PPP/C pushes through controversial NRF Bill: Stabroek News  

-despite boisterous objections from Opposition   

-ignores civil society concerns

Ignoring mounting calls from civil society and an in-House protest from the Opposition to send the controversial Natural Resource Fund Bill to a Special Select Committee for debate and consultations, the PPP/C last night blazed ahead with the passage of the controversial legislation. Boisterous chants from the opposition APNU+AFC members, whistles, and even an attempt to grab the Speaker’s Mace did not deter Minister of Finance Dr Ashni Singh from forging ahead with the second and third readings of the Bill to allow for its passage after some order had been restored.

Opposition to ramp up protests against new NRF law: Kaieteur News

…threatens court action against ‘wholesale thievery of oil money’

Scores of Guyanese on Wednesday picketed in front of the Arthur Chung Conference Centre (ACCC)—where a sitting of the National Assembly was being held to protest their opposition to the Peoples Progressive Party Civic (PPP/C) Government’s rush to pass a new Natural Resources Bill, which many have since condemned as a move to legalise wholesale thievery of Guyana’s oil revenues. The Bill aimed at replacing the NRF Act in place already in order to give sweeping powers and control over the oil fund and its use by the sitting President.

Government condemns Opposition’s defilement of National Assembly: Guyana Chronicle  

(Statement from the Government of Guyana) The Natural Resources Fund Act of 2021 was passed and is now lawful. The Natural Resources Fund Bill, No. 21 of 2021, was passed in the National Assembly of Guyana on December 29, 2021, despite the Opposition’s despicable and reprehensible behaviour to block its passage in the National Assembly. The 2019 Act stands successfully repealed at the moment and has been replaced by this hallmark piece of legislation which will ensure the security, transparency and accountability that Guyanese need in order to benefit from the oil and gas revenues.

Private Sector Commission throws full support behind Natural Resource Fund Bill: News Source

The body says its sub-committee on Economic on Finance noted that the operationalization of the NRF will provide the much-needed resources which Guyana needs at this critical juncture for its development of National Infrastructure, Healthcare, Education and to mitigate the impending effects of Climate Change. The Private Sector Commission today threw its weight behind the passage of the Natural Resource Fund legislation in its current form even though its sister private sector body the Georgetown Chamber of Commerce and Industry called for the passage of the legislation to be delayed.

More time needed for public input on wealth fund bill, says GCCI: OilNOW

The Georgetown Chamber of Commerce and Industry (GCCI) says while it commends the Guyana government for its effort at attempting to improve public accountability and transparency with respect to the management and operation of the Natural Resources Fund, more time is needed for public input on the new proposed legislation. “Overall, the GCCI is pleased with the Bill’s general adherence with the international benchmark for Sovereign Wealth Funds, commonly referred to as the ‘Santiago Principles’,” GCCI said in a press release.

Civil Society groups, PNCR, ANUG worried about planned withdrawal of oil revenues: Demerara Waves

Four civil society organisations, People’s National Congress Reform (PNCR) and A New and United Guyana (ANUG) are worried that the Irfaan Ali-led administration is setting the stage to waste Guyana’s oil revenues under the guise of emergency use. The Guyana Trades Union Congress (GTUC), the pro-inclusionary democracy non-government organisation Article 13, and Transparency Institute of Guyana Inc (TIGI) said the Natural Resource Fund Bill would allow the government to withdraw US$1,250 million of the first US$2 billion but that would not include withdrawals for emergency financing.

Civil Society Member withdraws signature from letter objecting to NRF Bill: News Room  

— says he now has a clearer understanding of govt’s objectives

See below letter by Charles Sugrim, a member of the Civil Society Group that objected to the proposed amendments of the Natural Resource Fund (NRF) Bill: I have read the amendments to the bill that Parliament is expected to debate tomorrow. I believe that I rushed to put my name on the objection of the bill. Having read it, the proposals on the bill are as follows: There should be a management team made up of a Board of Directors of 9-10 persons.

