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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

Bharrat tells oil sector long payment periods putting locals at disadvantage

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Minister of Natural Resources Vickram Bharrat has called on contractors, sub-contractors and licensees operating in Guyana’s oil sector to devise more timely payment plans for local businesses. This news comes on the heels of a slew of complaints that...
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

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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

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

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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

US$10 billion Yellowtail development will be largest investment in Guyana’s history

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The Yellowtail project will cost US$10 billion to develop, the Ministry of Natural Resources said, in a long-awaited announcement of its approval. This represents the largest investment ever made in the history of Guyana. The Liza Phases One and Two,...
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...
Opinions

Women in O&G: Latoya Jack shares her journey to success in Guyana’s newest industry

OilNOW -
By A. Bacchus Women’s History Month is observed in March, and it celebrates the contributions of women to events in history and society, I recently learned. International Women’s Day was also recently celebrated under the theme ‘Break the bias’, and...
Opinions

Capitalising on networking opportunities

OilNOW -
By A. Bacchus In early 2018, I was fortunate enough to attend the first oil and gas conference and exhibition that was held in Guyana. At that point in time, ExxonMobil had made about six viable discoveries, and it was...
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Guyana may enter long-term oil supply deals if there is market oversupply – VP

Guyana's Vice President, Bharrat Jagdeo, said the government may enter a long-term oil supply deal if there is oversupply...

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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