevor Bassoo has since denied kickback allegations, claiming persons out to tarnish his character

Trevor Bassoo, general manager of the Guyana Oil Company (Guyoil), has tendered his resignation with immediate effect in wake of a $600 million corruption probe under way at the state-owned oil company.

Bassoo’s resignation came on Tuesday after The Daily News exposed allegations of corrupt practices at the company.

Before his resignation Bassoo, who was appointed general manager of the company last November, was reportedly sent on administrative leave pending an investigation into the allegations.

Guyoil is Guyana’s largest petroleum distribution company, which has eight company-owned service stations and 42 dealer-owned stations, stretching across the length and breadth of the South American/Caribbean nation. Bassoo’s resignation was confirmed by Guyoil Board Chair Paul Cheong.

No reason given for the sudden resignation

He did not give a reason for his resignation but it is suspected that it stems from the corruption probe being undertaken.

Speaking with a local media company, Bassoo was quoted as saying, “I can safely say that someone or group of people are spreading propaganda in an attempt to discredit my character and create a distraction”.

It is alleged that there was a deal that went sour between the company and a supplier.

The Daily News investigated the matter and found no trace of a fuel business.

As a matter of fact, The Daily News found that the owner operates an elderly care facility in Diamond.

Guyana’s Minister of Finance Dr Ashni Singh earlier this week summoned Guyoil’s board of directors to an urgent meeting over the allegations of a fuel racket at the company involving Bassoo.

The matter broke when the alleged supplier claimed he was left with a large stock of fuel on hand after Guyoil refused to purchase it from him.

Guyoil issues statement on the matter

In a statement released to the media, Guyoil said it had come to its attention that allegations have been made in the media by Aaron Realty Inc. (ARI) that Guyoil had contracted the said company to supply fuel and stated that, “there is absolutely no truth to this allegation”.

The statement read:

“GUYOIL wishes to categorically state that whilst ARI was one of a number of companies which GUYOIL had discussions on the possible supply of fuel, GUYOIL has not at any time entered into a contract with ARI.

GUYOIL is pleased, in the interest of transparency and public disclosure, to set out the pre-requisite procedures in place and in practice which are followed by the company in the procurement of fuel from any entity:

• Competitive Procurement
• Due Diligence of the Supplying Company
• Purchase Order/ Contract;
• Nominated Quantity sent to Supplier with expected date of delivery;
• Quality & Quantity Surveyor Appointed to overlook the loading of the Cargo;
• Certificate of Quality/conformity with Technical Specification produced;
• Supplier sends Proforma Invoice (necessary for GRA to give permission to offload vessel);
• Certificate of Origin/ signed declaration that product was not sourced from embargoed country;
• Details of vessel to be used, the Q88 document;
• Detail report on the loading of vessel by independent inspector;
• Bill of Lading for the loaded vessel; and
• Updates from vessel on estimated time of arrival.

The Board of Directors has met with Dr. Ashni Singh, Senior Minister within the Office of the President with the responsibility for Finance and briefed him on the matter. The Minister has requested that the Auditor General be called in to investigate the allegations.

GUYOIL has also noted reports on the departure of the former General Manager, Jagmohan Bassoo. Mr. Bassoo offered his resignation to the company and the Board of Directors has accepted his resignation.

In the interim, a sub-committee of the Board of Directors has been appointed to oversee the day-to-day operations of the Company.

The Board of Directors of GUYOIL wishes to assure the public that at all times the Company will act in compliance with the Laws of Guyana and best practices as it relates to conducting its business