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Local content doesn’t mean automatic benefits, Guyanese must become competitive, says economic specialist

OilNOW -
Guyana’s Local Content Act mandates quotas for the participation of Guyanese workers and businesses in various oil-related sectors, which gradually increase over the years. Executive Director at the Georgetown Chamber of Commerce & Industry, Richard Rambarran said when one looks...
Opinions

On refining the trajectory of Guyana’s local content requirements

OilNOW -
Dr. Terrence Richard Blackman - OilNOW On February 15th - 18th, 2022, an International Energy Conference & Expo: Charting a Sustainable Energy Future was held at Guyana's Marriott Hotel. One highlight of the meeting was the panel discussion on Guyana's...
News

ExxonMobil’s local content investment now over US$600M since 2015

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The development of ExxonMobil’s projects and continued exploration success in the Stabroek Block is pushing the steady advancement of local capabilities and enhanced economic growth in Guyana. In a press release on Monday, ExxonMobil revealed that since 2015, it has...
News

Local content advocate, Timothy Tucker, re-elected to head Georgetown business chamber

OilNOW -
Businessman, Timothy Tucker, was on Friday re-elected to the presidency of the Georgetown Chamber of Commerce and Industry (GCCI), an association which represents about 550 businesses. Tucker is the owner of Rid-O-Pes, a pest control company. His re-election occurred at...
News

Local content not designed to hinder foreign investment; come partner with Guyanese – Bharrat

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Natural Resources Minister in Guyana, Vickram Bharrat, said that the Local Content Act 2021, passed into law in December last year, is not designed to hinder foreign investment. “I know there are many questions regarding the local content legislation… whether...
News

T&T local content policy more “deadly” than Guyana’s; “illegal” trade barriers should be removed – Guyanese business exec

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Following criticism of Trinidad and Tobago’s trade barriers against Guyana by President of the Georgetown Chamber of Commerce and Industry (GCCI), Timothy Tucker, an executive of another Guyanese business service organization, the Guyana Manufacturing and Services Association (GMSA) has...
News

Guyana will not be bullied on Local Content Policy – VP Jagdeo

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Guyana’s Vice President, Dr. Bharrat Jagdeo has indicated that the government will not be moved to weaken in any way, shape, or form, the powers enshrined in the new Local Content law which seeks to protect the rights of...
News

Local Content Secretariat inviting stakeholders to report grievances

OilNOW -
In seeking to understand the concerns of stakeholders when it comes to local content, Guyana’s recently established Local Content Secretariat has developed a grievance redress mechanism. Found on the website of the Secretariat, it is highlighted that the input...
News

Guyana can opt-out of CARICOM Treaty obligations if Local Content law is challenged – Datadin

OilNOW -
For those seeking to mount any legal challenge to Guyana’s Local Content Act, Member of Parliament (MP) and Attorney-at-Law, Sanjeev Datadin has categorically stated that such entities would be doing so at their own peril since the government will...
News

Guyana’s Local Content Registry up and running

OilNOW -
As required by Guyana’s Local Content Act, the Local Content Registry became operationalised on Tuesday afternoon. This portal compiles a list of suppliers from which goods and services may be procured, or as an individual seeking employment within the...
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Guyana among nations overhauling petroleum laws to attract investment – GEOExPro

Guyana is among a group of countries that have introduced sweeping changes to their petroleum laws in a bid...

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