Future participation in oil blocks should be done via State Holding Company – IMF tells Guyana - Panorama Insurance Brokers

Future participation in oil blocks should be done via State Holding Company – IMF tells Guyana

While some arguments have been put forward in favour of Guyana establishing a National Oil Company so that it may have a participating interest in its oil blocks, the International Monetary Fund (IMF), one of the key agencies assisting the country in building its governance capacity, is advising instead on the establishment of a State Holding Company.

According to the Fund, National Oil Companies present numerous governance and transparency challenges. But if Guyana’s authorities desire some level of participation, the Fund said they should establish a State Holding Company to manage its interest while noting that such an entity should fall under the oversight of the Ministry of Finance.

Read more at OilNOW.gy