Business

Despite repeated efforts by the opposition coalition of A Partnership for National Unity+Alliance For Change (APNU+AFC) for a specific date by which government would release the final investment plan and other documents about the gas-to-energy project to parliamentarians, Prime Minister Mark Phillips on Thursday would only say “in due course”. APNU+AFC parliamentarian Ganesh Mahipaul asked whether Mr Phillips would be ...

The report on how ExxonMobil spent  US$7.3 billion in Guyana is expected to be finished in March and would likely be tabled in the National Assembly, Minister of Natural Resources Vickram Bharrat told the National Assembly. Touching on the perceived delay in completing the audit, he said the agreement was for VHE Consulting to finish the audit in 120 “working ...

Qatar is expected to send two experts to Guyana to assist with the development of gas leak and gas monetization plans which are being crafted by ExxonMobil, Minister of Natural Resources Vickram Bharrat said. In response to A Partnership for National Unity+Alliance For Change (APNU+AFC) parliamentarian David Patterson, the minister told the National Assembly’s consideration of 2023 budget estimates of ...

The Guyana government intends to spend GY$43.3 billion on the construction of the gas to energy power plant, natural gas liquids plant and the transmission lines, Prime Minister Mark Phillips said Monday. During consideration of the estimates of the 2023 National Budget, Mr Phillips, in response to APNU+AFC parliamentarian Ganesh Mahipaul’s request for a breakdown, said GY$33.672 billion would be ...

The 2016 Production Sharing Agreement (PSA) between the Guyana government and the ExxonMobil subsidiary, Esso Exploration and Production Guyana Limited (EEPGL),  prevents government from asking for renegotiation of that accord without the company’s agreement, and although the company has the right to request renegotiation, it does not specify what should be the subject of those talks, according to two Guyanese ...

Guyana could acquire and certify two India-made planes for the Guyana Defence Force (GDF) without jeopardising this country’s safety rating by the International Civil Aviation Organisation (ICAO), according to the Director-General of the Guyana Civil Aviation Organisation (ICAO), Retired Colonel Egbert Field. “Rating would not be affected,” he said. With President Irfaan Ali already eyeing the purchase of two Dornier-modelled ...

Opposition Leader Aubrey Norton on Friday recommended a “raft of measures” to ease the impact of high cost of living, on the final day of debate on the 2023 National Budget, but Finance Minister Ashni Singh cautioned against rapid wage and salary increases. They included vouchers for those in public transportation so that they can access lower gasoline prices, waiver ...

President Irfaan Ali on Thursday urged Caribbean financial institutions to partner with the rest of the world in mobilising the US$10 billion that the Caribbean Development Bank (CDB) estimates is required to address the region needs. “We know that this cannot be done from the savings in the region and, therefore, the challenge will have to involve partnership with others ...

Ten years after A Partnership for National Unity (APNU) and the Alliance For Change (AFC) first refused to unconditionally support the construction of the 165 megawatt Amaila Falls Hydroelectricity Power (AFHP) plant, that coalition said foreign consultants had advised the then People’s Progressive Party Civic administration against that that project. Opposition Shadow Public Works and Energy Minister David Patterson told ...

Hess, the 30 percent joint venture partner in the Stabroek Block, on Wednesday announced that there has  been a “significant new oil discovery” at Fangtooth SE-1, one year after the original Fangtooth-1 discovery. The company said the Fangtooth SE-1 well encountered approximately 200 feet of oil bearing sandstone reservoirs, adding to the Stabroek Block’s gross discovered recoverable resource estimate of ...