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Private sector body urges swift payment reforms in Guyana’s oil and gas sector

OilNOW -
The Private Sector Commission (PSC) has raised urgent concerns over payment delays from oil and gas companies, calling for reforms to ensure timely payments. In a meeting on June 14, 2024, with Minister of Natural Resources Vickram Bharrat and...
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Guyana implements new policy, boosting advantage for locals in oil sector

Kemol King -
Guyanese companies in the oil sector just got a major boost. A new policy now requires that companies evaluating bids give more weight to local content, increasing it from 5% to 10%. Companies with a Local Content Certificate will...
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Stronger penalties for ‘fronting’, Jagdeo warns 

OilNOW -
Vice President Bharrat Jagdeo has warned that the Guyanese government will be implementing stronger penalties for companies engaging in ‘fronting’ to circumvent the Local Content Act (LCA), which will be amended soon. ‘Fronting’ or ‘rent-a-citizen’ is a phenomenon that has...
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Saipem, CNOOC to host meetings with Guyana suppliers

OilNOW -
Saipem and CNOOC are set to hold separate meetings with Guyanese businesses in June.  Saipem’s meeting is an information session for businesses to understand their contractual obligations. It is scheduled for June 20, at 10:00 am. Registration is active, with...
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Omni Helicopters selects first Guyanese pilots for Ab-Initio flight program

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Omni Helicopters Guyana Initiative (OHGI), touted as Guyana’s leading air mobility solutions provider for the offshore sector, has selected its first two Guyanese citizens, Somant Heeralal and Yadram Ramcharran, to participate in its Ab-Initio flight program.  Announced in a June...
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Exxon data reveals 80% average annual growth in spend on Guyanese suppliers for 2017-2023

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ExxonMobil and its contractors grew their spend on Guyanese suppliers by an average of 80% annually, its 2023 Annual Report revealed. Spend grew from US$23 million in 2017 to US$641 million in 2023. Recent growth in spend picked up, particularly...
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Exxon to meet with Guyana vendors 

OilNOW -
ExxonMobil Guyana said it will host a June 19 virtual session for feedback on its Requests for Information (RFI) issued during July-December 2023.  The meeting will include an explanation of its RFI process, feedback on responses to the RFIs, and...
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Local content regulator eyes doubling bid advantage for Guyanese companies

Kemol King -
Guyana’s Local Content Secretariat is contemplating boosting the competitive advantage already afforded to Guyanese companies in oil sector procurement.  According to Director, Dr. Martin Pertab, the Secretariat plans to do this through procurement and bid evaluation guidelines issued to companies...
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Japanese FPSO builder to engage Guyanese suppliers this week

OilNOW -
Japanese shipbuilder MODEC will hold a Vendor Engagement Forum on May 14, 2024. The company will engage with Guyanese suppliers at the Centre for Local Business Development (CLBD) office in Georgetown. The forum will include information-sharing about MODEC’s procurement...
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‘Guyana Brand’ now more powerful than ever – Ali

OilNOW -
In his address at the opening of the April 16 Local Content Summit in Georgetown, President of Guyana, Dr. Mohamed Irfaan Ali, said the "Guyana Brand" has reached unprecedented levels of global recognition and influence, signaling a new era...
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Shearwater mobilizes Amazon Warrior for 3D survey offshore Suriname

Norwegian marine geosciences company Shearwater is deploying its Amazon Warrior vessel for a 150-day, 6,042 sq km 3D seismic...

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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