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Business

More oil discovered at Lancetfish-2

ExxonMobil, the operator in the Stabroek Block, has reportedly found more oil at the Lancetfish-2 appraisal well, the Ministry of Natural Resources said Thursday. Government described the find as a “significant discovery”.  “The Lancetfish-2 discovery in the Liza Petroleum Production License area has unveiled an estimated 20 meters of hydrocarbon-bearing reservoir, along with approximately 81 meters of additional hydrocarbon-bearing sandstone.” ...

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Guyana inches closer towards phone number portability

The way is now almost clear for Guyanese to keep their existing phone numbers and decide whether to change the phone companies, the three telecommunications providers and the Public Utilities Commission (PUC) said. “The operators are about to enter a final testing period before the launch of number portability,” the said in a joint statement. As part of the launch ...

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Goldminer, architect, contractor shot during robbery in Diamond

A gold miner, architect and contractors were early Sunday morning shot and injured during a robbery committed on a gold miner at a business place in Diamond, East Bank Demerara, police said. The man from whom a 9 MM handgun, 10 rounds of ammunition a 38-pennyweight gold chain was stolen has been identified by police as gold miner 45-year-old Aubrey ...

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Guyana to host Caribbean Centre for Agriculture, data centre for farmers

The Inter-American Institute for Cooperation in Agriculture (IICA) will be assisting in the conversion of the Guyana School of Agriculture (GSA) into a Centre for Excellence in Agriculture and the establishment of a technology-driven data centre for farmers in the region, President Irfaan Ali announced on Friday. “IICA and the government of Guyana have agreed that we will develop a ...

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ExxonMobil rules out signing new stringent PSA; govt willing to consider minor non-fiscal amendments

ExxonMobil’s planned refusal to sign the new model Production Sharing Agreement (PSA) over concerns about Guyana lacking capacity to grant approvals was Thursday strongly rebuffed by the Guyana government. “We said we got feedback on the PSA and would not sign it as it was,” ExxonMobil Guyana’s President, Alistair Routledge told a news conference this week. Vice President Bharrat Jagdeo ...

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3rd Guyana Energy Conference and Expo billed for early next year

Guyana’s premier Energy Conference and Expo returns for its third installment in 2024, rebranded as Guyana Energy Conference and Supply Chain Expo, and projected to attract a larger number of participants, the event’s secretariat said Thursday. The Secretariat, along with its partners, said participants would include keynote speakers, policymakers, local and international industry experts. With over 1,200 attendees, 60 international ...

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Guyana to strengthen its education sector with IDB Support

The Inter-American Development Bank (IDB) approved a US$90 million loan to contribute to human capital development in Guyana, the hemispheric bank said Wednesday. The loan approved by the IDB’s Board of Executive Directors is designed to expand access to safe and improved learning environments and enhance educational services for vulnerable students in Guyana. This is the first individual operation of ...

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Mahipaul, Mustapha in fiery exchange over contract cancellation for Black Bush Polder pump

Opposition Shadow Local Government Minister, Ganesh Mahipaul and Minister of Agriculture Zulfikar Mustapha on Wednesday were at loggerheads 0ver the claims by that APNU+AFC parliamentarian that the termination of a contract to build an irrigation pump at Black Bush Polder would result in a loss of more than GY$38 million. But Mr Mustapha countered saying that his ministry’s National Drainage ...

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GRA rules out adjusting ExxonMobil’s audited US$214 million

The Guyana Revenue Authority (GRA) on Wednesday definitively ruled out any possibility of the US$214 million in disputed audited costs for expenses incurred from 1999 to 2017 being changed, leaving the door open now for the company to move to arbitration.  “The Authority wishes to categorically re-iterate that it stands by its advice to the Ministry of Natural Resources and ...

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Then MARAD Director-General, others relieved of duties over contract award; contractor asked to repay monies- Public Accounts Committee hears

The bipartisan Public Accounts Committee (PAC) of Guyana’s National Assembly was Monday informed that a number of then officials of the Maritime Administration (MARAD) were relieved of their duties for allegedly not abiding by the procurement rules that had led to the variation in the award of multi-million-dollar contracts. Government parliamentarian Dharamkumar Seeraj and his opposition counterpart, Ganesh Mahipaul questioned ...

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