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Guyana’s oil revenues will decline in short term; ExxonMobil won’t stop production in Guyana

Plummeting demand for oil as a result of the Coronavirus (COVID-19) pandemic and an oil price war are expected to see Guyana earning less than the US$300 million it had expected to rake in annually from the Liza Phase 1 project and force ExxonMobil to push back developing other oil reservoirs, an analyst said. ExxonMobil spokeswoman in Guyana, Janelle Persaud ...

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GuyTIE 2020 participants benefit from capacity building workshops

Over 50 businesses participating in the upcoming Guyana Trade and Investment Exhibition (GuyTIE) 2020 scheduled for May, 2020, benefitted from capacity-building sessions in the key areas of trade facilitation and corporate social responsibility (CSR) over the course of three days. CSR is a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public. CSR ...

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Guyana’s economic diversification paying off, political situation not scaring away investors -Jordan

Finance Minister Winston Jordan on Wednesday boasted that Guyana’s economy last year grew by 4.7 percent despite poor performances in traditional sectors, and that investors continue to ink concrete deals regardless of the political environment. Addressing the symbolic start of the construction of two major hotels on 10 acres of land at Ogle, East Coast Demerara, he said last year’s ...

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First Bauxite considers natural gas-fired aluminium smelter

First Bauxite LLC (FBX) has indicated to government that it would build an aluminium smelter in Guyana if natural gas, a cheap source of electricity generation, could be brought from hydrocarbon fields located offshore, Finance Minister Winston Jordan said. “They said if we can bring natural gas in sufficient quantities, they are prepared to put a smelter right there in ...

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Guyana to sell 5 million barrels of oil in 2020 -energy chief

Guyana is this year expected to lift and sell five million barrels of crude oil being extracted from the Liza-1 well from the ExxonMobil-led consortium under the banner of Esso Exploration and Production Guyana Limited (EEPGL), Director of government’s Department of Energy, Dr Mark Bynoe said Tuesday. “I am happy to say that Guyana is entitled to approximately five million ...

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Arrival of Chinese raises coronavirus fears at Bosai’s Linden bauxite operations

bosai eastmontgom

Guyanese workers at Bosai Minerals Group (Guyana), a bauxite company in Linden, are concerned about the arrival of at least five Chinese from mainland China who have since been quarantined in their rooms as a precaution against the potentially deadly coronavirus (Covid-19). However, Bosai General Manager, Eric Yu said the Chinese nationals, who are from Chongqing, passed through Germany where ...

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GuySuCo offers sugar workers 5% increase

The Guyana Sugar Corporation (GuySuCo) on Monday said it offered field and factory workers a 5% increase in wages and negotiations are continuing with the Guyana Agricultural and General Workers Union (GAWU). Refuting a report in the pro-opposition PPP Guyana Times newspaper that GuySuCo’s offer was around one percent, the state-owned sugar corporation said that on February 7, 2020, it ...

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Gov’t sells Ogle estate land for GYD$52 million for Marriott construction; Trinidad investor dismisses political situation

Triniyuana, a recently registered company in Guyana, has purchased 2.61 acres of “prime” land at Ogle, East Coast Demerara for more than GYD$52 million to build an AC Marriott-branded hotel. Privatisation Specialist at the National Industrial and Commercial Investments Limited (NICIL), Rachael Henry says the land was sold at more than GYD$26 million per acre, higher than the valuated price. ...

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New Marriott hotel for Guyana

A new five-star 150-room AC Marriott Hotel is scheduled for construction in Guyana this year, government’s National Industrial and Commercial Investments Limited (NICIL) announced on Wednesday. “Trinuyana Investments Incorporated principals are confident that the proposed development will boost the existing architectural and landscape ambience of the Ogle area while providing a sustainable design approach, ensuring that the space remains a ...

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GB&GWU insists on arbitration, other demands before workers recall

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, ...

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