Business

In clear reference to a newspaper report quoting former President Donald Ramotar as saying he would have renegotiated the ExxonMobil oil contract, President Irfaan Ali on Friday lashed back saying that such an approach would have dire consequences for investor confidence in Guyana. “How will you build confidence in the system when you have the sophisticated investor looking on from ...

Opposition Leader Aubrey Norton on Friday assailed government for punishing a public servant while the political policymakers refused to take blame for negotiating the reduction of US$214 million in audit costs to US$3 million with Esso Exploration and Production Guyana Limited (EEPGL), the local subsidiary of ExxonMobil. Mr Norton disagreed with Minister of Natural Resources, Vickram Bharrat’s announcement that Senior ...

Amid concerns about the National Procurement and Tender Administration Board’s (NPTAB) award of a GY$865.5 million contract to build a pump station, former President Donald Ramotar on Thursday recommended that government establish its own construction arm to force contractors to bid with realistic rather than inflated prices. “I believe that government should develop some capacity; some of its own capacity ...

The Ministry of Natural Resources’ Senior Petroleum Coordinator, Gopnauth “Bobby” Gossai is to be disciplined for negotiating the reduction US$214 million in expenses with ExxonMobil-controlled Esso Exploration and Production  Guyana Limited (EEPGL) down to US$3 million, Minister of Natural Resources Vickram Bharrat said late Thursday night. “Therefore, after examining all the facts it is clear that Mr. Gossai acted without ...

A day after the National Procurement and Tender Administration Board (NPTAB) failed to say what experience the one-year-old Tepui Group Inc. has in construction that resulted in the award of an GY$865.5 million contract to build a pump station, a crane operator died in an incident at a shore-base that is under construction at Providence, East Bank Demerara. The Guyana ...

Cabinet on Thursday discussed a report on an investigation into how officials if Ministry of Natural Resources had negotiated the reduction US$214 million in expenses with ExxonMobil down to US$3 million, Vice President Bharat Jagdeo said. “We’re taking it serious,” he said. He said the outcome of Cabinet’s consideration of the report that was presented by Minister of Natural Resources, ...

More than one year after China Railway First Group backed out of plans to build the Amaila Falls Hydroelectricity Plant (AFHP), government on Thursday announced that would in another two weeks issue a public request for proposals due to increased international interest in the project. “Now, I think there is a large number of people approaching us and the best ...

The National Procurement and Tender Administration Board (NPTAB) on Wednesday defended its decision to award a GY$865,543,500 contract to construct a pump station at Belle Vue, West Bank Demerara, in the wake of a formal request by Alliance For Change (AFC) executive member and opposition parliamentarian David Patterson for Guyana’s Public Procurement Commission (PPC) to conduct a probe. NPTAB, in ...

The State-owned Guyana Sugar Corporation (GUYSUCO) says it owns the lands at Cane View, Mocha, East Bank Demerara from which more than 30 households were evicted earlier this year and never gave the Central Housing and Planning Authority (CH&PA) any authority there. GUYSUCO’s Company Secretary/Legal Officer, Khawn Rodney states in an affidavit that the corporation admits that it is the ...

Alliance For Change (AFC) executive member and opposition parliamentarian David Patterson on Tuesday asked the Public Procurement Commission (PPC) to investigate whether the award of a GY$865,543,500 contract to construct a pump station at Belle Vue, West Bank Demerara was above board. “I write seeking an investigation into the award of this contract on the basis that the Contractor was ...