Business

Hosting of the inaugural Guyana International Petroleum Business Summit and Exhibition (GIPEX 2018), which ended Friday, cost a minimum US$500,000 to host but officials hailed the three-day event as a wider success for the tourism and hospitality industry. “The one that has been mentioned the least is what this event has done for the tourism industry and the services sector in Guyana,” Chief Executive ...

Locally-owned and controlled businesses need to find new ways of operating in order to be prepared to grasp opportunities in the burgeoning oil sector, top officials of Canada and Guyana said as the inaugural Guyana International Petroleum Business Summit & Exhibition (GIPEX 2018) came to a close. Canada’s High Commissioner to Guyana, Lilian Chaterjee and the Chief Executive Officer of the Guyana ...

Guyana needs to ensure that there are very few or no politically-appointed decision-makers in the oil and gas sector to prevent the industry from deepening racial and political differences and creating uncertainty in decision-making, Petroleum Advisor to the President, Jan Mangal has said. Director of the Guyana Oil and Gas Association (GOGA), Attorney-at-Law, Nigel Hughes also expressed similar views during ...

A key suspect in the attempted shipment of a nine kilogrammes of cocaine in frozen fish to New York is expected to be released on Thursday, at least for the time being, as Customs Anti-Narcotics Unit (CANU) agents search for more persons, sources said. Demerara Waves Online News was told that the shipper, Amair Ally, would be released at the ...

About five hours after Dr. Jan Mangal, Petroleum Advisor to President David Granger delivered a number of hard-hitting criticisms of the controversial ExxonMobil contract, government sought to dissociate itself from his positions. “The Ministry of the Presidency puts on record that Dr. Jan Mangal, Presidential Advisor on Petroleum, is not authorised to speak on behalf of His Excellency, President David ...

Guyana’s two percent royalty on earnings from ExxonMobil’s oil sales is low compared to global standards, raising concerns about whether there was transparency about the negotiating system,  Dr. Jan Mangal, Petroleum Advisor to President David Granger said Wednesday. “What we can do is look at what are the international norms. Royalty, when you look around, is more between ten and ...

Police have taken into custody a man who was allegedly involved in an early Wednesday morning robbery at Angoy’s Avenue, New Amsterdam, Berbice. Grocer, Kamalodeen “Tarzan” Mohabir of Angoy’s Avenue said he was at home with his: wife, son and two grandchildren ages 6 and 14,  when they were attacked at about 2 AM by armed and masked bandits. The ...

Agents of the Customs Anti-Narcotics Unit (CANU) Tuesday evening arrested seven persons after a quantity of cocaine concealed in a shipment of fish was intercepted at the Cheddi Jagan International Airport. CANU said the frozen fish was bound for the United States (US). The anti-drug unit of the Ministry of Public Security said the shipping company currently being investigated allegedly is ...

The Guyana Gold and Diamond Miners Association (GGDMA) on Tuesday called on the Guyana Geology and Mines Commission to fast-track the change-over of lands from prospecting licence to medium scale mining permits and to cease attaching any conditions for the process. “The GGDMA categorically rejects the ongoing, inordinate delays in processing of the requested applications. We reiterate that the GGMC has ...

A Region Four (Demerara-Mahaica) Engineer has been chopped by a contractor during an altercation over the non-payment for works, the Guyana Police Force said. Injured is 67-year old Amainauth Chinkan of Side Line Dam, Triumph, East Coast Demerara. The incident occurred last week at about 10 PM Friday, February 3, 2018, at Enterprise Village, East Coast Demerara. Police said they ...