Business

As the Guyana government prepares to establish a Law Reform Commission, it has already hired support staff members and paying a rent totalling GY$2.6 million monthly, Attorney General and Minister of Legal Affairs Basil William said Monday. “The Law Reform Commission is in the final stages of readiness. Persons have been interviewed for the position of Commissioners. Some staff for ...

Opposition People’s Progressive Party (PPP) parliamentarian, Juan Edghill on Monday appeared far from perturbed about Finance Minister, Winston Jordan’s GY$200 million lawsuit for “malicious prosecution”, saying the case never reached the courts for a determination. “If I will lose the case? There is no case! If what you’ve reported that the Minister is suing me for malicious prosecution; the minister ...

One hundred retrenched sugar workers and young people from Berbice are the inaugural batch of the Industry Skills Training Enhancement Programme (IN-STEP). Minister of Natural Resources, Raphael Trotman, officially launched the IN-STEP programme at the GuySuCo (Guyana Sugar Cooperation) Training Centre, Port Mourant, today. “We know that many of you are afraid many of you are worried. We are here ...

Guyana has been receiving seismic data and verifying the amount of oil being discovered and the wells that are not commercially viable, the Commissioner of the Guyana Geology and Mines Commissioner, Newell Dennison said. “We are sufficiently competent to see if what they are saying in terms of what has been represented makes sense so there are formulas, for example, ...

Finance Minister, Winston Jordan says he is wary of losing revenue, including much needed foreign exchange, if government gives into calls for fuel prices to lowered. Government’s Department of Public Information (DPI) quoted Jordan as saying that government is considering “creative solutions” to avoid adverse impacts on Guyana’s balance of payments. Among his concerns are the impact that lowering the ...

Guyana’s Private Sector Commission (PSC) on Thursday said it was engaging government on its Green State Development Strategy (GSDS), but at the same time poured cold water on government preference for solar energy and small hydro stations because they would be unable to  supply cheap energy for manufacturing. The umbrella business organisation stressed that large-scale hydro power plants were key ...

Eco (Atlantic) Oil & Gas Limited (LON:ECO, TSX-V:EOG) has noted Exxon Mobil Corp’s (NYSE:XOM) eighth discovery offshore Guyana as it provided an update on its own operations in the region. The AIM-listed oil and gas producer said Exxon’s Longtail-1 well, located at the Stabroek Block which is adjacent to Eco’s own Orinduik Block, had encountered around 78 meters of high-quality oil-bearing sandstone ...

Experts from the Pan American Health Organisation (PAHO) have begun inspecting the headquarters of the Guyana Geology and Mines Commission and Guyana Gold Board for traces of mercury that have sickened several employees in recent months. GGMC Commissioner, Newell Dennisson confirmed that the inspectors began work on Wednesday and continued on Thursday. “Their work started upon their arrival yesterday (Wednesday) ...

Well-known political activist and commentator, Ramon Gaskin has called in the Guyana Police Force to probe the whereabouts of the interest earned on the US$18 million ExxonMobil signing bonus. Gaskin said he wrote Police Commissioner David Ramnarine on June 11, 2018 requesting a probe because he calculated that Guyana should have earned US$270,000 interest per annum on the signing bonus. ...

Managing Director of Guyana Water Incorporated (GWI), Dr. Richard Van West-Charles says the  new fixed charge that consumers will have to pay will be spent improving the company’s aged distribution network system. This follows an announcement by the Public Utilities Commission (PUC) that it has approved increases in rates and tariffs for GWI. Dr. Van West-Charles explained that since 2013, ...