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Whirlwind of condemnation from Guyana private sector over objections to local content law from regional group

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Private sector representatives in Guyana are outraged over a leaked email from Chairman of the CARICOM Private Sector Organization (CPSO), Gervase Warner, who is quoted as stating that Guyana’s Local Content Law contains several provisions that are in contravention...
News

Private sector to help mobilise financing for mega projects this year, Ali says at historic signing of local content bill

OilNOW -
President of Guyana, Dr. Mohamed Irfaan Ali on Friday assented to the landmark Local Content Bill 2021 at a simple ceremony held at the Office of the President in Georgetown. "It sets the framework for Guyanese to win, and that...
News

Guyana passes landmark local content bill

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Guyana’s long awaited local content legislation will soon be a reality after the landmark Local Content Bill 21 of 2021 was passed today in the National Assembly. The landmark bill paves the way for local companies and citizens to participate...
News

Oil operators, sub-contractors will get one-year grace period to comply with Local Content Law – AG

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Once the Local Content Bill 2021 becomes law, international oil companies and their subcontractors will have a one-year grace period to get their proverbial house in order and be fully compliant with the legislation says Attorney General of Guyana...
News

Local content targets can be adjusted if we overestimate or shortchange ourselves – Nandlall

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Guyana’s Local Content Bill 2021 proposes a schedule of 40 categories of work which include minimum targets to be achieved by oil companies and their subcontractors. In the event it is observed that the targets overestimate or shortchange participating...
News

Local Content Bill closes loopholes for favouritism, monopolies – Guyana Attorney General

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In an effort to ensure there is a level playing field for all companies participating in the trillion-dollar oil sector, Guyana’s Local Content Bill 2021, proposes several mechanisms to banish opportunities for favouritism and the creation of monopolies. This...
Opinions

Guyana’s Local Content Policy and the complete education of all Guyanese children

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By Dr. Lorraine Sobers Guyana’s oil production is set to ramp up rapidly in the next 5 years, but this is just the beginning. By early 2022, production will reach 340,000 barrels of oil per day (bopd) with the arrival...
News

Local content bill realistic, achievable and dynamic – Gossai Jr.

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Senior Petroleum Coordinator at Guyana’s Ministry of Natural Resources, Bobby Gossai Jr., says the Local Content Bill 2021 laid in Parliament last week is a dynamic document that will be continuously updated as the oil and gas industry evolves in...
News

Business groups applaud Guyana government for landmark local content bill

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The Georgetown Chamber of Commerce and Industry (GCCI) and the Guyana Oil and Gas Energy Chamber (GOGEC) have welcomed Guyana’s hallmark Local Content Bill which was tabled in the National Assembly on Thursday. The GCCI, in a statement, reinforced that...
News

Local Content Bill proposes GY$50 million penalty for companies’ failure to meet minimum targets

OilNOW -
Guyana’s historic Local Content Bill 2021 has outlined several penalties for persons who are found to be in breach of its provisions. The Bill notes that a person who carries out petroleum operations without the minimum local content requirement...
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Two oil nations, one engineering crisis: Guyana short, Trinidad shrinking

The challenge of producing and retaining engineers is playing out in two different ways in Trinidad and Tobago and...

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