Business

Vice President Bharrat Jagdeo on Wednesday said government has approved the development of the Uaru reservoir located in Guyana’s deep-water, hours after Hess Corporation said it was expecting the project to get the green light this week. “It was done after vigorous analysis by external consultants,” he said on the sidelines of the presentation of the Report of the Commission ...

Hess Corporation, a partner in the Stabroek Block offshore Guyana, on Wednesday announced the discovery of more oil in that concession. “The Corporation today announced an oil discovery at the Lancetfish-1 well on the Stabroek Block, offshore Guyana,” Hess said. The operator, ExxonMobil, was yet to announce the fresh discovery  which is approximately 4 miles southeast of the Fangtooth discovery. ...

Top financial intelligence officials of Trinidad and Tobago, and the British Virgin Islands (BVI) are in Guyana on a fact-finding mission as part of steps to support this country’s application to join a global financial intelligence-sharing network, Attorney General Anil Nandlall said Tuesday night. While Mr Nandlall was confident that Guyana would be admitted to the Egmont Group in 2024, ...

The Caribbean Community’s (CARICOM) decades-old sea transportation humbug reducing the region’s more than US$5 billion food import bill would gradually be resolved possibly with India’s assistance, and already the new India-made North West District ferry is expected to ship agricultural produce from northwestern Guyana to Trinidad, President Irfaan Ali announced on Sunday. “We are going to look at CARICOM to ...

India’s Foreign Minister  Dr. Subrahmanyam Jaishankar on Saturday said he and his counterparts of the 15-nation Caribbean Community (CARICOM) agreed that there would be annual business summit aimed at boosting trade in goods and services. “We agreed that it would be our endeavour every year to hold an India-CARICOM business summit- one year in the Caribbean, one year in India- ...

Former Guyanese international cricketer Ramnaresh Sarwan is President of the India-Guyana Chamber of Commerce whose formation was announced at a business roundtable where India’s Foreign Minister Dr. Subrahmanyam Jaishankar was the featured speaker. No representative of the new business organisation spoke at the event that was held at the Guyana Pegasus, but the chairman of the proceedings said the chamber ...

Several wharves are being rebuilt to accommodate the newly-built North West District (NWD) ferry, MV Ma Lisha, which is expected to reduce the cost of goods to communities and ship agricultural produce to markets on the coast, authorities said Friday. Public Works Minister Juan Edghill said in preparation for that vessel, more than GY$2 billion worth of contracts have been ...

India and Guyana are preparing to hold commercial negotiations that could that Asian giant securing a long-term contract to buy crude oil from this South American nation, the top Indian envoy here said ahead of its Foreign Minister Dr. Subrahmanyam Jaishankar’s  visit to Guyana from April 20-23. “We are an energy hungry nation so we need to work with Guyana because ...

President Irfaan Ali  on Tuesday announced that he is due to visit Brazil in late May to hold talks with that South American giant’s President, Luis Inacio ‘Lula’ Da Silva. “There, we will be discussing a very strong and robust plan for the integration of this region. As you are aware, there are some massive transformative projects that are on ...

President Irfaan Ali on Tuesday rejected claims by the People’s National Congress Reform-led A Partnership for National Unity (APNU) that the governing People’s Progressive Party (PPP) paid Afro-Guyanese to become candidates and appear as supporters for the June 12, 2023 Local Government Elections. Reacting to claims by PNCR Leader Aubrey Norton and other persons that Blacks were being literally bought ...