Business

Guyana and Suriname on Wednesday advanced one step closer towards the construction of a bridge across the Corentyne River with the signing of a contract for feasibility studies to determine financing, traffic flows and toll and  other revenue generating options. The US$2 million contract with the Trinidad-based consultancy firm, WSP Caribbean, will see the conducting of the studies over the ...

Under constant pressure from the increasing number of heavy duty trucks during the past two years, the constantly broken more than 120-year old water mains in the vicinity of the Bank of Guyana are to be replaced under a GY$800 million dollar project,  Guyana Water Incorporated (GWI) officials said. Executive Director of Design of Infrastructure & Water Resources, Aubrey Roberts ...

The Guyana Press Association (GPA) and the Association of Caribbean Media Workers (ACM) said on Tuesday- World Press Freedom Day- they were worried about whether governments were using spyware to go after journalists and their sources. “On the occasion of World Press Freedom Day 2022 we urge the Guyana government to assure journalists and media houses that it does not ...

Hundreds of households on the East Coast Demerara corridor will now have access to high-speed internet and an improved calling experience with the rollout of GTT Fibre + Voice in the Enterprise Area on April 30, 2022, the company said in a statement.  GTT will be expanding its service to benefit these residents, delivering on our promise to reliably connect ...

A Partnership for National Unity+Alliance For Change (APNU+AFC) Shadow Finance Minister Volda Lawrence on Thursday promised to salvage the cash-strapped National Insurance Scheme (NIS) with 1 percent of current oil revenues, even as she and Vice President Bharrat Jagdeo traded words about which administration was responsible for the state of that social security entity. Ms. Lawrence, in a statement issued ...

  Former Finance Minister Winston Jordan was Thursday detained for questioning in connection with the sale of land at Ogle, East Coast Demerara. Attorney-at-Law, Roysdale Forde says his client was released on self-bail and asked to return to police on May 3, Mr. Forde says the former Finance Minister was contacted by police and asked to report to the police ...

Hess Corporation on Wednesday said the large Yellowtail oil well would be developed jointly with the nearby Redtail well which are both the Stabroek Block offshore Guyana. “There’s also a Redtail discovery that’s being tied into that as well,” said Hess’ Chief Operating Officer, Greg Hill on the first quarter 2022 earnings call. Industry players have been touting Yellowtail as ...

Hess Corporation, one of the co-venturers in oil exploration and production  offshore Guyana, on Wednesday singled out Guyana as a major source of low-cost oil especially due to reduced global output due to the Russia-Ukraine war. The company also said Guyana’s prolific oil discoveries and production haven been helping to drive down Capital Expenditure (CAPEX) cost. Chief Financial Officer, John ...

President Irfaan Ali on Tuesday sought to woo British investors to take advantage of a  wide range of opportunities in this South American nation, saying that already there appeared to be better financing terms other than those being offered by China. In an address to members of the United Kingdom business community, politicians and diplomats, he said the UK has ...

ExxonMobil on Tuesday announced that it has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels. The three discoveries are southeast of the Liza and Payara developments and bring to five the discoveries made by ExxonMobil in Guyana in 2022. The Barreleye-1 well encountered approximately ...