NY Democracy Group supports Guyana’s Local Content & NRF legislation | INews Guyana

NY Democracy Group supports Guyana’s Local Content & NRF legislation

Doable and achievable reality: Guyana Times (Editorial)

Guyana becoming a developed country is not merely an optimistic hope, but a doable and achievable reality, because Government’s facilitation of investments can propel this nation into First World status. Before the People’s Progressive Party/Civic (PPP/C) Administration assumed the primary executive office in the land in October of 1992, Guyana was rated on international developmental indices as being on par with Haiti. Graphed during the People’s National Congress (PNC) Administration as the least developed nation in the world, with a crippling debt burden, Guyana’s development under the astute leadership provided by successive PPP/C Presidents has been rapid.

Reaching Consensus: Guyana Chronicle (Editorial)

IT is not easy to reach consensus on almost anything of importance to the nation. This is due in no small way to the political polarisation that had characterised our body-politic ever since the split of the PPP in 1955, when anything, however well-meaning and in the best national interest were not subjected to opposition by the People’s National Congress (PNC). The records will show that the PNC was opposed to lowering the voting age from 21 to 18 as proposed by the PPP. It teamed up with the then United Force to oppose the Kaldor Budget in 1962 which was crafted by the PPP Government to generate more money for national development.

Guyana advances major oil and gas legislation as pandemonium breaks out in Parliament: OilNOW

Guyana on Wednesday passed major bills in Parliament, soon to be signed into law, that would advance the country’s framework for managing the rapidly expanding oil and gas sector which is set to rake in billions of U.S. dollars for the nation of just over 750,000 people. The landmark Local Content Bill 21 of 2021 was passed paving the way for local companies and citizens to participate in no less than 40 critical areas in the oil sector which government and a number of private sector stakeholders say will ensure international oil companies and their contractors utilize more local services and products.

Guyana passes landmark local content bill: OilNOW

Guyana’s long awaited local content legislation will soon be a reality after the landmark Local Content Bill 21 of 2021 was passed today in the National Assembly. The landmark bill paves the way for local companies and citizens to participate in no less than 40 critical areas in the oil sector which government and a number of private sector stakeholders say will ensure international oil companies and their contractors utilize more local services and products. Minister of Natural Resources Vickram Bharrat, in the second reading of the Bill, said the secretariat which is to be established to monitor and oversee the local content framework will pay a key role in ensuring companies comply with the schedule of targets.

Govt uses one-seat majority to pass Local Content Bill: Village Voice News

—votes down opposition amendments, ignores calls for bill to be sent to select committee

Using its one-seat majority in the National Assembly, the Government, on Wednesday, passed the Local Content Bill with amendments despite pleas by the Opposition to have the Bill sent to a Special Select Committee to address a number of concerns. A Partnership for National Unity + Alliance For Change (APNU+AFC) Member of Parliament, David Patterson, who had submitted a total of 14 proposed amendments ahead of Wednesday’s Sitting, said while the Opposition is in full support of Local Content Legislation, it was necessary for the Bill to be sent to a Special Select Committee for further consultation on issues of major concern.

Landmark local content bill passed: Stabroek News  

-accounting services moved from 20% to 90%

After seven hours of vigorous debate, the landmark Local Content Bill to ensure that businesses and workers here benefit from the burgeoning oil and gas sector was passed in the National Assembly last evening. Before the 26 clauses of the bill were passed, the last hour of the debate was set aside for each clause to be considered individually before they were passed with amendments. All fourteen of the amendments which were proposed by APNU+AFC Member of Parliament David Patterson were defeated by the government majority. However, ten of those same amendments were agreed to after they were proposed with similar wording by the Government.

Govt. to strip ExxonMobil’s Business Centre of power to determine local content: Kaieteur News

– says companies gave detailed accounts of discrimination, neglect

With government proposing to create a Local Content Register of approved companies and citizens that must be used by oil companies and their subcontractors, ExxonMobil will no longer have the power to determine on its own, what constitutes local content. This was highlighted yesterday by Attorney General and Minister of Legal Affairs, Anil Nandlall during his contribution to the Local Content Bill 2021 debate. The Senior Counsel noted that the government intends to create a Local Content Secretariat which would create two registers of companies and Guyanese.

