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Extractive Industry

Canadian business chamber to open doors in Guyana amid oil, gold rush

Canada on Monday announced plans to established a business chamber in Guyana, as several Canadian companies step up preparations to search for oil offshore the South American nation. Canada’s High Commissioner to Guyana, Lilian Chatterjee made the announcement at a reception at the Marriott Hotel to mark her country’s 152nd anniversary since three provinces came together to form that North ...

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First Lady commissions ExxonMobil’s first FPSO for Guyana

First Lady Sandra Granger on Saturday commissioned the ‘Liza Destiny’, the first in a series of Floating Production Storage and Offloading (FPSO) vessels for ExxonMobil Guyana at the Keppel Shipyard in Singapore. The vessel will depart Singapore in July and is expected to arrive in Guyana in September to prepare for the commencement of oil production for the Liza Phase ...

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Guyana flags reduced oil profits under ExxonMobil deal; preparations needed for price shocks IMF

The International Monetary Fund (IMF) has pointed to lingering uncertainty about how much profit oil Guyana will actually rake in, even as that global financial watchdog says it is ready to help the country prepare for oil price shocks. Preliminary findings of a 2019 Article IV official visit show that Guyana is well on its way to achieving 4.4 percent ...

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Ghana to help Guyana’s energy sector

Ghana’s President, Nana Akufo-Addo has agreed that his country would help Guyana’s energy sector, Director-General of the Ministry of the Presidency, Joseph Harmon said. Briefing the media after Akufo Addo was conferred with Guyana’s national award, the Order of Excellence by President David Granger, Harmon said the technical assistance cooperation would be provided free of cost. “This is very important ...

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‘No oil blocks investigator contacted me’; probe will prove deals above board – Former Natural Resources Minister

Former Minister of Natural Resources, Robert Persaud on Sunday said no government investigator has questioned him concerning the issuance of oil concessions and he and members of the then People’s Progressive Party Civic (PPPC) administration were not worried about an independent probe. Officials of the State Assets Recovery Agency (SARA) less than one month ago caused quite a stir locally ...

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Occupational safety visits to Guyana offshore drill-ships too costly for Labour Department to conduct

The Labour Department cannot afford the money to inspect oil exploration vessels offshore Guyana to ensure they are complying with the country’s occupational safety and health laws, Labour Department Consultant Francis Carryl said Friday. “When we can afford to go out there, we will go to see exactly what is happening and I doubt whether we can go more than ...

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Natural gas eruption in northwestern Guyana

Natural gas was Tuesday continuing to spew in northwestern Guyana from what was expected to be a potable water well being drilled by a Brazilian company for a private businessman, official said. Region 1 (Barima-Waini) Chairman, Brentnol Archer told Demerara Waves Online News that as far as his regional council was aware, no information or request was submitted. “Our concern ...

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Guyana Gold Board clears air on dealer licence granted to man held with 30 pounds of gold

The Guyana Gold Board (GGB) on Monday confirmed that a gold dealer’s licence was issued to Adolphus Mining Inc. after checks and verification were done on one of the company’s principals in whose possession a large quantity of raw gold had been found. The Board also confirmed that television reporter, Travis Chase is a director of the company which was ...

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Illegal miners at Marudi Hill, Tassawini ordered to remove

34 gold miners occupying Mazao Hill and engaging in “dangerous and illegal” mining at Marudi Mountain in Region 9 (Upper Takutu-Upper Essequibo), southern Guyana, were being removed because they breached a 2016 agreement, the Ministry of Natural Resources said Sunday. Authorities said the Guyana Geology and Mines Commission (GGMC) decided to bring a halt to illegal mining in that area ...

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