Former Energy Minister calls for caution in take over of Venezuela's Petrojam shares

Strong advice has been given to the government as it contemplates the legal action which is looming over its planned compulsory acquisition of  Venezuela's shares in the oil refinery Petrojam.

Attorney-at-Law and former Energy Minister Clive Mullings, is urging that the representatives and negotiators for the government and all the other parties involved urgently meet and examine the issues.

His comments are in reaction to the escalation of  the controversy surrounding the proposed acquisition.

Yesterday the Gleaner reported that one of  the potential purchasers is warning of  legal action against the government because the law for the acquisition, if  passed, would be unconstitutional.

This would be based on the circumstances surrounding the acquisition of  the shares which are deemed as property under the law.

“First and foremost what needs to happen here is that the emissaries need to meet or to exchange letters concerning the development. I’m not sure how this would go down based on the fact that the government has expressed that they will be taking a certain approach. What you don’t want is other entities coming out and saying we want this and we want that. The government needs to speak clearly, let the Venezuelans know what they want…..”said Mullings who was a guest on Beyond the Headlines. 

He   also pointed out that legal advisors and other government officials need to huddle and strategise at this time, adding that the information in the public domain is incomplete and may draw some suspicion.

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