Business

The Canadian oil exploration company, CGX Energy, and its fellow Canadian joint venture partner, Frontera, have decided to postpone exploration work in the Corentyne Block until next year. Frontera-CGX had set itself November 27, 2020 to drill the next well at Utakwaaka well on the Corentyne block which is adjacent to the Stabroek Block. However the joint venture partners  at ...

Attorney-at-Law James Bond was Friday morning released from police custody, his lawyer Patrice Henry said. Mr. Bond, according to his Attorney, was granted GYD$200,000 station bail. He waa asked to return to the Police Force’s Criminal Investigations Department headquarters on Monday. Mr. Henry expressed concern earlier Friday that the police detained Mr. Bond overnight without further questioning him all day ...

People’s National Congress Reform (PNCR) supporters, led by party chairman Volda Lawrence, Wednesday night held a candlelight vigil outside the Brickdam Police station in solidarity with their comrade, James Bond, who was arrested Tuesday as part of a probe into a number of land deals. “We are basically out here to give support to our comrade, our friend, our brother ...

The Australian gold mining company, Troy Resources, has withdrawn its production guidance for the Karouni mine site, the Market Herald reported Wednesday. The junior miner had initially forecast production of between 35,000 ounces and 40,000 ounces of gold at a cost of US$1500 and US$1550 per ounce (around A$2040 and A$2105 per ounce) for the 2021 financial year. (A local ...

Guyana and Suriname have agreed to jointly woo international investors to build a bridge across the Corentyne River to link the two  neighbouring South American countries and construct a US$1 billion offshore base to support their huge oil discoveries, Suriname’s President Chandrikapersad Santokhi said Tuesday. “We said that there will be a call from both nations on asking the international ...

Guyana and Suriname have agreed to start exploring ways of providing a ferry to ply the Corentyne River crossing, Suriname’s President Chandrikapersad Santokhi said Tuesday. “We agreed, as two leaders, as two Presidents that we’ll have a call to the public sector – Guyana, Suriname- but also to the private sector to look for solutions while that vessel will be ...

The receipt of planning approval and the signing of an MoU by the Ministry of Tourism, Industry and Commerce, the Guyana Office for Investment (Go-Invest) and Chairman and CEO of TOTALTEC Oilfield Services has greenlighted the construction of a US$90 million international hotel. Minister  Oneidge Walrond, Go-Invest CEO, Dr. Peter Ramsaroop and Mr. Lars Mangal of TOTALTEC signed the agreement ...

Chief Executive Officer of the Guyana Sugar Corporation (GUYSUCO), Sasenarine Singh on Monday said that state-owned entity would be initially focusing heavily on packaged sugar as the corporation prepares to get into other value-added sugar-related products and services. “The world market price for sugar is 15 (US) cents now so let’s be real. That’s the dump market we are talking ...

Environmental and Petroleum Engineer, Dr. Vincent Adams was Monday relieved of his duties as Executive Director of the Environmental Protection Agency (EPA). He says repeated efforts to contact Vice President Bharrat Jagdeo about often stated plans to hire him to work  in the petroleum sector have failed. He says none of his telephone calls was returned. Dr. Adams says he ...

The Guyana government’s holding company for State assets- National Industrial and Commercial Investments Limited (NICIL)- said a document that its former Chief Executive Officer Colvin Heath-London is using in his defence does not exist in its records and is alleging that it was forged. “In any event and most importantly, the content of that document and the decisions contained therein ...