Absence of Parliamentary oversight in Guyana stalls hiring of administrator for transparency report

Must Read

High performance from Guyana as 2020 half-year discoveries hit lowest in 100 years

Global discoveries of conventional resource volumes reached just 4.9 billion barrels of oil equivalent (boe) in the first half...

‘The worst is behind us’: Analysts see continued recovery for global oil markets

After reaching historic lows in April, global oil prices could continue to chop higher in the coming months as...

Maersk Drilling bags exploration contract for one-well campaign in Suriname

Maersk Drilling has secured a contract for the semi-submersible rig Mærsk Developer which will be employed by PETRONAS Suriname...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

The delay in the commencement of the next session of Parliament in Guyana is affecting the hiring of an Independent Administrator which will play a key role in compiling the country’s second report for submission to the International Secretariat of the Extractive Industries Transparency Initiative (EITI).

Guyana’s first report was submitted to the International Secretariat on April 25, 2019 and later that year the country started the process of recruiting an Independent Administrator to assist in the compilation of the second report.

National Coordinator of EITI Guyana, Dr. Rudy Jadoopat had told OilNOW in October 2019 that the hiring of the Independent Administrator, which is an organization, typically an auditing firm, is being facilitated through the tendering process of the National Procurement and Tender Administration Board (NPTAB). Some $US120,000 (GY$24.8M) has been earmarked for this purpose by way of a World Bank loan but NPTAB’s approval limit is GY$15M. This means Parliament must green-light the signing of the contract.

The National Assembly in Guyana, which comprises Parliament, last sat on May 23, 2019, well over a year ago and Parliament was dissolved on December 30, 2019 to facilitate the March 2, 2020 elections. The delay in a declaration of results for the elections and installation of a government has resulted in a protracted delay in the commencement of the next session of Parliament.

Due to the elections delay and constraints being imposed by the COVID-19 restrictions, the country’s second report to the EITI Secretariat will be postponed by a year and is now due in March 2021.

Guyana became the 53rd candidate of the global transparency body in 2017.

- Advertisement -

Latest News

High performance from Guyana as 2020 half-year discoveries hit lowest in 100 years

Global discoveries of conventional resource volumes reached just 4.9 billion barrels of oil equivalent (boe) in the first half...

‘The worst is behind us’: Analysts see continued recovery for global oil markets

After reaching historic lows in April, global oil prices could continue to chop higher in the coming months as COVID-19 shelter-in-place restrictions begin to...

Maersk Drilling bags exploration contract for one-well campaign in Suriname

Maersk Drilling has secured a contract for the semi-submersible rig Mærsk Developer which will be employed by PETRONAS Suriname Exploration & Production B.V. for...

Crane Worldwide Logistics collaborates with SBM Offshore to ship PPE supplies to Guyana

Crane Worldwide Logistics (CWW) has collaborated with SBM Offshore to ship several thousand gloves and masks to the South American country of Guyana to...

Guyana makes historic presentation to ICJ over border controversy with Venezuela

A battery of international lawyers with key support from Sir Shridath Ramphal presented Guyana’s case to the International Court of Justice (ICJ) on Tuesday...

More Articles Like This