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Guyana’s former sugar estate lands available for oil sector-related real estate development

Guyana is making available large swathes of former sugar estate lands for constructing upscale houses and business complexes for the burgeoning oil and gas sector, but a top government official cautions that the lands cannot be held indefinitely for speculation. “These developments will come with a time-frame so you can’t take an acre or ten acres and say you will ...

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Harmon to be parliamentary spokesman on oil

The Guyana government on Friday said the establishment of a separate ministry to govern the lucrative oil and gas sector was not on the cards and that the Minister of State, Joseph Harmon would represent the sector in the National Assembly. “Once it is in the Ministry of the Presidency, the Minister of State is the person who will answer ...

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Guyana Chronicle’s board distances self from decision to discontinue David Hinds, Lincoln Lewis columns

The Board of the Guyana National Newspapers Limited (GNNL) had nothing to do with the decision to inform Professor David Hinds and Trade Unionist Lincoln Lewis that their columns would no longer be published in the state-owned Guyana Chronicle, Board Chairwoman Geeta Chandan-Edmond said. Reacting to a Demerara Waves news report earlier Friday in which the newspaper’s Editor-in-Chief, Nigel Williams ...

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Pegasus for US$100 million expansion; owner says tax regime unattractive to Guyana’s private sector

As the Pegasus Hotel prepares to construct a US$100 million Corporate Centre and Suites, its owner Robert Badal Thursday night urged government to stop taxing start-up investment projects heavily as they seek to enter the marketplace and contribute to Guyana’s growth and development. He contended that heavy taxation was discouraging the local private sector from investing heavily. “The main reason, ...

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ExxonMobil plans 20 projects offshore Guyana; calculations pegged at US$40 per barrel

ExxonMobil plans 20 oil exploration projects offshore Guyana, using a projected cost of US$40 per barrel, company officials said Wednesday. The corporation’s Vice President Neil Chapman said  his company has found 3.2 barrels of oil equivalents and is gearing up to drill 20 more wells in the Stabroek Block. “We also have considerable additional potential in this region. We have ...

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ExxonMobil signals reluctance to renegotiate contract with Guyana; rules out skullduggery in operations

ExxonMobil on Tuesday assured that there would no skulduggery to inflate expenses or steal Guyana’s oil and at the same time appeared reluctant to renegotiate its controversial Production Sharing Agreement with Guyana although larger quantities of oil are being found in the Stabroek Block. In response to a question at Private Sector Commission-organised seminar on Guyana’s oil and gas sector, ...

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ExxonMobil’s contract will yield more royalties than gold annually

In the face of persistent criticisms of the Guyana-ExxonMobil agreement, Business Minister Dominic Gaskin on Tuesday railed against critics who see the deal as “chicken feed”, instead saying that it would yearly earn the country more than gold. Addressing the opening of a Private Sector Commission- organised seminar under the theme “Oil and Gas in Guyana: Perspectives in Guyana”, Gaskin ...

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500 Guyanese to be employed when construction of manganese plant begins in July

Guyana Manganese Incorporated (GMI) plans to employ more than 500 Guyanese in the construction of its manganese operations in Matthew’s Ridge, a senior company official. Steven Ma, Assistant General Manager of Bosai’s Overseas Department said construction is set to begin in July and  550 locals from the region and across Guyana would be employed during that phase as well as ...

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