Showing results for:

News

UWI Law Dean warns against insufficient local content laws

OilNOW -
Dr. Alicia Roberts, Dean of the Faculty of Law at the University of the West Indies St. Augustine, cautions that poorly formed local content laws or policies can create major inefficiencies and delays in the oil and gas sector.  At...
News

Local Content Register tops 1,100 companies, US$743M spent in 2024 

OilNOW -
Guyana’s Finance Minister, Dr. Ashni Singh, revealed during the 2025 budget presentation last week that the Local Content Register now includes over 1,100 companies.  Dr. Singh reported...
News

Brazil enacts law enabling flexible local content policies in oil and gas

OilNOW -
The Brazilian government has enacted Law 15,075/2024, introducing significant changes to the regulation of local content and production sharing agreements in the oil and gas sector. Effective December 26, 2024, the law aims to boost investments and optimize the...
News

Regulator approves MODEC’s plan for local content in Guyana through 2028

OilNOW -
Guyanese regulators have approved MODEC’s Local Content Master Plan 2024-2028.  The plan outlines MODEC's push to integrate Guyanese companies and nationals into its operations for a five-year period. Procurement opportunities for Guyanese companies are already being unveiled, with about 32 announced...
News

Local Content Law not meant to protect poor services – Min. Bharrat to Guyanese businesses

OilNOW -
Minister of Natural Resources, Vickram Bharrat, emphasized that Guyana's local content legislation is not a shield for substandard services. Speaking at the Local Content Forum, Bharrat urged the private sector to focus on maintaining high standards. “The local content legislation...
News

Staatsolie boss in favour of local content policy instead of law    

Shikema Dey -
Paramaribo, Suriname - As plans continue to move forward for Suriname’s first offshore oil production project, Managing Director of state oil company Staatsolie, Annand Jagesar, believes the country would do well with a local content policy instead of a...
News

Companies risk losing Local Content certification for not hiring, training Guyanese

OilNOW -
The Ministry of Natural Resources has issued a stern reminder to Contractors, Subcontractors, and Licensees in the oil and gas sector about their obligations under the Local Content Act. Companies failing to prioritize hiring and training qualified Guyanese nationals...
News

Strict enforcement of local content law crucial for Guyana’s Success – Nestoil CEO

OilNOW -
Chairman and Chief Executive Officer of Nestoil Group, Dr, Ernest Azudialu-Obiejesi, has urged the Guyanese government to learn from Nigeria's past mistakes in the oil and gas sector and strongly enforce its local content law.  His comments come as Guyana...
News

Local content regulator eyes doubling bid advantage for Guyanese companies

Kemol King -
Guyana’s Local Content Secretariat is contemplating boosting the competitive advantage already afforded to Guyanese companies in oil sector procurement.  According to Director, Dr. Martin Pertab, the Secretariat plans to do this through procurement and bid evaluation guidelines issued to companies...
News

Guyana likely to amend Local Content law this year

OilNOW -
Guyana is expected to amend its Local Content law later this year, with a view of increasing the areas in which companies are mandated to utilise Guyanese goods and services. Guyana’s Attorney General discussed this during a question-and-answer segment...
1234...157Page 3 of 157

Latest News

NewsOilNOW -

Exxon gives back portion of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

Quick Access

Company Info

Social Networks