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Business groups welcome Guyana government’s stance on local content

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI) and the Guyana Manufacturing and Services Association (GMSA) said on Saturday the position of the new administration on local content development in the oil and gas sector is welcomed. Vice President, Bharrat...
News

Business leader wants equal pay for equal work in Guyana’s emerging O&G sector

OilNOW -
A private sector executive in the South American country of Guyana is calling for equal pay for equal work in the nation's emerging oil and gas sector, regardless of nationality or gender orientation. Ramesh Persaud, who is the Chief Executive...
Opinions

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...
News

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...
News

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...
News

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...
News

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...
News

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...
News

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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Exxon to relinquish 9% of Stabroek Block acreage

ExxonMobil will relinquish at least 9% of the vast Stabroek Block in Guyana as required by its petroleum agreement,...

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