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Oil funds and managing the macroeconomic effects for Guyana

Successive Guyanese governments will have to consider the concept of a separate oil fund. A separate fund could entail providing for a fixed sum to be spent in areas additional to the government’s main spending programmes. However, it may...

Cargo Consolidators Agency launches Guyana subsidiary for O&G supplies

Cargo Consolidators Agency (CCA), a Trinidad-based company with over 40 years of experience in international freight, launched its Guyana subsidiary at the Marriott Hotel, Georgetown on Friday evening. The company has been involved in the international movement of oil &...

Company owned by oil union to purchase Petrotrin refinery for US$700 million

Media outfit Loop TT is reporting that Trinidad and Tobago’s Minister of Finance Colm Imbert announced that a company owned by the Oilfield Workers Trade Union (OWTU) has been named the preferred bidder to own and operate the Pointe-a-Pierre...

Criticism of Guyana government mounts over election as oil production looms

The international community, including Guyana’s primary bilateral partners in addition to segments of its domestic business and legal fraternity, has come out in criticism of the Guyana Government for what it has described as a breach of the Constitution...

Privately-owned oil spill response centre set to open doors in Guyana

GAICO Construction Inc. will next month open the first privately-owned Oil Spill Response Centre in Guyana, at its Georgetown Wharf. The Centre is currently in its final stages of completion and will, according to GAICO’s Chief Executive Officer, Komal Singh,...

Guyana will require fewer petroleum engineers per barrel of production than T&T

The University of Guyana (UG) has added an Associate’s program in Petroleum Engineering and a Master’s Degree in Petroleum Engineering, in response to the country’s rapidly growing hydrocarbon industry. With expectations high among Guyanese, more so, potential students, for training...

Orinduik now looks like a ‘big pool of oil traps’ – Holzman

CEO of Eco Atlantic Oil and Gas Gil Holzman says that with the rare back to back oil finds in the Jethro-1 and Joe-1 wells in the Orinduik Block offshore Guyana, he believes that this is a portent of...

EPA’s 36-person Petroleum Unit won’t be ready in time for first oil – Dr. Adams

The World Bank is assisting the Environmental Protection Agency (EPA) in Guyana with the establishment of a Petroleum Unit to address oil and gas matters as first oil approaches in the South American country. However, EPA's Executive Director, Dr. Vincent...

U.S mission is to help Guyana remain on democratic path where oil revenues benefit all – Ambassador

The United States in on a mission to help the South American country of Guyana remain on a democratic path where its newfound oil wealth will benefit all of its people. This commitment was reiterated on September 18 by U.S...

IMF urges implementation of EITI report recommendations to strengthen governance

The International Monetary Fund is urging the Government of Guyana to implement the recommendations of the first Extractive Industries Transparency Initiative (EITI) report for Guyana, submitted by the Independent Administrator BDO LLC in April 2019. This is according to an...

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The rise of Expro’s first Guyanese Field Service Supervisor, Norman Chapman 

When Norman Chapman joined Expro Guyana in 2018, then known as Frank’s International, he was one of just five...