Extractive Industry

Prime Minister Moses Nagamootoo Tuesday night condemned a Global Witness report that concludes that the 2016 ExxonMobil deal amounts to a US$55 billion giveaway, instead saying that government fast-tracked negotiations to prevent the company from pulling out due to Venezuela’s claim. Nagamootoo criticised Global Witness’ call for a suspension of oil production to pave the way for renegotiation of the ...

Even as the United Kingdom-headquartered international natural resource anti-corruption watchdog, Global Witness, calls for a renegotiation of the Stabroek Block agreement with ExxonMobil to secure at least a 69 percent equal share of oil revenue, an independent probe has found that ExxonMobil appeared to have withheld vital information about another oil discovery before signing the controversial 2016 agreement. The UK-headquartered ...

The Guyana Bauxite and General Workers Union (GB&GWU) on Saturday said it has made up its mind that its pay dispute with the Russian Aluminium (RUSAL)-controlled Bauxite Company of Guyana Inc must be taken to arbitration. Reacting to positions taken by RUSAL representative, Vladimir Permyakov and ahead of a meeting government’s Department of Labour plans to seek with the union, ...

The Ministry of Social Protection’s Department of Labour Thursday afternoon summoned the management of Russian Aluminium (RUSAL)-controlled Bauxite Company of Guyana Inc. (BCGI) to a meeting on Friday to discuss the layoff of a total of 288 workers within the past week without the legally-required notice. Junior Minister of Social Protection Keith Scott, insisting that BCGI has “not properly notified ...

The Russian Aluminium (RUSAL)-controlled Bauxite Company of Guyana Inc (BCGI) on Wednesday afternoon issued a notice that 146 more workers have been laid off immediately but the union vowed to continue blocking the Upper Berbice River until they are all reinstated or paid severance. That is in addition to the 142 workers who have been already been made redundant. Representative ...

ExxonMobil has so far flared more than 1.2 billion cubic feet of natural gas since beginning commercial oil production on December 20, 2019 offshore Guyana, something at which this South American country’s environmental watchdog initially expressed surprise. The Environmental Protection Agency (EPA) Executive Director, Dr. Vincent Adams, asked to confirm what oil industry stakeholders have told News-Talk Radio Guyana 103.1 ...

Bosai Minerals Group Co., China’s largest bauxite producer that is operating in Linden, is set to be fined at least another GYD$1 million, the second such fine in about one month as a breach in its tailings pond caused flooding of several houses downslope, the Executive Director of the Environmental Protection Agency (EPA), Dr. Vincent Adams said Monday. When contacted, ...

Civil Society is being encouraged to formulate its own oil and gas manifesto for the upcoming general elections and give to the political parties to implement. This idea is being floated by the Policy Forum Guyana, an organisation that focuses on accountability and transparency issues related to natural resources, climate change and extractive industries. The role of civil society was ...

Poor-performing Guyana Goldfields Inc. has appointed a new President and Chief Executive Officer who it says has a track-record of turning around companies. Mr. Alan Pangbourne will assume duties from January 1. A company statement says Allen Palmiere, who was appointed interim Chief Executive Officer, will continue as a director of the company. Guyana Goldfields notes that Mr. Pangbourne brings ...

Financially-crippled by six weeks of closure that government had ordered following the death of a geologist in a mining pit, the Australian gold mining company, Troy Resources Limited, on Monday said it would send home almost 400 workers in Guyana. In an internal one-page memorandum seen by News-Talk Radio Guyana 103.1 FM/Demerara Waves Online News, the company told employees that ...