Contract transparency: Next steps for Guyana

Posted on May 21, 2020May 21, 2020 by webadmin

Guyana, a small South American nation of less than 800,000 inhabitants, holds remarkable oil reserves. Recent discoveries looked certain to transform Guyana’s economy, and the IMF estimated a 52.8% growth in Guyana’s GDP in 2020. However, the recent oil price shock has the potential to disapp...

‘FIRST TRADES IN OIL’ TRANSPARENCY – IMPORTANT EITI DISCLOSURE REQUIREMENT

Posted on May 8, 2020May 8, 2020 by webadmin

Initial meeting between department of energy and GYEITI to establish methods and procedures for collection of data and information for preparation of EITI report on first trades in oil, was held on 28th January, 2020. See Joint Communique of meeting Joint Communique – GYEITI and Department of E...

GYEITI Workplan 2020

Posted on April 21, 2020April 21, 2020 by webadmin

PDF document below GYEITI Workplan 2020

GYEITI Annual Progress Report 2018

Posted on April 21, 2020April 21, 2020 by webadmin

PDF document below GYEITI Annual Progress Report Financial Year 2018

Bridging the gap: Recommendations on the transition to systematic transparency of extractives data

Posted on February 18, 2020February 18, 2020 by webadmin

This expert report, authored by independent consultant Anwar Ravat, was originally commissioned to review the data assurance procedures used in EITI implementing countries and their cost, and to determine whether the use of Independent Administrators (AIs) safeguards the reporting of comprehensiv...

Qatar Petroleum joins EITI as a supporting company

Posted on February 18, 2020 by webadmin

State-owned petroleum company Qatar Petroleum will join the EITI as a supporting company, announced EITI’s Corporate Engagement Manager Andrew Irvine today, in a discussion on the EITI’s outreach plans at the organisation’s Addis Ababa Board meeting. “It is encouraging to see a large a...

Niger rejoins the EITI

Posted on February 18, 2020 by webadmin

Niger returns to the EITI as 53rd implementing country, renewing its commitment to extractives transparency Following the country’s withdrawal from the EITI process in October 2017, the Government of Niger has re-committed to implement the EITI. Its candidature was approved by the EITI Board t...

Gov’t releases first report on oil production

Posted on February 18, 2020February 18, 2020 by webadmin

Source: Guyana Chronicle News Crude sales and entitlements from Liza Destiny in BBL. IN keeping with rules set out in the Natural Resource Fund (NRF) Act 2019, the Ministry of Finance has released Guyana’s first Report on Petroleum Production and Revenues (RPPR) for the period of December 2019....

Guyana celebrates First Oil

Posted on January 20, 2020January 20, 2020 by webadmin

Source: DPI, Guyana, Friday, January 17, 2020 Guyana’s official celebration of first oil coincides with the first lift of the Liza Destiny. The first crude oil tanker arrived today to take out the first million barrels of oil. This was announced during a cocktail reception on Friday evening at ...

Understanding oil prices

Posted on January 20, 2020January 20, 2020 by webadmin

Source: DPI, Guyana, Sunday January 18, 2020 Oil prices across the globe are unpredictable as it is prone to wild “boom and bust” swings. With Guyana being a new comer on the petroleum market, it is imperative to know and understand the way the markets work and what influences the fluctuati...

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