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Guyana won’t become next Dubai without foreign expertise, development of entrepreneurial talent – Int’l Advisor

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By unlocking significant oil resources in the ExxonMobil-operated Stabroek Block, one consultant after another has often said Guyana is poised to become the next Qatar or Dubai of the region. But such a promising future cannot come to pass...
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Local educator says rapid development of skills must be high on Guyana’s agenda

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For Guyana to succeed with the implementation of its Local Content Legislation, its regulators must keep rapid skills development at the top of mind, says University of Guyana Professor, Dr. Leyland Lucas. The educator made this point during a virtual...
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More investors flocking to Guyana since local content law enacted – Economist

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The provisions outlined in Guyana’s Local Content Act – a critical piece of legislation for the country’s booming oil sector took centre stage during Episode V of the Guyana Business Journal’s Transforming Guyana webinar on Wednesday. Since the law’s December 2021...
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TT business group distances self from director’s comment on Guyana local content law

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On the heels of comments from Trinidadian business strategist Jaishima Leladharsingh, who criticised Guyana’s local content law, the business group he directs, the Trinidad and Tobago Coalition of Services Industries (TTCSI), has distanced itself from the assertions. In a statement to the...
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‘TT companies will move to Suriname if Ramps doesn’t get local content certificate’ – Trini business strategist

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If Guyana fails to grant Ramps Logistics a Local Content Certificate to operate within its oil sector, Trinidad and Tobago companies will take their business elsewhere, to neighbouring Suriname. This was communicated by a T&T business strategist – Jaishima Leladharsingh –...
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Ramps Logistics says GRA charges of false declarations baseless

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Following the disclosure by the Guyana Revenue Authority (GRA) on Wednesday that it has instituted 10 charges against Ramps Logistics Guyana (RLG) for false declarations, the company has issued a statement calling the said charges baseless. While these charges will be reviewed...
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Guyana business group lobbying for law that would recognise contracts as collateral for loans

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President of the Georgetown Chamber of Commerce and Industry (GCCI), Timothy Tucker said the organisation is lobbying the Guyana government to pursue the type of legislative changes that would allow new companies to use their contracts as a means...
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Guyana local content regulator mulling guidelines to end ‘fronting’ in joint ventures

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The Local Content Secretariat (LCS) is seeking to draft guidelines that will signal clearly, how joint venture partnerships will be deemed genuine. Noting this recently was the President of the Georgetown Chamber of Commerce and Industry (GCCI), Timothy Tucker. Director...
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SBM Offshore is first major Exxon contractor to receive approval for local content master plan

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SBM Offshore is the first prime contractor of ExxonMobil Guyana to receive its Letter of Approval for its Local Content Master Plan, 2022. Halliburton was the second company to receive this letter followed by CGX Energy Inc. The Ministry of...
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Guyana’s Local Content law intelligently crafted for win-win scenarios – Economist

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Although Guyana’s Local Content legislation prioritises the use of locals across 40 categories of work such as rentals, security, transportation, and catering, it still does not block the participation of foreign entities. It is this intelligent craftsmanship of the...
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Why Guyana and others won’t stop exploring for oil – GEOExpro expert explains 

“Why would we still explore for oil and gas?” René Jonk of ACT GEO asked at the end of...

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.

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