Month: February 2018

With the prospect of new Foreign Direct Investment (FDI) looking tenuous, a number of Barbadian manufacturers and service exporters have launched an exploratory mission to Guyana to seek new trade and market opportunities. According to the Guyana Office for Investment (GO-Invest), the Barbados Investment and Development Corporation (BIDC) will be facilitating ten recently formed companies from the island as they seek to network with local businesses. BIDC has actually been working with GO-Invest on behalf of the companies on the basis of a Memorandum of Understanding (MoU) that was signed…

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Prime Minister Moses Nagamootoo who underwent heart bypass surgery on Tuesday in a United States-based institution has pulled through his operation with expectations that he would make a full recovery. According to information contained in a medical bulletin from Minister of State Joseph Harmon, the prime minister’s surgery was a success. “Prime Minister Nagamootoo is expected to make a full and complete recovery in the coming weeks, before returning to Guyana. Nagamootoo is resting and recovering with Mrs. Sita Nagamootoo, his children and other family members by his side,” the…

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The People’s Progressive Party/Civic (PPP/C) has described the move taken by some insurance companies to request applicants declare their political affiliation, as unconstitutional and unlawful. The Opposition Party said that it has been recently informed of this new development, and it is urging the Government to take action to reverse what it described as a “retrograde move”. It noted that while this new requirement has now been placed on almost all new insurance application forms, there is no reference to any law or regulation that requires this information. “Some applicants…

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The legal challenge to President David Granger’s revocation of the 99-year Red House lease, by its occupant, the Cheddi Jagan Research Centre Inc (CJRCI), is slated to be heard next week Tuesday at the Supreme Court. The case has been before the courts over the past 13 months following the Head of State’s eviction order. It was recently disclosed via notice that the matter is fixed for hearing before acting Chief Justice Roxane George, SC, wherein counsel for the plaintiff, Anil Nandlall and Attorney General (AG) Basil Williams, the named…

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There has been a widespread outpouring of love and commendation for the bravery and quick-thinking shown by seven-year-old Kissan Henry after she managed to save herself and her four-year-old brother from a fire while they were at home alone. In recognition of her bravery, the Guyana Police Force on Saturday presented her with a plaque and a bottle of perfume. The simple presentation was done by Head of the Criminal Investigations Department (CID) Paul Williams, on behalf of the Commissioner and other members of the Force. “The Force has recognised…

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ExxonMobil Corporation recently announced that its oil and gas reserves grew by 19 per cent in 2017 owing to growth in several places like the US, the United Arab Emirates and Guyana. ExxonMobil reported its reserve update following its fourth-quarter earnings, which failed to meet expectations. In 2017, the company added 2.7 billion barrels of oil equivalent (BOE) to its reserves, which marks 183 per cent production replacement. It brings the company’s total proved reserves to 21.2 billion BOE. ExxonMobil believes that the proved reserves hold significant development opportunities, which…

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The Guyana Government says it is satisfied with the performance of its diplomatic representatives overseas, but there is still room for them to deliver better performances given the scope of their responsibilities and the requirements of the overseas missions that they are serving. Speaking during an interview last Thursday, Foreign Affairs Minister Carl Greenidge admitted that he was satisfied with the quality of work being done by the country’s diplomats overseas following Government’s decision to appoint a new batch of representatives after a strict selection process which began in March…

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…says review of Exxon contract unlikely at this time Just over one week after Presidential Adviser on Petroleum, Dr Jan Mangal said Government can review and renegotiate the Production Sharing Agreement (PSA) with ExxonMobil, President David Granger on Monday said Cabinet does not intend to do such at this time. He noted that the PSA is currently engaging the attention of Cabinet and a decision would be made. “The contract is an agreement between two parties and these things have to be portrayed carefully. There is no prospect at the…

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Materials for ExxonMobil’s Liza Phase One development, have already begun arriving in Guyana. According to the Department of Public Information (DPI), last week, the first shipment of pipes arrived at the Guyana Shore Base Inc (GYSBI) facility. Director Lars Mangal said: “We’re ahead of schedule below budget and definitely on track to execute, exceed Exxon’s expectations.” The pipes will be stored and cleaned at the shore base facility located in Huston, East Bank Demerara. This is occurring even as the facility finalises construction, General Manager Glen Lockwood said. “The shore…

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