Business

Hess Corporation (NYSE: HES) today announced an eighth oil discovery offshore Guyana at the Longtail-1 exploration well, creating the potential for additional resource development in the southeast area of the Stabroek Block. The well encountered approximately 256 feet (78 meters) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 18,057 feet (5,504 meters) depth in 6,365 feet (1,940 ...

(From Mining Journal) Alicanto Minerals will go it alone at the Arakaka gold project in Guyana after Barrick Gold withdrew from a joint venture. Barrick had spent US$7.1 million on exploration at the project, just shy of the $8 million it was required to spend to earn 65% under a March 2016 earn-in agreement. Alicanto will retain 100% of the ...

The Guyana government has scrapped plans to build a new three-lane bridge across the Demerara Bridge and has instead decided to ask for fresh proposals to construct a fixed four-lane crossing, Finance Minister Winston Jordan said Sunday. “The reason why I think the decision has been made to go back out is because we didn’t want to disqualify a whole ...

The Guyana Revenue Authority (GRA) on Sunday denied that it was responsible for  the delay in the opening of the US$40 million MovieTowne because equipment and seating were at wharves for weeks awaiting “simple signatures”. Commissioner-General of the GRA, Godfrey Statia, said while guided by the rules of confidentiality, the tax agency must set the record straight. “There were no ...

The managers of a mosque and at least 12 residents at Wakenaam Island want a river defence contractor to compensate them for damage and destruction caused by a flood due to poor quality works, officials said Sunday night. Chairman of the Neighbourhood Democratic Council at Wakenaam, Sheik Ahmad told Demerara Waves Online News that the Sea Defence Board, Region Three ...

As residents and businesses in a section of Wakenaam grapple with the impact of severe flooding due to what they said was poor river defence work by a contractor, Minister of Public Infrastructure David Patterson has ordered the contractor to fix the breach before the next high tide. “I have spoken to the contractor regarding fortifying the area before the ...

The revised but still controversial parking meter contract is back with Cabinet which has decided to refer the document to a sub-committee, amid ongoing concerns by several sections of Georgetown, Minister of Communities Ronald Bulkan said Saturday. He said Cabinet on Tuesday- June 12, 2018- decided that a Cabinet sub-committee made of the ministries of communities, finance, legal affairs public ...

The rehabilitation works on the Lethem, Upper Takutu-Upper Essequibo (Region Nine) road network have begun, government announced Saturday. The Department of Public Information said the project, which is being undertaken in two phases, will transform the township into an urban landscape and result in significant benefits to Lethem and Guyana as a whole. Hinterland Engineer, Jeffrey Walcott explained that the ...

Guyana’s Integrity Commission is among several other similar bodies in the Caribbean that have called on the 15-nation Caribbean Community (CARICOM) to put  graft and corruption on their agenda and craft Commissioner harmonised legislation to tackle the scourge. The decision to urge Caribbean leaders to put the thorny issue on their agenda was taken at the just concluded meeting of ...

NEW ORLEANS, June 15, 2018 — First Bauxite Corporation on Friday announced that it has received a second bridge loan to the amount of US$10 million  to be used for the Bonasika Bauxite project located in Guyana. The loan, which was provided by with Resource Capital Fund VI L.P, would be used for the construction, mining and processing facilities at ...