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Draft Local Content Law: Guyanese suppliers to benefit from 152 oil sector services

OilNOW -
The Government of Guyana is already in the advanced stages of completing its draft Local Content Legislation which outlines a sliding scale of targets to be achieved by petroleum companies and their subcontractors. The document proposes that Guyanese should be...
News

U.S. looking forward to finalised local content policy, wealth fund legislation – Ambassador Lynch

OilNOW -
The Government of the United States of America is looking forward to the finalisation of Guyana’s Local Content Policy, as well as amendments to the legislation on which the country’s Natural Resources Fund (NRF) has been established. This is...
News

Local Content Bill to be tabled soon, institutional arm being created – Gossai Jr.

OilNOW -
Guyana’s much-anticipated local content legislation appears is close to fruition with an announcement by Senior Petroleum Coordinator at the Ministry of Natural Resources, Bobby Gossai Jr., that a Local Content Bill will be heading to the National Assembly when...
News

Deepwater hotspot Suriname aiming for draft local content policy by 2022

OilNOW -
Suriname, Guyana's neighbour to the east, is looking to draft its local content policy by early 2022. Disclosing this was the country’s Minister of Natural Resources, David Abiamofo during his keynote address at the Suriname International Petroleum and Gas...
Exploration

Guyana government applauds ‘25 viable discoveries’, says local content remains key

OilNOW -
The Guyana government said on Thursday the latest oil discovery announced by ExxonMobil at the Cataback-1 well further enhances the country’s offshore potential, and that it is working to ensure Guyanese enjoy maximum benefits from the rapidly growing hydrocarbon...
News

Billions being spent with Guyanese suppliers even as stakeholders continue push for local content legislation

OilNOW -
As authorities in Guyana forge ahead with the finalization of a local content development framework, the largest oil and gas company operating in the country says it remains committed to building local capacity since it sees this as the...
Opinions

Local content regulations: back to the future?

OilNOW -
By Jerry Haar – OilNOW Trade and investment liberalization has been one of the hallmarks of the global economy for the last sixty years. Both industrialized nations and emerging markets have come to realize that the positive features of neoliberal...
News

Guyana local content policy will be enshrined in law, Bharrat affirms

OilNOW -
Guyana’s Minister of Natural Resources, Vickram Bharrat has assured that by the end of this year the government will commence putting into legislation its Local Content Policy. OilNOW understands that following the extended month-long consultations in March, a team from...
News

Guyana looking to implement procurement, local content audits for oil and gas operations

OilNOW -
To ensure all stakeholders are holding up their end of the bargain to make maximum use of local goods, skills and services in their operations, the President of Guyana, Dr. Mohamed Irfaan Ali, says government will be moving to...
News

Tougher local content measures will be implemented if Guyanese are bypassed by oil companies, President warns

OilNOW -
If Guyanese are bypassed by oil companies for jobs and business opportunities in the burgeoning petroleum sector, then the government would be forced to change its policy on local content, says President of the South American country, Dr. Irfaan...
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Q1 withdrawal from Guyana’s oil fund up 60% from last year’s

The Guyana government ramped up withdrawals from the country’s oil fund in the first quarter of 2025, taking out...

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