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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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Oil traders head to Guyana for face-to-face contract bidding

At least half a dozen traders from Houston, Geneva and London are set to alight on tropical Guyana this weekend to bid on some of the first oil cargoes produced by the tiny South American nation, Bloomberg reported. Guyana has no experience in trading oil — and it’s looking to learn the basics from its very first buyer. The government ...

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Republic Bank already decided to compensate customers for inconvenience

About three hours after the Bank of Guyana said it would be pressing Republic Bank Guyana to compensate customers for inconvenience stemming from an upgrade of its system, the Trinidad-headquartered financial institution said it had days ago already decided to do so. “Importantly, at the Bank’s Annual General Meeting on December 9th 2019, Chairman, Nigel Baptiste, announced that the Bank ...

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Bank of Guyana now responsible for sovereign wealth fund

Guyana’s central bank, the Bank of Guyana, on Wednesday formally took over responsibility for managing the Natural Resources Fund also known as the sovereign wealth fund (SWF), even as Guyana awaits word from the Federal Reserve Bank of New York (or the New York Fed) on due diligence where the monies will be deposited. Governor of the Bank of Guyana, ...

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