Sunday, May 29, 2022

Opinions

Budget 2022 lays the foundation to avoid the paradoxical resource curse and the Dutch disease

Background Budget 2022 is the largest budget in Guyana’s history and the first to draw down from the oil revenues sitting in the Natural Resource Fund (NRF) that was recently passed in the National Assembly. During the budget debates, a...

Why oil is pushing towards US$100

By Simon Flowers - Chairman, Chief Analyst & author of The Edge at Wood Mackenzie Brent is trading near an eight-year peak, putting oil once again front and centre for investors, consumers and the global economy. Where does the oil...

Good governance, the best play for Guyana

By Dr. Lorraine Sobers - OilNOW Guyana is no longer the ‘wimpy kid’ on the playground with the second lowest gross domestic product (GDP) in the region.  Over the last 5 years Guyana has had a major growth spurt and...

Guyana’s oil is an insurance policy for climate change in the Caribbean

By Wazim Mowla - OilNOW  The revenue from Guyana’s oil and gas reserves are key to tackling its and the rest of the Caribbean’s climate change challenges. Addressing the effects of climate change boils down to securing needed financing at...

Will Guyana become the next United Arab Emirates? Only time will tell

By Arthur Deakin - OilNOW  In late January, the Guyanese PPP administration introduced a U$2.6 billion budget for 2022 where it will consume 100% of the funds stored in its Sovereign Wealth Fund (SWF). By year’s end, the SWF will...

Oil bounty, energy security and Guyana future prospects

Guyana’s energy sector for 2022 will be characterized by two significant developments. Within weeks the second phase of oil production will start at the Liza Phase 2 Development with a production ramp up of approximately 220,000 barrels of oil...

Capitalising on networking opportunities

By A. Bacchus In early 2018, I was fortunate enough to attend the first oil and gas conference and exhibition that was held in Guyana. At that point in time, ExxonMobil had made about six viable discoveries, and it was...

The Natural Resource Fund Series: Part 2

Summary Guyana’s Natural Resource Fund institutional and Governance framework are in line with the IMF’s recommendation and the models adopted by some of the largest SWFs across the globe. The withdrawal rule of the fund is economically justified against...

Safety culture

By A. Bacchus Safety is a universal guiding principle in the oil and gas sector, so much so that it has become embedded in the values of all companies operating in the sector. When major industry players like ExxonMobil, Hess...

The political economy, economic & finance issues

The Natural Resource Fund Act 2021 Summary The Natural Resource Fund Act 2021 did not propose the removal of any component from the 2019 Act per se, rather, the bill seeks to replace certain components in the current act...

Latest News

NOC can guarantee far greater benefit, value to Guyana – Financial Analyst

Guyana is exploring the establishment of a national oil company (NOC) to develop its oil and gas resources and some critics have opined...