Business

Even as the Guyana-registered El Dorado Offshore maintained that it only hires Guyanese to work aboard oil industry vessels offshore Guyana, that company conceded that seafarers would violate their contract if they disclose their wages and employment conditions to the Labour Department, but the company could not block government from probing complaints. El Dorado Offshore’s Manpower and Recruitment Director, Natasha Jairam-Abai ...

The Guyanese government needs to address underlying weaknesses in the country’s proposed Sovereign Wealth Fund’s design to maximize its effectiveness, according to a report released Wednesday by the United States-based Natural Resource Governance Institute. In the document, analysts praised government for taking a number of commendable steps in its plan to save a portion of the country’s forthcoming oil revenues in ...

The United States (US) has ordered Guyanese hotelier, Shervington ‘Big Head’ Lovell and other alleged co-conspirators in cocaine trafficking to forfeit a range of properties. Lovell, Agimero Zapata Castro, and Surinamese Steven Antonious have been charged with violating US maritime drug enforcement laws between April and July, 2018 in Guyana, Jamaica, Colombia , the high seas an elsewhere. In the grand ...

The incumbent A Partnership for National Unity (APNU) has set the tone for the 2020 general elections, saying that oil would be the battleground to determine which party would get its hands on the oil revenue Finance Minister, Winston Jordan appealed to party faithful at the last 2018 Local Government Elections public meeting before Monday’s vote that they must ensure ...

Finance Minister, Winston Jordan  Saturday night accused the People’s Progressive Party Civic (PPPC) of paying annual one-month bonus salaries to members of the Disciplined Services to bribe them into taking action against opponents of the their administration. “You know why they were trying to buy off our people in the military and in the police. They were trying to suppress ...

The captain of the ill-fated Fly Jamaica Airlines jet that made an emergency landing at the Cheddi Jagan International Airport alleged that several personal items were stolen from the plane, police said. Police and fire officials  said at least nine fire fighters were being questioned by investigators in connection with the reported theft. Fire Chief Marlon Gentle said the pilot ...

A Fly Jamaica airliner crashed early Friday morning at the Cheddi Jagan International Airport, Timehri, officials said. Six persons were injured and rushed to Diamond Regional Hospital. “They are all stable and are being looked at,”  Minister of Public Infrastructure, David Patterson said.  He added that all the persons aboard have been accounted for with minor injuries. “No reports of ...

Former Prime Minister of Trinidad and Tobago, Kamla Persad-Bissessar  Thursday night urged Guyana to formulate a broad-based national development policy to spend expected “massive” oil wealth on developing the country over the next 200 years. Addressing the Guyana Manufacturing and Services Association Awards and Dinner, the Opposition Leader also warned Guyana against establishing a state oil company because firing workers ...

The Caribbean Regional Fisheries Mechanism (CRFM) is willing to assist Guyana in assessing whether offshore oil industry work is impacting on fish stock, but Guyana says it may be better for oil companies to collect the relevant data. CRFM Executive Director, Milton Haughton said Guyana has not asked for help in that regard, but fishers in the rest of the ...

Oil companies interested in acquiring concessions, including those in ultra deep waters, will have to wait until early 2020 by which time the country is expected to have a model Production Sharing Agreement (PSA) and upgraded laws, officials said Thursday. Head of the Ministry of the Presidency’s Department of Energy, Dr. Mark Bynoe said government was in no hurry to ...