Business

Vice President Bharrat Jagdeo on Wednesday frowned on Opposition Leader Aubrey Norton’s proposed subsidy on the price of gasoline in order to ease the rising cost of living. Mr Norton specifically recommended that the government should ensure gas prices do not increase above a determined level by compensating suppliers for any price increases where the excise tax reductions have already ...

The ExxonMobil-controlled consortium that is exploring and producing crude oil in the offshore Stabroek Block has agreed to take out a US$600 million insurance “per event” to cater for any oil spill clean-up, even as talks continue for a US$2 billion parent company guarantee, Vice President Bharrat Jagdeo said Wednesday. He told a news conference that consortium named Esso Exploration ...

Vice President Bharrat Jagdeo on Wednesday indicated that the government has asked CGX Energy to relinquish parts of its offshore concessions so that they could be added to a list of areas to be auctioned later this year. He made it clear that CGX Energy, which is in a joint venture with fellow Canadian company Frontera, would be giving up ...

Opposition Leader Aubrey Norton is recommending that the government subsidise the cost of fuel , amid steadily rising prices at the pump. Mr. Norton says the Guyana government should use some of the money from the price windfall to stabilise the prices of gasoline and so prevent a rise in cost of living. “The government should ensure gas prices do ...

A helicopter belonging to Air Services Limited (ASL) Tuesday morning made a precautionary landing on a road due to technical difficulties. Director-General of the Guyana Civil Aviation Authority (GCAA) Retired Lt. Colonel Egbert Field confirms that the pilot landed the aircraft on a road after it began vibrating. “It landed safely on a road,” Mr. Field told Demerara Waves Online ...

The Guyana Civil Aviation Authority (GCAA) says it is not true that American Airlines will be cancelling all flights to Guyana from August 1.  “The Guyana Civil Aviation Authority (GCAA) hereby advises the general public that there is a fake memo dated June 10, 2022 which alleges that it is from American Airlines,” the aviation regulatory agency said. According to ...

The International Monetary Fund  (IMF) is warning Guyana against spending rapidly on public investment projects because this can have severe economic consequences. “Staff urge caution in determining the pace of ramping up public investment. While pressing development challenges still face the country, a large surge in public investment could add inflationary pressure, affect competitiveness of the non-oil economy, lead to ...

Minister of Agriculture Zulfikar Mustapha on Wednesday said every effort would be made to ensure only fisherfolk receive the GY$150,000 one-off cash grant to assist with rising cost of operations. Interacting with fisherfolk at one of the seashores, he said only legitimate persons would be able to draw down the money and even if one person owns several boats, he ...

The ExxonMobil-led Esso Exploration and Production Guyana Limited (EEPGL) will have to be pay a higher fine of US$50 per tonne of carbon monoxide, up from US$30, if it breaches the flaring rules under its Environmental Protection Agency’s (EPA)-renewed five-year permit for the Liza 1 project in the Stabroek Block.  “The permit also goes further to require the Permit Holder ...

The Minister of Health, Dr Frank Anthony is urging Guyanese to call in authorities if they see anyone violating the No Tobacco Law as part of an overall crackdown on the potentially deadly habit by enforcement and education.  Dr Anthony said the government was relying on educating Guyanese about the need to stop smoking in public places but if that ...