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‘US dollar’ Natural Resources Fund to be held at Bank of Guyana – Green Paper

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In outlining its proposed plan for managing future petroleum revenues and establishing a fiscal rule and a Sovereign Wealth Fund, the Guyana government through its Ministry of Finance stated in a Green Paper presented to Parliament on Wednesday, how...
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Guyana’s O&G earnings to be invested in “safe and liquid assets”- Finance Minister

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A portion of revenues from Guyana’s oil and gas industry, once placed in the imminent Natural Resource Fund (NRF) will be “invested in safe and liquid assets," the country's government proposes.  Among the investment plans touted by the country’s Finance...
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Finance Ministry to manage Guyana’s wealth fund

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Guyana’s Natural Resource Fund—the South American nation’s Sovereign Wealth Fund for its Oil and Gas (O&G) earnings—will be managed by the Ministry of Finance, headed by Minister Winston Jordan.  The Green Paper for the Natural Resource Fund that was recently...
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CLBD, CTVET team up for O&G training

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ExxonMobil Guyana’s Centre for Local Business Development (CLBD) and the Council for Technical and Vocational Education and Training (CTVET) have collaborated to host a two-day workshop for lecturers and instructors of the Government Technical Institute (GTI) and the Linden Technical...
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TOTALTEC Academy graduates join Schlumberger

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TOTALTEC Oilfield Services Guyana has confirmed that the first group of successful graduates from its inaugural Oilfield Safety Training and Operator Programme have been qualified and joined Schlumberger, a world-leading oilfield service company. “This is a true breakthrough for Guyana,...
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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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Russia’s Rosneft completes acquisition of ExxonMobil stakes in some joint projects

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Russian oil company, Rosneft said Tuesday that it has completed acquisition of ExxonMobil's stakes in some joint projects set up to develop offshore Arctic, deepwater Black Sea, and West Siberian tight oil reserves, following the US major's decision to...
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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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TotalEnergies’ Gran Morgu project will drive local participation in 45 sectors – Suriname GM 

Suriname companies and workers in 45 sectors will have opportunities to participate in the development phase of the Gran...

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