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ExxonMobil begins oil production in Guyana

IRVING, Texas – ExxonMobil Friday announced that oil production has started from the Liza field offshore Guyana ahead of schedule and less than five years after the first discovery of hydrocarbons, which is well ahead of the industry average for deepwater developments. Production for Liza Phase 1 to reach full capacity of 120,000 barrels of oil per day in the ...

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GMSA wants local sale of Guyana oil portion to lower electricity cost

The Guyana Manufacturers and Services Association (GMSA) recommends that the country’s entitled portion of refined oil be sold locally at a cheaper price in order to lower the cost of electricity especially to businesses. GMSA President, Clinton Williams noted that many of the “long-standing jeopardies” are closely linked to the high cost and unreliability of electricity, resulting in poor performance ...

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PPP vows to block oil company selected for 3 million barrels of ‘trial’ oil; Bynoe assures “zero tolerance policy on corruption”

General Secretary of the People’s Progressive Party, Bharrat Jagdeo on Thursday said if his party wins the March general elections, his government will block the company selected for a trial sale of Guyana’s first three million barrels of oil. “Now let me make it clear that any company that ties up an arrangement now, we have made a decision that ...

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Guyana strengthening anti-money laundering system but lawyers, property dealers, charities among “most vulnerable”

Lawyers, accountants, real estate agents, used car dealers and registered charities were Wednesday highlighted as “most vulnerable” to money laundering, even as the Guyana government boasted of making headway in reducing the country’s “high” risk for financial crimes. National Risk Assessment (NRA) Coordinator, Alicia Williams said a 2016-2017 National Risk Assessment found that, “the most vulnerable sectors were the attorneys-at-law, ...

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Local content policymakers resisting political pressure

Head of the Ministry of the Presidency’s Department of Energy, Dr. Mark Bynoe Wednesday night said the architects of Guyana’s local content policy would not be swayed by politicians who seek to galvanise support from among ordinary people at election time. Bynoe indicated that local content policymakers were under constant political pressure to generate jobs and other opportunities in a ...

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Gov’t management of Berbice Bridge upheld by Chief Justice

Government has been given the green light to continue managing the Berbice Bridge Company Incorporated (BBCI), government’s Department of Public Information reported. This comes as Chief Justice Roxanne George issued a ruling on Wednesday that deemed the administration’s supervision of the bridge as lawful. BBCI had moved to the courts to overturn the Government’s decision but this was stopped as ...

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No procurement violation for “trial” sale, quality testing of Guyana’s first 3 million barrels of oil

The Ministry of the Presidency’s Department of Energy on Monday denied breaching the procurement process for sale of Guyana’s first three million barrels of oil aimed at what officials say is the removal of impurities and setting of standard for Guyana to get the best price for its oil. “This is sale; this is not the procurement of a good ...

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Traffic Chief suggests possible banning of minibuses

The Guyana Police Force’s Traffic Chief, Linden Isles has floated the idea of possibly banning the importation of reconditioned minibuses or insisting that all such vehicles must be brand new as one way of dealing with the congestion of city bus parks. “Look, the Guyana Revenue Authority, the government look at how many vehicles that are being registered; hold on ...

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Suriname eyes Cuba, Barbados rice markets

Suriname’s Agriculture Minister, Rabin Parmessar is in Cuba to secure rice exports for next year.  That country’s ministry says it will do everything to make urea fertiliser and other inputs available at attractive prices and as soon as possible. Starnieuws reports Mr. Parmessar as saying Suriname — representatives of the rice sector and government — has been searching for new ...

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Tullow may decide within one year fate of Guyana oil discoveries

The United Kingdom-headquartered oil company, Tullow Oil, may take another year before it actually decides what it will do with its two oil discoveries offshore Guyana. A senior company official informs News-Talk Radio Guyana 103.1 FM/Demerara Waves Online News that it will cost a lot more money to extract the oil commercially. The industry source explains that’s because of the ...

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