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Tullow shares fall most in 21 years on Guyana oil-quality concern

Reproduced from Bloomberg Tullow Oil Plc fell the most in two decades in London trading after saying it’s reassessing the commercial viability of discoveries in Guyana. The stock sank as much as 23% on the news that crude from two wells in the South American country was found to be heavy, with a high sulfur content. That’s disappointing to shareholders ...

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Bulk of oil wealth to trickle down to ordinary Guyanese -Granger

President David Granger promises that the bulk of Guyana’s oil revenues will trickle down to ordinary people and some will be used to revive the country’s village economies and social programmes. “We will put the benefit, we will put the profit, we will put the better part of that petroleum revenue to ensure that your children will never be poor ...

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Engine trouble forced Caribbean Airlines’ Guyana-New York flight to divert to The Bahamas

A New York-bound Caribbean Airlines flight from Guyana diverted to The Bahamas Saturday night. The carrier on Sunday confirmed that flight BW 526, with 134 passengers and 7 crew on board, diverted to The Bahamas due to a mechanical issue with one of its engines. Caribbean Airlines says the aircraft has been withdrawn from service and all appropriate inspections and ...

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GPL Board overturns firing two directors

The Board of the state-owned Guyana Power and Light (GPL) on Friday overturned a decision by the Chairman and Chief Executive Officer to send home two directors, sources said. Deputy Chief Executive Officer, Renford Homer and Director of Human Resources, Bal Persaud could be back on the job if the Chairman, Rawle Lucas and the Chief Executive Officer, Albert Gordon ...

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Importer denies Food & Drugs Dept GYD$40m substandard foods allegations

The Ministry of Public Health’s Government Analyst-Food and Drugs Department (GA-FDD) and a businessman are set to take each other to court over GYD$40 million worth of food that authorities say are substandard. The businessman, Faizal Asif Iqbal Alli, has denied the allegations levelled against him. He is threatening to take the GA-FDD to court if perishable and other items ...

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Guyana gets US$1.7m to mainstream low-emission energy technologies

As Guyana forges ahead with its plan for a ‘green’ state, the Government, through the Office of Climate Change (OCC), has partnered with the United Nations Development Programme (UNDP) and the Global Environment Facility (GEF) to implement a project titled the “Mainstreaming Low Emissions Technologies to build Guyana’s Green Economy,” through US$1.7 million in financing from the GEF. The grant ...

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Guyana ramps up plans for selling crude oil

Guyana’s preparations for the start of commercial oil production and lifting is moving apace and these include having a third party aboard the floating production, storage and offloading (FPSO) vessel overseeing the movement of oil, Head of the Ministry of the Presidency’s Department of Energy, Dr. Mark Bynoe said Wednesday. “It is the government’s desire to be pursuing a third-party ...

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