Guyana could lead new global oil producers’ group 

Guyana has been invited to lead a global group of the world’s newest oil-producing countries, Natural Resources Minister Vickram Bharrat announced Saturday.

Bharrat spoke at the inauguration ceremony of the new Vreed-en-Hoop shore base facility on Saturday. During his address, he said Guyana was asked to chair the new worldwide group.

This group, he explained, comprises new oil producers like Ghana, Namibia, and possibly, Suriname.

“They would have invited Guyana to chair that group, I think it is for the next three years starting February.

“We have that correspondence in our position, so at a policy level we will make a decision as to how we move forward with it,” Bharrat said.

It is not a formal body like the Organization of Petroleum Exporting Countries (OPEC) so Bharrat said it seems as though there is “no harm” in being part of this body.

And for him, Guyana’s invitation to lead the body shows that the country is enjoying widespread attention. Bharrat further noted that the invitation gives credence to local developments be it the government’s establishment of the Natural Resource Fund (NRF) or its use of oil resources.