Constraints on petroleum-based regulatory bodies in Guyana-type economies


Today’s column concludes discussion on the institutional aspects of Guyana’s preparations for its coming petroleum industry. The discussion focuses on the proposed regulatory commission, as expressed in the government’s Draft Petroleum Commission of Guyana Bill (PCB), presently in circulation among stakeholders.

Although the Guyana Geology and Mines Commission (GGMC) is responsible for oversight of Guyana’s petroleum sector, through its Petroleum Division, the government has expressed preference for a dedicated, stand-alone Petroleum Commission. The principal reasons offered are:  “the complex nature of the petroleum sector”; the several “cross-cutting issues” regarding petroleum’s social and economic impact; Government’s commitment to…to continue reading this article, please subscribe.  Already a subscriber ? Sign In.

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