Business

One of two bandits was arrested and the bandit’s handgun’s magazine along with cash belonging to the owner of a Chinese Restaurant recovered, police said. The Guyana Police Force credited the restaurateurs with “courage and bravery” in putting up a fight that led to the arrest of one of the suspected perpetrators. Investigators said the suspect is 23 years old ...

The President and Chief Executive Officer of the Guyana Oil and Gas Association (GOGA, Bobby Gossai Jr. On Friday vehemently denied that he ever forged anyone’s signature while he was Secretary to the Board of Directors of the Guyana Gold Board. “At no given time did the Secretary used, reused (“lifted”), misrepresented or disguised the signature of the former chairperson ...

ExxonMobil ‘s  fine of US$76 billion by a court in the northern central African nation of Chad earlier this month is not expected to affect plans by the American oil giant to begin commercial production in Guyana by 2020. Minister of Natural Resources said it is clear that the company would have to earn money to pay the fine for ...

The Guyana government says it is securing foreign assistance to close in on gold smugglers, even as it chases a target of 600,000 ounces for this year. Minister of Natural Resources, Raphael Trotman said the international law enforcement expert would be coming to Guyana “to both advise and to help us with some interdictions.” “I don’t think that there are ...

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 ...