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Oil & Gas

“No, Trinidadian companies are not coming to take over”; Guyana can learn global oil industry standards from TT– Energy Chamber of Trinidad Tobago assures

The Energy Chamber of Trinidad and Tobago (ECTT) on Wednesday sought to dispel concerns that businesses from that twin-island Caribbean Community (CARICOM) member state are coming to Guyana to dominate the oil sector, instead saying that they are grasping business opportunities hinged on 100 years of experience and international safety standards. ECTT Chief Executive Officer, Dr Thackwray Driver rubbished claims ...

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France-headquartered company wins multimillion dollar seawater treatment contract in Guyana

Veolia Water Technologies, through its subsidiary VWS Westgarth Ltd, says it has been awarded a multi-million dollar contract by SBM Offshore for the supply of a seawater treatment package for the Liza Unity FPSO, located in the Stabroek block offshore Guyana. The award is for the design and procurement of equipment with construction technical assistance for a seawater treatment plant ...

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DDL powers up with natural gas; commissions Guyana’s first regasification terminal

Demerara Distillers Limited (DDL) says it is now using liquefied natural gas (LNG) to power its operations, having commissioned Guyana’s first LNG regasification terminal. The terminal is located at Plantation Diamond, East Bank Demerara. “We are very excited to be the first Guyanese company to use LNG for our power generation needs,” said DDL’s Chief Financial Officer, Vasudeo Singh. “As ...

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ACDA to ask Granger, other presidential candidates to suspend award of more oil concessions

The African Cultural and Development Association (ACDA) plans to write President David Granger, the opposition and all other political aspirants to lobby them for support to suspend the award of oil concessions until steps are taken to award Guyanese concessions. The call was again made on Saturday at an annual ceremony to commemorate the loss of millions of lives of ...

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Coalition to promise tax breaks in 5-year manifesto

Finance Minister, Winston Jordan says the governing coalition’s general election campaign will not be pegged on the immediate benefits of oil money next year, but will list a number of tax concessions leading up to 2025 as more oil revenues pour in. He says lower individual, corporate, value-added and other taxes will find their way into the manifesto of the ...

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PODCAST: NIS grapples with declining contributions, low investment returns

The General Manager of Guyana’s National Insurance Scheme (NIS), Holly Greaves says Guyana’s state-owned social security entity continues to suffer from declining contributions and low returns on its investments. Addressing the NIS’ 50th anniversary observance, she said a Debt Management Department has been registering some successes in raking in much needed cash from errant employers and self-employed persons. She notes ...

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NIS encouraged to invest on international stock market amid meagre returns, dwindled contributions

Despite raking in more than GYD$500 million from Guyana’s emerging oil and gas sector, the National Insurance Scheme (NIS) is being encouraged to invest some of its monies on the international stock market as it grapples with paying pensions amid declining contributions. Chairman of the NIS Board, John Seeram told a 50th anniversary observance at the Brickdam-based headquarters that the ...

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“APNU is not against cash grants” from oil revenues but more information needed -Granger; WPA ready to negotiate modified proposal

President David Granger on Wednesday sought to dispel concerns that he is opposed to direct cash transfer of some oil revenues to Guyanese, even as the Working People’s Alliance (WPA) signaled that it was ready to modify its proposal with other political parties in A Partnership for National Unity (APNU) whenever those talks begin. “There has been a lot of ...

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