Business

The French oil company, Total, has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block. These agreements come after entering into an option agreement for the nearby Orinduik Block. Subject to the approval of relevant authorities, Total will thus own exploration rights to an area covering over 12 000 km2 in the ...

Guyana Goldfields/ Aurora Gold Mines (AGM) intends to invest US$120 million in conducting underground gold mining for the first time in Guyana’s history, company officials announced Sunday. AGM’s President and Chief Executive Officer, Scott Caldwell said “we want to become the premier underground gold miner in Guyana and South America” in another four years. In addition to four studies, valued ...

A newly-established Guyana-headquartered offshore medical school, Lincoln American University, says it is about to apply for Caribbean accreditation even as it rolls out a plan to establish similar institutions across the region. Advisor to Lincoln American University, Dr. Emmanuel Cummings said already the institution located at Water and Barrack Streets has been registered with Guyana’s National Accreditation Council (NAC), paving ...

The wealthy German industrial conglomerate Siemens is pushing for a stake in  modernising  Guyana’s public health sector, the Ministry of Public Health announced Friday. The three-person delegation, which met recently with Public Health Minister Volda Lawrence and a high-level team with the former rolling out its tentative plans which they felt can help accelerate modernisation plans for the country’s public ...

The Guyana Power and Light Inc. (GPL) on Friday announced the appointment of Mr. Albert Gordon effective February 1, 2018 as the company’s new Chief Executive Officer (CEO). Mr Gordon is a Jamaican national but stands truly as a son of the Caribbean. The appointment of Mr. Gordon forms part of GPL’s plans to modernize, expand and improve electricity supply ...

In what appears to be an all-out battle, Local Government Minister Ronald Bulkan is demanding that City Mayor Patricia Chase-Green tell him what the Council intends to do at playgrounds in two upscale areas of Georgetown. “Please be informed that I require a response from you regarding what applicable action(s) the Council contemplates or intends to perform on the Bel ...

Local Government Minister, Ronald Bulkan on Monday rejected accusations by Georgetown Mayor, Patricia Chase-Green that he was meddling in Council’s affairs and instructing Council, through her, to adopt a new decision-making procedure in violation of the municipal laws. “We can’t be fossilised with any legislation. We are in a new era now. We are in a new democratic environment and ...

Guyana has been short-changed in the amount of the important royalty on oil sales and the controversial US$18 million signing bonus from ExxonMobil but overall the 2016 Production Sharing Agreement (PSA) is quite a routine deal taking into consideration the risk factors, says a United States (US) energy industry analyst. “The thing to focus is the royalty rate is low. ...

Banks DIH Saturday night said it was among major food and beverage companies taking steps to reduce the risks its products might pose to diabetes or risk facing a “sugar tax”, according to Chairman of the company, Clifford Reis. He told shareholders at Thirst Park that Banks DIH would continue working with all international companies with which it has partnerships ...

The Guyana government has decided to keep the Enmore sugar estate as a going concern while the search continues for long-term investors, a senior official of the divestment corporation announced Friday. Shawn Persaud of the Special Purpose Unit (SPU) of the National Industrial and Commercial Investments Limited ( NICIL) told hundreds of workers at Enmore Estate that “hopefully” the Enmore, ...