News

Guyana’s Finance Minister, Dr. Ashni Singh tabled the Natural Resource Fund Bill 2021 in Parliament on Thursday morning, seeking to bring a more practical governance mechanism for the management of the country’s petroleum revenues, especially where it concerns rules...

Due to the billions of dollars at stake in the procurement of oil and gas contracts, the PPP/C Government is proposing to have a Local Content Register of qualified nationals and companies so as to keep schemers of the...

SBM Offshore, the builder and operator of floating production storage and offloading (FPSO) units operating offshore Guyana, on Wednesday celebrated five years of operations in the new oil producing South American country. The auspicious occasion was marked with the...

The Guyana government will table a Bill in the National Assembly today for the amendment of its Natural Resource Fund to provide simple rules to govern withdrawals. The government has said the current rules as too complex. In criticising the...

Guyana’s Finance Minister Dr. Ashni Singh said the government’s new local content bill, scheduled to be tabled in the national assembly today, makes provisions for the establishment of a local content secretariat, which will be responsible for managing compliance...

ExxonMobil's almost 100 percent relocation of supply chain services from Trinidad and Tobago to Guyana is not an unexpected move, says Prime Minister of the Twin Island Republic, Dr. Keith Rowley. He said this is especially understandable since Guyana's...

Crude oil futures were lower in mid-morning trade in Asia Dec. 15, extending losses from the previous session, as concerns over an impending surge in COVID-19 cases from the omicron variant mounted. At 10 am Singapore time (0200 GMT), the...

Since the conclusion of Guyana’s chaotic elections in August 2020, rebuilding confidence in public institutions and in the country as an investment destination has been a key objective of the new government. The Irfaan Ali administration had insisted that...

While climate change pledges from governments across the world will put some degree of pressure on the oil and gas industry, the upstream sector will still rebound come 2022 says global energy research and consultancy group, Wood Mackenzie. More specifically,...

Developing countries are continuing to focus on commercializing their oil and gas resources so that the much-needed revenues can be used to expand their economies and improve the standard of living for their people. GlobalData said on December 3 that...