Business

The United Kingdom’s (UK)  leading think-tank  is helping Guyana decide whether it will be feasible to build an oil refinery here and, if so, what is the best model, Minister of Natural Resources, Raphael Trotman announced Friday. He said the New Producers Group of Chatham House- the Royal Institute of International Affairs- is expected to tell government by year-end whether ...

The Managing Director of Bai Shan Lin, Chu Hung Bo, is a principal in a new company that hopes to operate a quarry at the Amerindian village of Batavia in Region Seven but government does not appear to be in a hurry to give the green light. Minister of Natural Resources, Raphael Trotman said his ministry and the Guyana Geology ...

Fifteen foreign advisers are to be hired to help strengthen the Guyana Power and Light’s (GPL) management and reduce losses currently pegged at GPL’s Chairman of the Board of Directors, Robert Badal said that the US$7.4 million component of the Public Utility Upgrade Programme would be used to hire seven engineers and other training experts from Manitoba Hydro International with global experience. ...

Less than one week after the Guyana Oil and Gas Association (GOGA) was formally launched, the future of it President and Chief Executive Officer, Bobby Gossai Jr. hangs in the balance after reports surfaced that he was named in a recent government-sponsored forensic audit. GOGA said in a statement that it was unaware of the “specific contents” of the Audit ...

Baffled at two recent fires at Gafoor’s Industries’ Houston, East Bank Demerara that resulted in almost US$20 million dollars in losses, management has already decided its next move if there is third blaze. Managing Director, Sattaur Gafoor declined to divulge the decision. He said one of the major concerns in the aftermath of the second fire is whether the insurance ...

The Guyana Oil and Gas Association (GOGA), which was launched Tuesday night, has its eyes set on ensuring transparency and accountability of transactions and adequate provision for Guyanese to be directly or indirectly employed. “GOGA will support all efforts which will lead to the fullest possible disclosure of all information on all transactions related to the exploitation of this national ...

Hague Back, Guyana – (October 11, 2016) The Guyana Foundation recently announced that the pilot phase of its Sunrise Center on the Essequibo Coast was successfully completed. This announcement was made last week at the Westin Hotel, Grand Cayman, during a presentation by the Foundation’s Founder, Mrs. Supriya Singh-Bodden, C.C.H., and its Managing Director, Mr. Anthony Autar. In attendance were ...

The Guyana Manufacturing and Services Association (GMSA) on Monday announced that the suspension of taxes and duties on several inputs now that the Caribbean Community (Caricom) but it would be pushing for the permanent removal of those items from the Common External Tariff (CET) list. “The Guyana Manufacturing & Services Association GMSA, was pleased to be informed by its membership that with ...

Although ExxonMobil says that oil production offshore Guyana is expected to directly employ less than 200 persons, United States (US) Ambassador, Perry Holloway says job creation will depend heavily on how this poor Western Hemisphere country spends its oil revenues. “The real significant job creation will come about from the revenue generated from the oil find. The government, in consultation ...

Reeling from decades-old international concerns about little transparency and accountability, Guyana hopes that its eventual joining of the global watchdog- Extractive Industries Transparency Initiative (EITI)- will help attract more investors in the natural resources sector. “EITI will bring many benefits to Guyana: an improved investment climate, a signal to international investors that the government has a clear commitment to transparency ...