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Local Content

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Value-addition and human capital creation for economic growth: key elements of Local Content Policies

Bobby Gossai, Jr. -
Local Content Policies (LPCs) are part of a broader category of policies known as Productive Development Policies (PDPs) or Industrial Policies (IPs), which, in the most expansive definition, include all government interventions, measures or programmes that aim to increase...
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Local content framework in Guyana to be in place “long before first oil” – Dept. of Energy

OilNOW -
“We are confident that there will be a Local Content framework long before first oil.” This assurance was given by Director of the Department of Energy, Dr. Mark Bynoe as he addressed media operatives at his first press conference...
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Guyana signed MoUs before and there was no apocalypse – Foreign Minister

OilNOW -
Guyana’s Minister of Foreign Affairs, Carl Greenidge, said the Memorandum of Understanding to be signed between Guyana and its Trinidadian counterpart later this month will in no way adversely affect the country’s development, but rather strengthen it. Speaking at a...
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Amendments to Companies Act needed to ensure those benefiting from O&G are ‘local’ – GCCI President

OilNOW -
Amendments may have to be made to sections of Guyana’s Companies Act to ensure that businesses registered to operate in the South American country have put adequate measures in place to be considered ‘local’, and in so doing, benefit...
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Poor local content provisions can lead to corruption, conflict

OilNOW -
A study on local content provisions in developing countries has made a nexus between poorly drafted or implemented local content policies, laws and regulations and the emergence of corruption and conflict resulting in little benefit to the country from...
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Guyana businesses want local content legislation – GCCI President

OilNOW -
President of the Georgetown Chamber of Commerce and Industry, Deodat Indar, says that the business community in the South American country would like to see, at the very least, some degree of legislation enacted for local content rather than...
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Restrictive local content measures can hurt oil companies – British High Commissioner

OilNOW -
British High Commissioner to Guyana, Greg Quinn, believes careful consideration must be given to the establishment of guidelines for the use of local content in the oil & gas industry since measures which are too restrictive can serve to...
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High expectations of jobs created riots in African territories – Anthony Paul

OilNOW -
Author of Guyana’s draft local content policy framework, Anthony Paul, is warning that expectations of large-scale job creation in the South American country’s emerging oil and gas sector could lead to serious challenges down the road. Mr. Paul, a UNDP...
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Using supply base in Guyana would be ExxonMobil’s first preference – CLDB head

OilNOW -
ExxonMobil, its contractors and sub-contractors would be looking as a first preference, to have materials and services needed for exploration and production activities sourced from a supply base in Guyana since this is a more economical option. Project Director at...
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Train the trainers worked for gold, it can work for oil – McLean

OilNOW -
Former Human Resource Manager of the now defunct Omai Gold Mines Limited, Norman McLean, believes that an effective approach for the delivery of local content in Guyana’s emerging oil and gas industry is to implement a system that allows...
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Guyana’s oil fund earned US$141 million in interest in 2024 

Guyana’s Natural Resource Fund (NRF) earned US$141 million (GY$29.5 billion) in interest income in 2024, according to the government....

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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