Opinions

Background Budget 2022 is the largest budget in Guyana’s history and the first to draw down from the oil revenues sitting in the Natural Resource Fund (NRF) that was recently passed in the National Assembly. During the budget debates, a...

By Simon Flowers - Chairman, Chief Analyst & author of The Edge at Wood Mackenzie Brent is trading near an eight-year peak, putting oil once again front and centre for investors, consumers and the global economy. Where does the oil...

By Dr. Lorraine Sobers - OilNOW Guyana is no longer the ‘wimpy kid’ on the playground with the second lowest gross domestic product (GDP) in the region.  Over the last 5 years Guyana has had a major growth spurt and...

By Wazim Mowla - OilNOW  The revenue from Guyana’s oil and gas reserves are key to tackling its and the rest of the Caribbean’s climate change challenges. Addressing the effects of climate change boils down to securing needed financing at...

By Arthur Deakin - OilNOW  In late January, the Guyanese PPP administration introduced a U$2.6 billion budget for 2022 where it will consume 100% of the funds stored in its Sovereign Wealth Fund (SWF). By year’s end, the SWF will...

Guyana’s energy sector for 2022 will be characterized by two significant developments. Within weeks the second phase of oil production will start at the Liza Phase 2 Development with a production ramp up of approximately 220,000 barrels of oil...

By A. Bacchus In early 2018, I was fortunate enough to attend the first oil and gas conference and exhibition that was held in Guyana. At that point in time, ExxonMobil had made about six viable discoveries, and it was...

Summary Guyana’s Natural Resource Fund institutional and Governance framework are in line with the IMF’s recommendation and the models adopted by some of the largest SWFs across the globe. The withdrawal rule of the fund is economically justified against...

By A. Bacchus Safety is a universal guiding principle in the oil and gas sector, so much so that it has become embedded in the values of all companies operating in the sector. When major industry players like ExxonMobil, Hess...

The Natural Resource Fund Act 2021 Summary The Natural Resource Fund Act 2021 did not propose the removal of any component from the 2019 Act per se, rather, the bill seeks to replace certain components in the current act...