THE Ministry of Natural Resources said while it remains the accounting agency for the Department of Environment up until budget 2019, all petroleum related matters are addressed by that department which falls under the Ministry of the Presidency.

In a release on Monday, the ministry justified its placement of advertisements requesting expressions of interest for Consulting Firm Services for ‘Consultancy Services for Oil and Gas Project Evaluation (Phase 1)’ and ‘Consultancy for A Cost Recovery Audit in Guyana,’ which have since attracted the attention of sections of the media.

In a recent edition, Kaieteur News carried a story headlined, “Gov’t acts contrary to its own decision to move oil from Natural Resource Ministry.”
But this did not sit well with the ministry.

“The article seeks to give the idea that the ministry is confused, and questions the role that it currently plays in the oil and gas affairs, given that the portfolio has been shifted to the Department of Energy, Ministry of the Presidency,” the Natural Resources Ministry said.
It however clarified that the Natural Resources Ministry held oil and gas portfolio at the time of World Bank loan.

“It must first be noted that after negotiations by the Ministry of Finance, a World Bank loan for Guyana’s Oil and Gas Capacity Building Project was finalised. This loan came into being earlier this year, before the establishment of the Department of Energy.”

“Additionally, since the Ministry of Natural Resources held the oil and gas portfolio at the time, it was designated as the focal point for the loan and for the Project Implementation Unit (PIU). It was after the formation of the DoE and discussions with the quintet ministers and Dr. Mark Bynoe, that it was decided that until budget 2019, MNR would remain as the accounting agency only for the procurement aspects and disbursement of funds,” the ministry explained.

It maintains all decisions are made by the Department of Energy and the Ministry of Natural Resources implements them as instructed. “This system functions as a bridging mechanism until the DoE becomes formally established as a budget agency in the 2019 budget which will come in a few months’ time,” the ministry said.