The Alliance for Change (AFC), a key party in the APNU+AFC Parliamentary opposition, has published its proposed amendments to the Petroleum Activities Bill 2023, the document that’s meant to overhaul Guyana’s decades-old oil and gas regulatory framework. Key to its proposed amendments is for the Bill to allow for a Petroleum Commission to take on some of the regulatory powers of the Minister with responsibility for Petroleum.
The Minister of Natural Resources (with responsibility for petroleum), Vickram Bharrat, tabled the Bill in Guyana’s Parliament last week after the government revised it to incorporate advice from a previous period of consultation. During this period, the administration faced some criticism for not including language that spoke to a Petroleum Commission, as the establishment of the agency was one of its key campaign promises with respect to the oil sector.
In the proposed amendments, to be tabled by AFC Member of Parliament (MP), David Patterson, and seconded by Deonarine Ramsaroop, the Petroleum Activities Bill would make allowances for some functions of the Minister to be arrogated by or shared with the hypothetical Commission, given effect by a ‘Petroleum Commission Act’. With Patterson’s recommendation, all applications in the sector would be submitted to the Commission which, in turn, would forward recommendations to the Minister.
Patterson’s proposal would also amend several provisions of the Bill, thereby compelling the Minister to rely on the advice of the Petroleum Commission to make specified decisions. For example, where the law would allow for the Minister to consider renewing a license on application, the Minister would have to seek counsel from the Commission.
Additionally, the AFC MP is making proposals with respect to royalties, audits, ring-fencing of costs, training, decommissioning, among others, as promised a month ago. Many of the changes reflect criticisms that have been leveled against the government on the Bill by opposition parties and local press.
The Petroleum Activities Bill and the AFC’s proposed amendments can be viewed below:
