CPSO attack on Guyana’s Local Content Policy: Guyana getting short end of stick in trading with Caricom – GCCI President: Guyana Times  

– says Caribbean will lose should Guyana exit CSME

The umbrage taken by the Caribbean Private Sector Organisation (CPSO) to Guyana’s efforts to protect its own local content, has sparked criticism and calls for Guyana to consider exiting the Caricom Single Market and Economy (CSME). According to one Private Sector official, Guyana has always been short-changed within the bloc, when it comes to trade. The disparity between Guyana’s exports and imports to the region was recently referenced by Georgetown Chamber of Commerce and Industry (GCCI) President Timothy Tucker, who posted statistics to his social media page from the Bureau of Statistics dating back to 2019, to show that Guyana imports far more than it exports, to the Caribbean region.

‘Consult the people’: Village Voice News

—US Government urges Guyana Government

Amid growing concerns about the lack of public participation in the formulation and eventual passage of the Natural Resources Fund (NRF) Bill, the US Embassy here has stressed the need for the involvement of citizens in the decision-making process especially on projects and initiatives that that will affect their lives. Although not stating directly, the embassy’s statement seems to be aimed at the Irfaan Ali Government that has come under widespread condemnation for ramming through Parliament a flawed Natural Resources Bill and then speedily signing it into law.

Goolsarran criticises NRF Act: Stabroek News  

-says private sector should not have place on board

Former Auditor General Anand Goolsarran has added his voice to the barrage of criticism that has greeted the Natural Resource Fund Act which was rushed through the National Assembly on December 29 by the government without any prior consultation. In today’s Stabroek News, in his Accountability Column (see page 8) which has been evaluating the legislation against the Santiago Principles, Goolsarran took particular aim at the oversight mechanisms for the Act and its proposed Board of Directors.

Constitutional reform to get underway soon – Nandlall: Guyana Times

– expects full participation from stakeholders

After being delayed last year, Attorney General and Legal Affairs Minister Anil Nandlall, SC, has disclosed that the constitutional reform process will finally get underway soon. He made this announcement during last week’s edition of his weekly programme, “Issues In The News”, during which he revealed that he has already requested for a meeting to be held with the Parliamentary Standing Committee For Constitutional Reform. “We are going to start the constitutional reform process. It was stymied last year because of COVID and a number of other matters.

‘Use meeting with Brazil President to repair credibility on climate issues’ – GHRA tells Guyana Govt.: Kaieteur News

Ahead of Friday’s state visit here by Brazil President Jair Bolsonaro, the Guyana Human Rights Association (GHRA) says the Government of Guyana should use the opportunity at the upcoming meeting to re-habilitate its tattered credibility on climate issues, by distinguishing its Amazonia policies, from the Brazil leader’s scorched earth approach. Bolsonaro is due here on Friday and at a recent preparatory meeting, President Dr. Irfaan Ali listed energy, food security, telecommunication, infrastructure integration and trade as some of the issues he would like to discuss with his Brazilian counterpart.

The Santiago Principles and the NRF Act 2021 (Part II): Stabroek News (Columnist) Accountability Watch by Anand Goolsarran

Last week, we began a discussion of the Santiago Principles and the extent to which the recently passed Natural Resource Fund Act 2021 is in conformity with those principles. Section 4 of the Act provides for the Fund to be managed in accordance with ‘the principles of good governance including transparency and accountability, and international best practices including the Santiago Principles’. So far, we have discussed the first five of the 24 principles. In today’s article, we look at Principles 6-12.

The questionable agreements between the oil companies and the Government of Guyana: Kaieteur News (Letter to the Editor) by Kris Kooblal

Guyana is a relatively small South American country of three quarters of a million people on the tip of the continent that was previously a British colony, British Guiana, that experienced slavery and indentureship for several centuries that ended in 1914… Guyana has two major political parties that in the last elections held in 2020 garnered more than 95 percent of the participatory electorate where the People’s National Congress/Reform, supported by African Guyanese and the People’s Progressive Party/Civic, supported by East Indian Guyanese had an almost equal number of votes.

Given Guyanese lack of capacity…American group and TT firms take over Exxon’s multi-million dollar waste management contracts: Kaieteur News

In light of the fact that there is a limited number of Guyanese service providers of hazardous and nonhazardous waste management, Tiger Rentals- a U.S. based energy rental and service company with its subsidiaries in Guyana and Trinidad, have been dominating the majority of ExxonMobil’s multi-million dollar waste management contracts. Also getting a piece of the pie are five Trinidadian firms: Oil Mop, Enviro Care (Preysal), CamQuip, Tiger Tanks, Chaguramas Shorebase. This is outlined in ExxonMobil’s Comprehensive Waste Management Plan (CWMP) submitted to Guyana’s Environmental Protection Agency (EPA) last year.

Use of oil funds finally begins this year: Guyana Times  

– GNBS to begin testing Guyana’s crude oil this month

For many, a pressing question since Guyana received its first oil payment in 2020 has been when will Guyanese benefit directly from the oil revenue. Since it came to power in August 2020, the People’s Progressive Party (PPP) Government has steadily refused to touch the money until a transparent system for withdrawals was set up. The recently passed Natural Resource Fund (NRF) Act has now set up such a system, allowing for the Government to make withdrawals from the Fund, overseen by Parliament and a Board of Directors, in order to finance urgent development needs for the country – including one early withdrawal in the first fiscal year of the Act.

Lau Lau-1 is Exxon’s largest discovery by depth in Guyana; almost three times the height of Marriott Hotel: OilNOW

To date, there have been more than 20 major discoveries in the ExxonMobil-led Stabroek Block offshore Guyana. The largest of them by depth is Lau Lau-1 which was announced on January 5 by the American multinational. The Lau Lau-1 well encountered approximately 315 feet (96 meters) of high-quality hydrocarbon-bearing sandstone reservoirs. To put this into context, the discovery in height, is equivalent to three (Georgetown) Marriott Hotels (105.88 ft) stacked on top of each other. It is also more than two times the height of the St. George’s Cathedral (143 ft), one of the world’s tallest freestanding wooden buildings.

Oil money to back youth-led agri programme in South America’s newest hot spot: OilNOW

Even though Guyana’s hydrocarbon sector has dominated the spotlight since its emergence in 2015, the Irfaan Ali-led government is determined to demonstrate that the South American country will not be solely dependent on oil. Just last week, President Irfaan Ali launched the Agriculture and Innovation Entrepreneurship Programme (AIEP) at the Arthur Chung Convention Centre (ACCC) on the outskirts of Georgetown. This is an initiative that will see Guyanese youths becoming shareholders of a company that will manage 25 shade houses for the production of broccoli, cauliflower and carrots.

Guyanese inspectors will begin testing crude produced offshore from this month: OilNOW

The South American country of Guyana has been striking oil in quick succession and building the capacity needed to manage the new industry in stride, with officers from the country’s standards bureau already carrying out monitoring activities on the first oil production complex – the Liza Destiny. Now, from this month, inspectors will begin testing the crude being produced some 120,000 miles offshore, as the second Floating Production Storage and Offloading (FPSO) vessel – Liza Unity – is set to come on stream soon.

Gov’t gets multiple bidders for work on bridge linking Suriname | World News | Jamaica Gleaner

Oil holds firm just above $86: OilNOW

(Reuters) – Oil prices were steady on Monday, as investor bets that global supply will remain tight amid restraint by major producers were offset by a rise in Libyan output. Brent crude was down 4 cents, or 0.1%, to $86.02 a barrel by 0953 GMT. Earlier in the session, the contract touched its highest since Oct. 3, 2018, at $86.71. U.S. West Texas Intermediate crude was up 20 cents, or 0.2%, at $84.02 a barrel, after hitting $84.78, the highest since Nov. 10, 2021, earlier in the session.

Dr. David E. Lewis
Vice President
Manchester Trade Ltd. Inc.
International Business Advisors
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