Internet Radio

Symposium to focus on corruption in the oil industry

Vicky Mc Pherson

Issues of corruption in the oil industry will be the focus of a two-day symposium to be held later this week in Guyana, according to the international law firm, Greenberg Traurig, LLP,

Vicky McPherson, a shareholder in the Washington, D.C. office of Greenberg Traurig, LLP, will be a panelist at a two-day symposium in Georgetown, Guyana on “Public Corruption and the Curse of Oil: Lessons from Developing Countries.”

The symposium, on July 5 and 6, is a partnership between the Caribbean Institute of Forensic Accounting, the Guyana Oil & Gas Association, and the African Business Roundtable.

The symposium comes at a time when there are concerns about the apparent reluctance by the Guyana government to officially release the Production Sharing Agreement between ExxonMobil and the Guyana government. Concerns have been also raised about whether Guyana’s negotiators have secured the best deal.

The symposium will explore why the oil industry in the overwhelmingly majority of developing countries is associated with widespread corruption, procurement and other forms of fraud, institutionalized tax evasion, and a range of other ingenious means to steal government revenue. McPherson will participate in panel discussions on how to protect sovereign interests and avoid these typical pitfalls. For more information about the conference, click here.

Topics will include “The Misuse of Offshore Structures in Laundering/hiding the Proceeds of Illicit Payments in the Oil and Gas Industry” and “How offshore trusts, companies and financial services are used to hide illegal payments, and best practices to prevent such payments.”

McPherson focuses her practice on commercial transactions. She is an integral member of the firm’s Africa Practice. She represents both private sector companies and sovereign interests in oil and gas transactions at various development stages – exploration and development, diversification, privatization, and sales. As part of her sovereign representation practice, she advises state owned enterprises concerning public private partnerships to develop the country’s natural resources.

Greenberg Traurig, LLP (GTLaw) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia and the Middle East and is celebrating its 50th anniversary.

One firm worldwide, GTLaw has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017, and among the Top 20 on the 2016 Am Law Global 100. Web: Twitter: @GT_Law.

  • Alesha Persaud

    I am sure you do a GOOD JOB – But what is the PRICE TAG? I am sure it is ALSO very BIG! Guyana always use their FUNDS in the wrong places…Either fulling politician pockets or someone will HIRE this FIRM with a cut back….Similar to the parking METER deal…..

  • Gtloyal

    We are now in a situation where we must welcome all the information we can get about the oil industry but which, however, must pass muster.
    Apart from the issue of corruption, the next most dangerous pitfall resulting from the exploitation of oil is the tendency for countries to start buying everything with its new found money, thus bringing the productivity of local industries to a standstill. This excess importation creates the illusion of development. The GoG, leading a people that prefers things foreign instead of local, must make sure that this does not happen. Oil and natural gas are nonrenewable resources and proceeds from them should be used to develop lasting industries.

  • Abia Ghiberti

    I would love to attend and share the knowledge and expenrience I’ve acquired working as an in-house counsel of a multinational oil and gas company in Africa for several years covering multiple countries.