Business

President Irfaan Ali announced the launch of Guyana’s competitive bid round for 14 offshore oil blocks fr0m Friday, December 9. He said the process is expected to close with the submission of bids on April 14, 2023. and contracts awarded by May 31, 2023. “This, of course, will follow negotiations and evaluation of the bids that we receive during this ...

An Air Services Limited (ASL) pilot said he was dismissed because he raised concerns that the main rotor blades on the company’s helicopter was unsafe as they had caused the aircraft to vibrate heavily while airborne, forcing him to make an emergency landing. While Captain Akeem Stoll said he complained to the Labour Ministry, the minister Joseph Hamilton said he ...

The Iwokrama International Centre for Rain Forest Conservation and Development  on Wednesday welcomed Guyana’s securing of an innovative carbon credit agreement with Hess Corporation. The new agreement is the world’s first under the Architecture for REDD+ Transactions (ART) initiative, and The REDD+ Environmental Excellence Standard (TREES) system. “It is important to note that accreditation under the TREES process includes the ...

A money changer has been shot and robbed in the busy Stabroek Market area, after his colleague attempted to defend himself with a knife, police said.  “During the confrontation, the suspect who was armed with a firearm, relieved one of the victims of his money. While attempting to rob the other victim, who pulled out a knife from the waist ...

In the wake of a request for parliamentary approval of an additional GY$1 billion for the state-owned Guyana Sugar Corporation (GUYSUCO), opposition Shadow Finance Minister Volda Lawrence on Monday cast doubt on that loss-making entity’s budget process as it has already chalked up GY$12 billion in operational expenditure up to October 2022. “Are you saying that in your planning for ...

Government on Monday said it is pumping a GY$15.6 billion subsidy into the supply of electricity on the coastland as well as several interior towns and districts. Public Works Minister II Deodat Indar said Guyana Power and Light (GPL), which supplies electricity to the Essequibo, Demerara and Berbice coastal communities, needed GY$14.3 billion more to cater for the sharp rise ...

Sheriff Security Service was robbed of a GY$500,000 payroll while guards at Guyana Shorebase Inc (GYSBI), Houston, East Bank Demerara were being paid, police said. The robbery was committed at about 6:20 PM Saturday by two males who arrived on the scene on  motorcycles. Police said  the incident was reported three hours later at 9:15 PM. Police said the Site ...

Hess C0rporation, one of the co-venturers in the prolific Stabroek Block, on Friday inked deal with government to buy US$750 million in carbon credits from Guyana, which would see Indigenous Indian communities getting a portion of the funds, officials said. Vice President Bharrat Jagdeo announced that from US$28 million of the US$187 million legacy credit for 2016-2020 which Hess has ...

Hess Corporation and the Government of Guyana on Friday announced an agreement for Hess to purchase high quality carbon credits for a minimum of US$750 million between 2022 and 2032 directly from the Government of Guyana. The company says this agreement will serve to support Guyana’s efforts to protect the country’s vast forests and provide capital to improve the lives ...

Guyana will sign its first sale agreement on carbon credits on Friday, December 2. President Dr Mohamed Irfaan Ali will witness the signing at the Baridi Benab, State House. Speaking at the Guyana Oil and Gas Energy Chamber’s Annual Awards and Induction Ceremonial Dinner on Wednesday, Vice President Dr Bharrat Jagdeo said Guyana will be the only country in the ...