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“Government wants to do what is right for the industry” – Trotman

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The Guyana government says it remains committed to doing what is best for the country's emerging oil and gas industry and will continue to pursue measures that allow for transparency in the sector. Speaking at a public meeting of the...
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Ban on Venezuelan oil imports to US could unify the chavistas – US Senator

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As US officials remain divided on the exact measures that should be taken against Venezuela should a July 30 vote that could strip lawmakers of their constitutional power, goes through, one Senator is warning that a ban on Venezuelan...
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EITI requires comprehensive tax, revenue disclosures

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The Extractive Industry Transparency Initiative (EITI) requires that all implementing countries, one of which Guyana hopes to soon become, provide a comprehensive reconciliation of company payments and government revenues from the extractive industries. EITI believes an understanding of company...
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US Ambassador urges widespread consultations for Guyana’s SWF

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Widespread consultations on the creation of a Sovereign Wealth Fund (SWF) and ensuring that the fund is insulated from political interference are two areas that US Ambassador to Guyana, Perry Holloway, pointed to when creating a fund that works...
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Guyana Shore Base Inc. aiming for 100% Guyanese workforce

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On Friday Guyana's Minister of Natural Resources, Raphael Trotman and members of the media were given a tour of the Muneshwer onshore facility; Guyana Shore Base Inc. (GYBSI) located at Houston, Georgetown, Guyana. GYBSI is a consortium of companies which...
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IMF team in Guyana advising on Fiscal Responsibility Framework

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Guyana is continuing to receive support from international organizations in the development of policies to successfully manage the emerging Oil and Gas sector, with the recent assistance coming from the International Monetary Fund. The IMF has been in the South...
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Guyana will be expected to publicly disclose contracts under EITI requirements

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As Guyana seems well on its way to becoming the 53rd country in the world to attain Extractive Industry Transparency Initiative (EITI) candidacy, a leading adviser supporting this process says implementing countries are now required to do much more in...
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ExxonMobil sues U.S over Russian deal

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ExxonMobil said Thursday it has launched a legal challenge to a finding by the Treasury Department’s Office of Foreign Assets Control (OFAC) that it violated U.S. sanctions against Russia in 2014 when the company followed authoritative and specific guidance from...
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Petroleum Commission set to play critical role in Guyana oil & gas industry

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Once established, the Petroleum Commission of Guyana will assume a lead role in monitoring and regulating the efficient, safe, effective and environmentally responsible exploration, development and production of petroleum in the South American country. The Commission will be tasked with...
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SBM Offshore, Repsol to get $247M in insurance settlement

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(Reuters) - Dutch oil industry services group SBM Offshore and Spanish energy firm Repsol will share an insurance payment of $247 million, less legal costs, related to a troubled Norwegian offshore project, SBM said on Monday. SBM said it had...
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Guyana Energy Conference launches essay competition for high schoolers

The Guyana Energy Conference and Supply Chain Expo (GECSCE) has launched its first-ever essay competition, open to Guyanese students...

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