By Tabora Bojang
Yesterday was the turn of the national fuel storage company Gam-Petroleum in the National Assembly inquiry into allegations of bribery and tax evasion by three companies, Apogee FZC, Creed Energy Limited and Ultimate Beige Logistics, suspected of importing and selling petroleum products in The Gambia worth $30m without paying taxes.
The product was in a Russian ship in the Atlantic Ocean before it was brough to The Gambia.
Appearing before the enquiry, General Manager of Gam Petroleum Yero Jallow, began by the telling NAMs that his company had a deposit agreement with Apogee to store their products at the depot as they would for any trader with the right products.
According to Jallow, the original arrangement was for them to supply product to somebody who needed it but that original sales deal collapsed while they are already here. “So they had to look for alternatives, which is normal in oil and gas business, and so they looked for a terminal to store the product and that is when they came to us and they came at a time when we also needed the product,” Mr Jallow said.
He added that following the storage of the petroleum, they received subsequent ‘release orders’ from Apogee, a Dubai-based company to release the petroleum to buyers.
According to Mr Jallow, Gam-Petroleum’s deposit agreement with Apogee came at a time when the country was facing a “fuel crisis” between March, April and May 2023. But he said because of the circumstances, Apogee came to the country and his company had to take extra steps to “do certain things they don’t do with others.”
“We went to the extent of ensuring our team boarded the vessel before it came to the depot and obtained samples to verify whether the product is up to standard,” he said.
He said following their assessment, they realised the petroleum product was of “best quality” and it has made a good impact in the market.
Asked if Gam Petroleum management had conducted due diligence on the credibility of Apogee before establishing relations with them, GM Jallow said: “As a storage facility, we don’t go deep into investigating people’s identity beyond what they have provided. We only request certain documents which they have provided and we establish relations and sign the agreement”.
Jallow added that Gam Petroleum does not have the resources to investigate every trader they deal with. “That is why we don’t care too much because we are only holding their property and only control the product after the agreement,” he added.
“The trader is trading the goods. They don’t need to establish themselves in a country before they come in. So why would we need to look into the credibility? What concerns us is the product, and whether it is good or not,” he said.
Asked to give names of persons who acted as facilitators for Apogee during the sale of the products, GM Jallow said the company has its own facilitators, Aurimas Steblys who acted as Apogee’s commercial director and one Nana who represented Ultimate Beige Logistics, a Ghanaian company registered in The Gambia.
GM Jallow’s testimony at this point was marred by tense arguments with several lawmakers repeatedly using parliamentary Standing Orders to bring the witness to track.
At one point, Mr Jallow accused NAMs of having a “preconceived mind” against Apogee which was why they were not getting his points.
That accusation was taken up by nominated member Kebba Lang Fofana, who stated that the committee is approaching the investigation with impartiality and an open mind. He asked Jallow to withdraw his statement, which he did.
Mr Jallow then continued to reveal that 75 percent of the shares of Gam-Petroleum belong to GPA, SSHFC, GNPC and Ministry of Finance while the remaining 25 percent is owned by Star Oil Group.
Asked how Star Oil Group managed to own such large shares since it newly came into the Gambian oil market, Mr Jallow said this was in place before his appointment.
The session was suspended with the witness expected to appear again.
