BREAKING: Guyoil’s management team uncovers multi-million fuel racket/fraud

September 12, 2025

The Guyana Oil Company has wrapped up an ongoing internal investigation, which has uncovered a systematic practice of under-reporting, theft, and falsification of records, which has caused the state oil company to lose millions in revenue.

BIG Smith News Watch has been informed that the probe began after management noticed significant losses being reported at the Providence terminal over a period.

According to sources on the ground, management was seen conducting tests on fuel levels, meter readings, and liters deposited into fuel tankers for retail distribution.

We were told that terminal employees at Providence were not aware that management was investigating acts of irregularities.

Management also infused several persons into the general population of the workforce at the Providence terminal in a quest to gather information and monitor suspicious movements and activities by those suspected of facilitating the fuel racket.

Mogas, Gasoil, ULSD, and kerosene are said to be the main commodities that were used to perpetuate the fuel racket and fraud against the company by the employees.

This publication was informed that, based on the developments, the Providence terminal head and his deputy were suddenly removed and replaced by another terminal head from the GUYOIL Essequibo operations.

BIG Smith News Watch has been informed that the Guyana Police Force is now investigating the matter.