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Single Fund deemed to be sufficient for petroleum revenue management

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A single fund will be the most “effective, efficient and transparent mechanism” for achieving the multiple objectives of the Guyana Government for the successful management of oil and gas revenues.  This is the determination of the Ministry of Finance as...
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Venezuelan Petroleum Professor addressing Green Economy Workshop in Guyana

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A Venezuelan Professor of Petroleum is currently in Guyana giving advice on developing the oil and gas sector in hopes that the country does not repeat Venezuela’s mistakes.  Professor Carlos Mendoza Pottella, who is the Visiting Advisor to the Central...
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Youth Parliamentarians to discuss and debate O&G

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The topic of oil and gas will be subject to debate and discussions in Guyana during the 2018 Youth Parliament which opens on Wednesday, August 15, 2018, at Parliament Building, Georgetown.  During a Press Conference about the event on Tuesday,...
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Trotman sees direct cash payout to Guyanese as ‘possible if structured’

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Economist, Dr Clive Thomas’ suggestion of using a portion of the oil monies for direct cash payouts to citizens has been welcomed by Minister of Natural Resources, Raphael Trotman. Mr. Trotman, who is also the leader of the Alliance for...
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Sovereign Investment Committee to aid in O&G revenue management

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The Government of Guyana is looking to establish a Sovereign Investment Committee which will be responsible for advising the Minister of Finance on investing Oil and Gas (O&G) revenues.  This was outlined in the Green Paper for the Natural Resources...
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Natural Resources Fund Green Paper for National Assembly today

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Guyana’s Natural Resources Fund Green Paper will be laid in the National Assembly for consideration and made public today, August 8, 2018, just after 14:00 hours. Minister of Natural Resources, Raphael Trotman made this disclosure during the inaugural meeting of...
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Dr. Bynoe has ‘excellent credentials…doesn’t have to be world-class expert on everything’ – Harmon

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Dr Mark Bynoe’s appointment as Head of the Department of Energy was an excellent choice since he comes with a wealth of knowledge says Guyana’s Minister of State, Joseph Harmon, in response to criticisms that Dr Bynoe may not...
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Department of Energy Head to decide if Mangal’s services needed – State Minister

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The decision to engage Former Petroleum Advisor to President David Granger, Dr Jan Mangal will now rest on the shoulders of the newly appointed Head of the Department of Energy, Dr Mark Bynoe. This is according to Minister of State, Joseph...
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WoodMac Sees ‘loosening’ of oil market towards year-end

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Wood Mackenzie sees a “loosening” of the oil market towards the end of the year, Sushant Gupta, a director at the research and consultancy business, revealed in an interview with CNBC on Tuesday, reports Rigzone. “If you look at …...
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BP investing US$8 billion in nine new T&T projects

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BP Trinidad and Tobago’s long-term plan could potentially see the company investing as much as $8 billion dollars in T&T, in 9 new developments in the next 10 years, according to Claire Fitzpatrick, new BPTT president. Speaking at a media...
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President Ali wants Guyana’s private sector to form supply vessel group for offshore assignments

Guyana President Irfaan Ali on Friday urged the country’s private sector to form a consortium capable of joining offshore...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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