The Parliament of Guyana, where more than 10 billion barrels of oil equivalents have been discovered over the past half-decade, voted this week to amend its Natural Resource Fund (NRF) Act that will govern a sovereign wealth fund managing the proceeds from oil. The Parliament also passed the so-called local content bill requiring foreign companies to ensure they use Guyanese individuals and companies for everything from catering services to accounting by the end of next year.
The sovereign wealth fund currently stands at US$534 million, Guyana…China Mandates State Companies To Reduce Energy Consumption
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