Business

The Canadian oil exploration company (CGX Energy) and its partner, Frontera Energy, on Saturday injected GYD$24 million into Guyana’s battle against the coronavirus, COVID-19. The joint venture partners donated 40,000 boxes of locally-produced Morning Glory rice cereal worth GYD$14 million and GYD$10 million cash is expected to be disbursed. Both forms of assistance are being funneled through the Civil Defence ...

Guyana has put a “hold” on the international bidding process for oil companies to lift and sell its share of crude oil sales from one of ExxonMobil’s several oil fields offshore the north-east coast of South America, Vice President Bharrat Jagdeo announced Friday. He said the now one-week-old administration, which was sworn in five months after a disputed general election, ...

The Guyana government plans to open negotiations with United States (US) oil giant ExxonMobil to purchase natural gas to push industrialisation and provide cheap electricity to the nation as well as entrench local content requirements to ensure Guyanese are not paid lower salaries than in other countries, Vice President Bharrat Jagdeo told a news conference on Friday. Claiming that the ...

by Samuel Sukhnandan Although promising to reverse over 200 tax measures with immediate effect upon assuming office, the new People’s Progressive Party (PPP) government said this cannot be implemented in full measure right now due to several budget constraints. Vice President Mr. Bharrat Jagdeo made that disclosure on Friday during a press conference, when he was asked by News Talk ...

Vice President Bharrat Jagdeo on  Friday said the owner of Ocean View International Hotel, which has been converted into an Infectious Disease Hospital, is unlikely to regain possession of his building in the immediate future. “I must say that he’ll have a long wait,”  said Mr. Jagdeo in reference to the owner of the seaside building at Liliendaal, Greater Georgetown. ...

by Samuel Sukhnandan Government has recorded over GYD$22 million in damage to public infrastructure due to accidents with a large portion of that sum falling directly within the East Coast Demerara Public Road Widening Improvement Project. Technical Services Manager of the Ministry of Public Infrastructure Nigel Erskine told News Talk Radio 103.1 FM/Demerara Waves Online News Online that over $19 ...

The shake-up in the management of Guyana’s state media continues with the removal of persons who appeared connected to the People’s National Congress Reform (PNCR)-led coalition, the latest being at the National Communications Network (NCN) and the Guyana National Newspapers Limited (GGNL). Broadcaster and middle-level manager, Michella Abraham-Ali has been elevated to the post of acting Chief Executive Officer. She ...

Guyana has asked Canada for help in reviewing the Payara oil field project before government approves the development plan to allow for ExxonMobil to issue its Final Investment Decision (FID), President Irfaan Ali said Tuesday. “We are in the process of engaging an international expert to do that review on the work that has been done so far,” he said. ...

The National Industrial and Commercial Investments Limited (NICIL), the holding company for government’s assets, will be asked to return the closed sugar estates to the state-owned Guyana Sugar Corporation (GuySuCo) which will be reopened after a review is done, Agriculture Minister Zulficar Mustapha said Tuesday. “In terms of the timeframe for reopening the closed sugar estates, first of all GuySuCo ...

Minister of Agriculture Zulficar Mustapha on Tuesday said he has asked the Guyana Rice Development Board (GRDB) to provide details about 1.5 tons of cocaine that German authorities said were found stashed in a sacks of rice from Guyana. Mr. Mustapha expressed concern that the drug find would taint the image of rice, one of Guyana’s main exports. “I am ...