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ExxonMobil yet to fully quantify Stabroek Block discoveries to date

ExxonMobil on Friday indicated that it has not fully estimated the amount of commercially available oil that has been discovered so far at the Stabroek Block offshore Guyana, saying that it was still to quantify the Ranger well. “We have some more appraisal wells to go in Ranger.We know, of course, from our discovery that we have a considerable resource. ...

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Funding for Lethem-Linden road, new Demerara River bridge likely through China’s Silk Road initiative

Guyana and China on Friday inked an accord to facilitate cooperation through the the Silk Road Economic Belt and the 21st Century Maritime Silk Road Initiative that could pave the way for funding the construction of the Linden-Lethem Road and a new Demerara Harbour Bridge. China’s Ambassador to Guyana, Cui Jianchun singled out the Linden-Lethem Road, Demerara Harbour Bridge and the upgraded ...

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More Guyanese to be employed with Edison Chouest Offshore

More Guyanese are expected to be employed by Edison Chouest Offshore as the company aims to soon open its local company ‘G (Guyanese) Boats’ in Georgetown to support Guyana’s emerging offshore oil and gas sector. That was disclosed by the company’s Business Development Manager, Daniel LaFont, who was at the time speaking on the sidelines of the El Dorado Offshore ...

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CARICOM countries exposed to training to better monitor medicines

The Ministry of Public Health, in collaboration with the Pan American Health Organisation/World Health Organisation (PAHO/WHO), is currently hosting a Post Market Surveillance and Pharmacovigilance Workshop in Guyana, to improve monitoring of medicines for safety and quality in CARICOM states. The sub-regional workshop is intended to expose senior regulatory officials from CARICOM countries to key approaches and tools that can ...

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Afro-Guyanese promised easier access to loans, grants; govt to be asked for more money

The Ministry of Business’ Small Business Bureau on Wednesday announced that it was offering up to 70 percent guarantee of loans with the expectation that supporting commercial banks would take the risk on the remaining 30 percent. SSB Chief Executive Officer, Lowell Porter explained that at first the guarantee was 40 percent if borrowers fail to repay the banks, but ...

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Frank Anthony criticises government for chalking up huge public debt; Jordan says treasury bills will be issued

The opposition People’s Progressive Party (PPP) is increasingly hammering government over spending billions of tapping into more GY$50 billion from the Bank of Guyana for public spending, the latest critic being parliamentary front-bencher Dr. Frank Anthony. “As a Member of Parliament, it is my responsibility to continue to use my office to bring light to these significant bread and butter ...

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One-stop Afro-Guyanese business development outreaches get underway

Afro-Guyanese businesses are being mobilised to show them how they can access financing and understand some of the basic rules of doing business, as part of an overall move to nurture more Black-owned businesses, a top local organiser said. The first of three outreaches is slated for Wednesday at 1 PM at Critchlow Labour College, Woolford Avenue. The Chief Executive ...

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Harmon, Trotman, Clive Thomas to participate in Buxton Emancipation Observances

The Buxton First of August Movement has organized its annual activities to observe the 180th anniversary of the end of plantation slavery in Guyana and the Anglophone Caribbean under the theme, “Emancipate Yourself from Mental and Economic Slavery”, the organisation said Tuesday. “This year’s theme draws attention to the ongoing need for African Guyanese to redouble their efforts to make ...

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Guyana’s proven oil-equivalent reserves now 4 billion barrels; revised production target now 750,000 barrels daily

IRVING, Texas–(BUSINESS WIRE)–ExxonMobil said Monday it has increased its estimate of the discovered recoverable resources for the Stabroek Block offshore Guyana to more than 4 billion oil-equivalent barrels and has advanced its evaluation to support a third phase of development and consideration of two additional phases. The increase follows completion of testing at the Liza-5 appraisal well, a discovery at Ranger, ...

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Guyana moves one step closer towards establishing Sovereign Wealth Fund

The policy framework for Guyana’s proposed Sovereign Wealth Fund (SWF) is to be laid in the National Assembly in the coming days, to make way for eventual tabling of legislation that will provide for the involvement of the opposition in managing the expected huge windfall of oil revenues, Finance Minister Winston Jordan said. “It will have multiple layers of oversight…The ...

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