Natural Resources Minister in Guyana, Vickram Bharrat, said that the Local Content Act 2021, passed into law in December last year, is not designed to hinder foreign investment.
“I know there are many questions regarding the local content legislation… whether...
With both Brent and WTI crude trading over US$100 per barrel for weeks since Russia first invaded Ukraine, Norwegian business intelligence firm, Rystad Energy now projects that this is going to last for several more months.
Rystad said in its...
While his counterparts in Trinidad and Tobago have taken umbrage at his latest public comments that the economy of the Twin-Island Republic is falling apart, Vice President, Dr. Bharrat Jagdeo has no intention to change his position. For him,...
Negotiations are underway for the Stabroek block consortium to provide a guarantee that they would have adequate resources to respond to an oil spill. Arthur Deakin, who is energy co-director at Americas Market Intelligence (AMI), said that while this...
CGX Resources Inc. (CRI) in partnership with its Canadian joint venture partner, Frontera Energy Corporation, said the Wei-1 prospect in the Corentyne Block will be drilled in the May to August period with costs to execute said project starting...
Leading agriculturalist, Dr. Arlington Chesney said the Guyana government should accelerate its agriculture program, and that he hopes a substantial portion of the revenues gained from the production and sale of crude will be invested in this sector.
It is...
Guyana is in discussion with other member states of the Caribbean Community (CARICOM) to remove barriers to trade among nations, said President Dr. Mohamed Irfaan Ali on Sunday.
The barriers are obstacles to the oil producing nation’s goal of making...
Following criticism of Trinidad and Tobago’s trade barriers against Guyana by President of the Georgetown Chamber of Commerce and Industry (GCCI), Timothy Tucker, an executive of another Guyanese business service organization, the Guyana Manufacturing and Services Association (GMSA) has...
The need for any country to build resilience against oil price volatility and global supply shocks is a recurring conversation. But when Russia invades Ukraine, and causes the biggest oil price jump in years, the urgency to convert this...
As Guyana continues to build capacity to regulate the oil and gas industry, the Ministry of Labour is training officers to be able to conduct inspections at the site of ExxonMobil’s offshore operations.
Minister of Labour, Joseph Hamilton told OilNOW...
