Guyana Ranked 10th Most Competitive Oil & Gas Jurisdiction In The World

• Among the oil and gas jurisdictions in the world, Guyana has performed well in its management of the industry and it is ranked 10th ahead of Brazil and Argentina for competitiveness in exploration and production by internationally respected business intelligence firm, IHS Markit. 
• Guyana continues to send a positive message to companies around the world that the country has a trustworthy investment climate that will bring attractive investment and partners into other sectors. Notably, IHS Markit indicated that the main challenge for Guyana is managing the flow of money to the country to prevent overheating and distortions of the economy. 
• However, Guyana’s Vice President Dr. Bharrat Jagdeo has said that while overheating is a fair concern, the Government is keeping careful watch. This caution will be especially pertinent as Guyana’s revenues balloon. With current production, Guyana is already expecting almost US$1Bn this year. 
• Guyana continues to position itself as a key producer in the oil and gas industry, with the capacity to cushion some of the supply shortfalls on the global market. As such the industry will continue to contribute to the country's revenue, investment opportunities, and economic growth.

 (Source: Caribbean News Global)