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Leading by example, ExxonMobil’s local content centre now ISO 9001 certified

OilNOW -
The Centre for Local Business Development (CLBD) has been making strides over the years to grow with Guyana's nascent oil and gas sector and now, the Centre has been ISO 9001:2015 certified. The Centre's journey to ISO 9001 began back...
News

IHS Markit applauds local content law, as Guyanese go after billions in oil investments

OilNOW -
IHS Markit said Guyana’s government should be lauded for successfully avoiding over-demanding or unrealistic targets that would delay investment before developing expertise in measuring and coordinating industrial development actions. This comment comes as locals go after billions in investments being...
News

Guyana to conduct national year-end capacity assessment to update local content law – Bharrat

OilNOW -
Guyana will be undertaking a review of its local capacity in support of oil and gas operations by the end of 2022 to determine whether the 40 schedules outlined in the Local Content Policy need to be adjusted. “This will...
News

No need for Guyana, Trinidad to be at each other’s throats about local content laws – Rowley

Kemol King -
Prime Minister of Trinidad and Tobago, Dr. Keith Rowley said there is no need for his government and Guyana’s to be at each other’s throats about Guyana’s new local content laws. “What the government of Trinidad and Tobago tried to...
Opinions

Guyana – The local content spat – dangers of inattention

OilNOW -
By Wilberne Persaud - OilNOW A few weeks ago, a regrettable faux pas pushed Guyana’s Local Content Policy (LCP) into news headlines across the region. The Act seeks reasonable retention of benefits generated by activity in the oil sector for Guyanese...
News

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

OilNOW -
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

OilNOW -
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...
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Middle East tensions could lift Guyana’s oil revenues, but capacity risks remain – Orinoco Research

Rising geopolitical instability in the Middle East could increase oil revenues for Guyana while also exposing capacity constraints across...

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