Business

ExxonMobil Guyana’s President, Alistair Routledge on Wednesday almost totally ruled out any renegotiation of the Production Sharing Agreement (PSA) because it would adversely impact on the company’s planned US$55 billion investment in Guyana. “We have no interest to invoke that Article. As I say, we’ve made US$55 billion worth of commitment to the country. To go back and to undermine ...

President Irfaan Ali on Tuesday announced that an innovation fund would be established at St Stanislaus College on Brickdam, Georgetown, to benefit the students and that institution. He said the aim is for students to apply critical thinking to develop ideas in areas such as entrepreneurship, products, and new scientific models. The President said the intent is to assist the ...

The Ministry of Agriculture said the National Agriculture Research and Extension Institute (NAREI) is now better equipped with modernised equipment to conduct time-sensitive soil testing. On Monday, Agriculture Minister, Zulfikar Mustapha commissioned the soil laboratory which is located at NAREI’s Mon Repos office. The project was funded by the Inter-American Development Bank (IDB) to the tune of over $57 million. ...

The Cheddi Jagan International Airport (CJIA) on Monday said there was an 18 percent increase in aviation passenger traffic in and out of Guyana for the year, pushing the country closer to the one-million mark before year-end. “As of today, Guyana has successfully processed 801,000 passengers, encompassing both inbound and outbound travel. Notably, this year’s passenger traffic has witnessed an ...

A suspected bandit was Monday morning shot and killed by the pawnbroker at a jewellery store and pawnshop on Trinity and Main streets, New Amsterdam, shortly after a customer was robbed and shot on the business premises, police said. “The owner, a licensed firearm holder, on hearing the commotion, immediately returned fire, causing the two suspects to flee with the ...

Banks DIH Limited’s more than 1,000 unionised workers will now get a 25% salary increase plus a monthly cost of living allowance of GY$17,000, President of the General Workers’ Union (GWU), Norris Witter said Saturday. “Given the extenuating circumstances, it is a satisfactory deal,” he told Demerara Waves Online News. Mr Witter explained that the pay hike has been broken ...

One Communications, in partnership with the Ministry of Health and several non-governmental organisations, collectively referred to as Champions of Hope, officially launched Pinktober 2024 on Friday, continuing its mission to raise awareness and support for cancer fighters and survivors across Guyana, the company said. Speaking at the launch event themed ‘Many Hearts, One Fight,’ Ian Lewis, Director of Brand and ...

Guyana on Thursday ruled out the restriction or banning of Chinese businesses, in the wake of concerns that the increasing number of mainly supermarkets is outcompeting their nearby locally-owned counterparts with cheaper prices. “If the idea is to stop people based on nationality, it would be impossible to do it. What if China says ‘we’re not going to sell Guyana any ...

The Chief Executive Officer of Suriname’s state-0wned oil company, Staatsolie, has been boasting that his country has clinched a far superior production sharing agreement with TotalEnergies compared to Guyana’s with ExxonMobil and its co-venturers. He said while Guyana has 2 percent royalty and 50 percent profit split and no taxes, Suriname’s agreement provides for 6.25 percent royalty, profit split based ...

A Guyanese-owned oil exploration company is among 27 companies that submitted bids to market Guyana’s crude entitlement from the three floating production, storage and offloading (FPSO) vessels in the Stabroek Block. The National Procurement and Tender Administration Board (NPTAB) officials did not announce the prices that were proposed and, instead, referred queries to the Permanent Secretary of the Ministry of ...