Oil companies will have to provide five year plans for employment, procurement, capacity building – Natural Resources Minister: Kaieteur News

Now that the Local Content Bill 2021 has received the blessing of the National Assembly, oil companies and their subcontractors will have up to December 2022 to prepare a five-year plan that outlines how they intend to employ and procure indigenous services, along with the implementation of programmes for capacity building. Outlining this was Natural Resources Minister, Vickram Bharrat, during the opening of debates on the Bill yesterday morning.

Gov’t, Opposition meeting on Local Content Bill foiled as Harmon a no-show: News Room  

A meeting between the government and opposition to discuss the APNU+AFC’s proposed amendments to the Local Content Bill had to be called off as Opposition Leader Joseph Harmon did not show up. The governing People’s Progressive Party/ Civic in a Facebook post confirmed that the meeting was scheduled to take place Wednesday morning ahead of a sitting of the National Assembly but when approached by the News Room, Opposition Chief Whip Christopher Jones denied that any meeting was set.

Bar Association says AG disrespectful to legal practitioners?: Kaieteur News

During yesterday’s sitting of the National Assembly, Attorney General Anil Nandlall in defending the proposed Local Content Bill told the House that when it comes to the provision of legal services, Guyana will contribute 90 percent of services, while the other 10 percent would be reserved for foreigners to peruse the more “technical contracts”. This statement was heavily criticised by the Guyana Bar Association – a body of legal practitioners.

Local Content Secretariat being established to enforce local content legislation: News Source

When the Local Content Bill is signed into law, the Ministry of Natural Resources will move immediately to set up and operationalize the Local Content Secretariat. The Secretariat will be based at the Ministry of Natural Resources and will be primarily responsible for the monitoring of companies involved in the oil and gas sector to ensure their adherence to the Local Content Laws. In presenting the Bill for a second reading in the National Assembly this morning, Minister of Natural Resources Vickram Bharrat explained that the Secretariat will be serving a key role in the enforcement of the legislation governing local content.

ExxonMobil, subcontractors to only pay US$5000 fine for failure to hand over records, reports, preventing access to facilities: Kaieteur News

ExxonMobil, subcontractors to only pay US$5000 fine for failure to hand over records, reports, preventing access to facilities. According to the PPP/C’s Local Content Bill 2021 which was passed yesterday, a Contractor, Sub-Contractor or Licensee shall allow the government’s Local Content Secretariat, or a representative of the Secretariat, unrestricted access to its facilities, records, reports, documents, data and information for the purposes of monitoring, assessing, evaluating, investigating, auditing and verifying compliance with this Act.

Energy Chamber fully supports wealth fund bill, says measures ensure greater accountability: OilNOW

The Guyana Oil and Gas Energy Chamber (GOGEC) said on Wednesday it is in full support of the Natural Resource Fund Bill 2021 which government hopes to have passed soon in Parliament and signed into law. See GOGEC’s statement below: GOGEC Supports the Natural Resource Fund Bill 2021. The Natural Resource Fund Act 2019 is an important piece of legislation albeit–for reasons of constitutional legitimacy, transparency, accountability, and governance of the Fund, the 2019 Act is set to be amended, inter alia, the Natural Resource Fund Bill 2021.

Explosion of business’ possible with Berbice deep water port – CGX: News Room

The multimillion deep water port being built aback Seawell village in Berbice could become a major hub for oil and gas business because of oil finds at nearby wells in Guyana and Suriname, Dr Suresh Narine, the Executive Chairman of CGX Energy, has said. According to Dr Narine, some components of the port should be completed by October 2022. Because of its location at the mouth of the Berbice river, Dr. Narine posited that the port is at a “prime location” to serve the offshore industry in both Guyana and Suriname.

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