Business

The construction of a 20 kilowatt hydro-power station at Hosororo, North West District (NWD) is scheduled to begin next month and, when completed,  will produce electricity at 21 United States cents per kilowatt hour (kWh), 29 cents less than diesel-generated power, the Guyana Energy Agency (GEA) said Saturday. Construction is expected to finish by April, 2019. Chief Executive Officer of ...

ExxonMobil’s Guyana Country Manager, Rod Henson on Friday declared that his company was not funding local political parties, and he was asked to withdraw description of a line of questioning by an opposition representative as “hogwash”. Appearing before a bi-partisan parliamentary committee on Natural Resources, Henson was asked by opposition member Pauline Sukhai whether the United States (US) oil giant ...

A man from Warrensburg, New York is accused of setting fire to his vehicle, then reporting it stolen to police and his insurance company, media reports say. Terrance Blenman,39, left the country last December after filing those reports. He was arrested this week at JFK Airport in New York City when he returned from Guyana. The Saratoga County Sheriff’s Department ...

Hefty salary increases and other benefits that have been recommended by a High-Level Task Force that examined demands by the Guyana Teachers Union (GTU) have triggered renewed warnings against unrealistic expectations from an oil economy, Finance Ministry sources said. The draft report, which has been already dispatched to President David Granger and is expected to be considered by the Cabinet, ...

The United States-headquartered environmental organisation, Conservation International (CI), on Friday assured that although it took a US$10 million grant from ExxonMobil Foundation for capacity building in oil-rich Guyana, its independence was still intact. “As a science-based organization in a unique position to help Guyana achieve its green development goals, Conservation International determined that this effort will achieve its goals while ...

Guyana’s parliamentary committee on natural resources committee on Friday heard accusations conflict of interest being levelled against Conservation International because it  has taken funds from ExxonMobil, a charge that was flatly rejected by the oil company. Committee Chairman, Odinga Lumumba said he was very disturbed that the United States (US)-based environmental watchdog was engaged in a conflict of interest deal ...

ExxonMobil is yet to decide on whether it would construct and manage a gas pipeline to bring natural gas ashore for Guyana Power and Light to generate electricity at a lower cost, even as the company reiterated that it is better to re-inject all of the gas to extract more oil. Country Manager for ExxonMobil, Rod Henson said there were ...

The Special Purpose Unit (SPU) of the National Industrial and Commercial Investments Limited (NICIL) on Thursday lashed out at Bharrat Jagdeo, saying that as a former President and former Finance Minister he should know that the GY$30 billion bond for the sugar industry at 4.75 percent interest rate was a good deal. The SPU further dismissed Jagdeo’s criticisms that the ...

Norway’s outstanding US$80 million payments to Guyana for the preservation of standing forests will be used to fund the purchase of solar farms to supply 100 megawatts to the national grid, State Minister Joseph Harmon said Thursday. He said the decision was reached in talks himself, Minister of Public Infrastructure David Patterson, Minister of  aural Resources Raphael Trotman and Laura ...

Rising flood waters in Lethem have forced the evacuation of 25 persons and the closure of several schools, a number of which were being used as shelters, authorities said Thursday. The flood is caused by heavy rainfall and overflowing Ireng and Takatu Rivers. Director-General of Guyana’s Civil Defence Commission, Col. Kester Craig told Demerara Waves Online News that the evacuees are in ...