Business

Guyana’s preparations for the start of commercial oil production and lifting is moving apace and these include having a third party aboard the floating production, storage and offloading (FPSO) vessel overseeing the movement of oil, Head of the Ministry of the Presidency’s Department of Energy, Dr. Mark Bynoe said Wednesday. “It is the government’s desire to be pursuing a third-party ...

Leader of Change Guyana (CG), Robert Badal on Tuesday bluntly denied entering Guyana’s electoral race because he did not get 50 percent of concessions that he was “entitled to” from the government for the construction of the Pegasus Suites and Corporate Centre. “The plain answer is no… The answer is no. Let’s move on,” he said as he became impatient ...

Workers at the Demerara Harbour Bridge were Tuesday night working feverishly to remove several utility poles that fell from a truck, restricting two-way traffic to a single lane, General Manager of the bridge, Rolston Adams said. He said efforts were underway to move equipment to the location where the poles fell so that they could be removed. Adams said traffic ...

The recently established Unicon Guyana Inc. (UGI), which includes a well-established Ghanaian company, has promised that the workers it will hire, train and place aboard oil rigs will receive equal pay with their foreign counterparts, but trade unions must come to grips with the reality of working conditions aboard drillships. “Specifically, I want to say that once I’m Chairman, UGI ...

Amazonia Expert Services Limited (AES), a newly-formed company, has secured a lease of 700 acres of land at the closed Wales Sugar Estate, West Bank Demerara, to get into the coconut industry The major shareholders of AES, which is made up of entrepreneurs, academics and professionals, are former Executive Director of the Caribbean Agricultural Research and Development Institute (CARDI), Dr. ...

Region 8 (Potaro-Siparuni) now has its own lapidary to produce attractive value-added gems giving residents of Monkey Mountain and its environs another opportunity to earn much-needed cash. The GYD$16 million facility, which was funded by the Government of Guyana and constructed by the residents, includes a 30 feet by 20 feet concrete building, the purchasing of modern technical lapidary equipment ...

The start of commercial oil production offshore Guyana in December depends on weather conditions, the ExxonMobil’s Vice President and Secretary, Neil Hansen said on Friday. “The target for achieving first oil is December, dependent on favourable weather conditions,” he told a webcast on ExxonMobil’s third-quarter 2019 financial and operating results. “This will place start-up within five years of initial discovery, ...

Hess Corporation, one of the partners in the ExxonMobil-controlled oil operations offshore Guyana, says commercial oil production will begin in December 2019. “In September, we announced our 14th discovery in the Stabroek Block at Tripletail, offshore Guyana and are now targeting December for first oil from the Liza-1 development,” Chief Executive Officer of Hess Corporation, John Hess was quoted as ...

The newly-formed Change Guyana (CG) political party on Tuesday vowed to renegotiate all existing contracts with oil companies to get higher royalties and suspend the award of new concessions pending those talks. Addressing CG’s launch at the Pegasus Hotel, prime ministerial candidate, Nigel Hinds made known his party’s position on the issue at a time when there is lingering debate ...

Eight persons, including a medical doctor, were Tuesday charged with the gunning down of well-known gold miner, Deon Stoll. They were not required to plea to the indictable offence, and were refused bail and remanded to prison. Chief Magistrate Ann McLennan ordered them to return to court on November 15. Four of the men – Shane “Demon” Morgan also known ...