Business

ExxonMobil on Tuesday assured that there would no skulduggery to inflate expenses or steal Guyana’s oil and at the same time appeared reluctant to renegotiate its controversial Production Sharing Agreement with Guyana although larger quantities of oil are being found in the Stabroek Block. In response to a question at Private Sector Commission-organised seminar on Guyana’s oil and gas sector, ...

In the face of persistent criticisms of the Guyana-ExxonMobil agreement, Business Minister Dominic Gaskin on Tuesday railed against critics who see the deal as “chicken feed”, instead saying that it would yearly earn the country more than gold. Addressing the opening of a Private Sector Commission- organised seminar under the theme “Oil and Gas in Guyana: Perspectives in Guyana”, Gaskin ...

Guyana Manganese Incorporated (GMI) plans to employ more than 500 Guyanese in the construction of its manganese operations in Matthew’s Ridge, a senior company official. Steven Ma, Assistant General Manager of Bosai’s Overseas Department said construction is set to begin in July and  550 locals from the region and across Guyana would be employed during that phase as well as ...

An GY$18 million innovative fund established by the Guyana Telephone and Telegraph (GTT) will be pumped into the Science Technology Engineering and Mathematics (STEM) programme locally and the University of Guyana (UG). The announcement was made earlier Monday by the telephone giant during a press conference to promote its upcoming Innov8 Expo and Business forum to be held later this ...

The Guyana Revenue Authority (GRA) on Monday won an appeal before the Caribbean Court of Justice (CCJ) against Guyana Stores Limited (GSL) on whether a two percent minimum corporation tax was unconstitutional and amounted to the taking away of private property. “This decision is a victory for the Revenue Authority as many taxpayers attempt to avoid the specialized procedure under ...

The Guyana government has decided to refuse permission to more international airlines that merely have one or two aircraft because passengers continue to be frustrated by long delays and cancellations, Minister of State Joseph Harmon announced. “All I would ask of you is don’t bring no one-plane airline or no two-plane airline so that you take all the people money ...

The Guyana government appears to have finalised a deal with the privately-owned Demerara Distillers Limited (DDL) for the restart of the Enmore sugar estate to produce molasses for that company, a high-level government official said Sunday. The Head of the Special Purpose Unit (SPU) of the National Industrial and Commercial Investments Limited (NICIL), Colvin Heath-London said almost 200 workers have ...

Guyana plans to ask Japan to fund a set of  economic studies on how best the country’s hydrocarbon resources should be utilised, after reviewing an “Oil and Gas Master Plan” that has been developed by two major Japanese companies. “We will probably, within the next fortnight respond to them saying that we have looked at the report and now that ...

Two suspected bandits were shot dead and two others were arrested Friday morning shortly after they held three male labourers at gunpoint  and stole several items. The Guyana Police Force said the robbery occurred at a ranch house at Potocco Creek, Berbice River. Dead are 37-year old Indarjit ‘Danny’ Sham of Betsy Ground Village ,East Canje and 21-year old Amar ...

ExxonMobil on Friday said a thick black substance that has showed up in seawater and on the Kingston, Georgetown operations has absolutely nothing to do with its oil exploration operations 200 miles offshore Guyana. ‘We can confirm there was no operational upset related to ExxonMobil’s operations offshore Guyana. The substance found in the Kingston seashore, Georgetown area is not a ...