Business

Guyanese will from Monday, January 2 have to pay more for gasoline, kerosene and other products being sold by the Guyana Oil Company (GuyOil) due to a rise in world oil prices. “These increases are directly related to increase in acquisition cost from source and are consistent with trends in the upward movement of world market price for petroleum products,” ...

Proposals to sell off a number of estates of the bankrupt state-owned Guyana Sugar Corporation and shed non-core operations like drainage and health services were Saturday shared with the unions and the opposition People’s Progressive Party Civic (PPPC). The talks come against the background of claims and counter-claims for the poor state of the industry. They include the 36 percent ...

Opposition Leader, Bharrat Jagdeo’s office on Thursday accused government of shifting the goal-post from financial to technical reasons for opposing the Amaila Falls Hydro Power (AFHP) project, while at the same time signalling that the People’s Progressive Party (PPP) was willing to hold talks about recommendations to revive the more than US$800 million project. “The PPP wishes to see AFHP re-start ...

Norwegian experts have confirmed that the proposed 165 megawatt Amaila Falls Hydropower station is the best option for Guyana to wean itself off of fossil fuel generation and has recommended that government quickly makes a decision and, together with the opposition, reach consensus before renewing a search for international investors. “In order to establish broad interest among well experienced and ...

Guyana will soon be able to fully monitor its airspace, according to the Civil Aviation Authority’s Air Navigational Services Director, Rickford Samaroo, who said the 2017 allocation of $350M will aid in the installation of four other navigational stations. Those stations, according to Samaroo, are to be located at Port Kaituma, Kamarang, Kaieteur, and Annai. Already, the Timehri surveillance system, ...

Guyana’s Civil Aviation Authority will be reviewing the operations of Dynamic Airways in Guyana in order to find an effective way forward, according to CAA’s  Director- General, Egbert Field. He said the aviation body is awaiting a report from Dynamic Airways on the Georgetown and New York weekend delays affecting some 400 passengers. “To give definitive answer as to what ...

Investigations are still ongoing in the recent accident at the Cheddi Jagan International Airport where an incoming Caribbean Airlines plane clipped the tail of a parked Fly Jamaica plane, according to head of the Civil Aviation Authority, Lt. Col. (Ret’d) Egbert Field. “The investigation is still ongoing and the Accident Investigation Group is actively proceeding with that investigation,” Field told ...

Despite lingering opposition to the introduction of parking meters in Georgetown, the company – Smart City Solutions (SMS)- on Wednesday said it was prepared for vandals because the high-tech meters will trigger alarms remotely on impact. Amir Oren Managing Director of Business Development (Global Operations) sought to dispel concerns about vandalism because none of the meters would contain cash. “It ...

The Ministry of Public Health will this year construct a new bond to store medical supplies, even as it has allocated GYD$150 million to next year continue renting the controversial bond at Sussex Street, Albouystown from a businessman. During consideration of the 2017 Budget estimates of expenditure, Public Health Minister George Norton announced that GYD$250 million have been set aside ...

ExxonMobil subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) on Tuesday announced that it has awarded contracts to SBM Offshore for a floating production, storage and offloading (FPSO) vessel, a key step in moving the Liza field toward first production. Under the contracts, SBM Offshore will perform front end engineering and design for the FPSO, and, subject to a final investment ...