Latest update March 28th, 2025 6:05 AM
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- “It will be a very bad day for Venezuelan if they attack Guyana or ExxonMobil”—Rubio declares
- Guyana gets info on U.S. tax evasion allegations against Mohameds, Mae Thomas
- US$35 injected into banking system to address foreign currency shortage—VP Jagdeo
- Citizens to stage protest today against lack of access to information in Guyana
- Guyana vows to stand with U.S.
Local Content panel to produce first report by November
Kaieteur News – The Ministry of Natural Resources said that the Local Content Advisory Panel is expected to produce and submit its first report and recommendations by next month.
The Local Content Advisory Panel meets Minister of Natural Resources, Vickram Bharrat
The panel, chaired by Shyam Nokta, is expected to review all existing initiatives and policies where local content is concerned and guide the development of a new policy and legislation.
Government said that the panel has been meeting regularly, and intends to conduct consultations with key stakeholders, including from the private sector, government and civil society.
Government said that the Minister emphasized the need for locals to get maximum benefit in the oil and gas sector via the participation of their goods and services.
The panel members comprise Nokta; former Foreign Minister, Carl Greenidge; Trinidadian local content expert, Anthony Paul; former Trinidad energy minister, Kevin Ramnarine; trade unionist, Carvil Duncan, and accountant, Floyd Haynes.
The local content policy currently in place was drafted under the former David Granger administration but was controversial because of a glaring absence of provisions to give Guyana more benefits.
It was finalized by ExxonMobil affiliate, Dr. Michael Warner. Warner is the UK consultant that APNU+AFC used to replaced Trinidadian local content expert, Anthony Paul.
Paul has been retained by the Irfaan Ali administration to assist with the revision of the policy and the installation of legislation.
The private sector has criticised the current policy as unfit for purpose, and has expressed that it did not heed the recommendations of the business service organizations.
Opposition Member of Parliament and shadow oil minister, David Patterson has challenged the government to set targets for oil companies in its policy.
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