Business

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 ...

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 ...

The Traffic Chief of the Guyana Police Force, Linden Isles says he has recommended that all minibus parks be removed to the Railway Embankment in the vicinity of Lamaha Street east of Camp Street. Mr. Isles says that recommendation is contained in a paper that was dispatched to the Ministry of the Presidency. If the Traffic Chief’s idea is accepted, ...

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 ...

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, ...

The Guyana government will shortly begin remapping the country for the first time in 50 years to give prospective and current land users a better idea of location, resources and features, officials said. Commissioner of the Guyana Lands and Survey Commission (GLSC), Trevor Benn says an US$18 million project was approved by the National Procurement and Tender Administration. Mr. Benn ...

Four employees of the Guyana Lands and Survey Commission (GLSC) were dismissed this year for corrupt practices, a senior official of that semi-autonomous state agency said Monday. GLSC Human Resources Manager, Shonda James-Williams says the employees were fired because they had privately collected monies and promised to issue lands to potential clients of the commission. “We had about three employees ...

The United States (US) will have to ensure that the opposition People’s Progressive Party (PPP) sticks to its promises to keep a lid on corruption, with the likelihood of that party winning next year’s general elections, a senior advisor at the US State Department asserts in a recent assessment of the political and security situation. “At the same time, given ...

(Kenya Broadcasting Corporation) Ambassador Georges Rebelo Pinto Chikoti, from Angola, is named the new Secretary General Designate of the Africa, Caribbean and Pacific (ACP) Group of States. Ambassador Pinto — who was picked from among three candidates: an Angolan, a Zimbabwean and a Mozambican — is succeeding Mr. Patrick I. Gomes, a former deputy from Guyana. Ambassador Pinto will be ...

The Guyana Telephone and Telegraph Company (GTT) on Friday offered a GYD$5 million reward for information leading to the arrest of anyone involved in the vandalisation of its fibre optic cables on the Linden Highway recently. The illegal act resulted in widespread service disruptions, the company said. On November 30, GTT said it received numerous reports of loss of services ...