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The ExxonMobil company announced this morning that it has started production at Payara, which is Guyana’s third offshore oil development on the Stabroek Block. With production beginning at Payara, total production will now increase to 620,000 barrels of oil per day. Exxon announced that The Prosperity floating, production, storage and offloading (FPSO) vessel is expected […]
The Private Sector Commission (PSC) is heaping praise on President Irfaan Ali and his Government for adjusting the salary scale for graduate teachers and offering the one-off $25,000 bonus to public servants and pensioners. In a Statement, the PSC said the increase in disposable income is seen as a positive development for the economy, and […]
The Guyana Public Service sees the $25,000 bonus for public servants to assist with the cost of living as insensitive and an insult. In a release, the GPSU said the announcement by the President was arbitrary and insensitive in light of the astronomical increases in the cost of living. During his address, Preaident Ali also […]
The Vreed-en-hoop Shorebase Inc. saw the docking and offloading of the first commercial vessel at its shorebase facility, at the newly constructed man-made island. The docking of the vessel was also celebrated as it was registered as the longest vessel, at over 190 meters, to ever enter the Demerara River Channel. Additionally, with a cargo […]
The Government is giving the assurance that the Guyana Power and Light Company will be able to meet the current demand for electricity when it commissions the 17 power generating sets that are on their way to Guyana from the Dominican Republic. The generators, valued at US$27M, will generate 28.9 megawatts of electricity. According to […]
The Georgetown Chamber of Commerce and Industry (GCCI) has broken its silence on the ongoing electricity problems across the country and today registered its dissatisfaction with the spate of power outages that have gripped the country over the past few weeks. In a statement, the private sector body expressed its ‘profound disappointment’ over the frequency […]
The Sheriff Group of Companies has turned the sod for the commencement of construction of a $5.2 Billion Mall, at Palmyra in Region Six. The Sheriff Mall will be built in four phases, with the first phase expected to be completed in August 2024, representing an initial investment of GY$1.3 billion for that first phase. […]
Led by businessman and newspaper owner, Glen Lall, a large group of concerned citizens picketed outside the President’s Office this morning, demanding a renegotiation of the oil contracts with the ExxonMobil company and calling for the removal of Vice President Bharrat Jagdeo. “This is not a race issue, this is a national issue, we want […]
The newly elected President of the Guyana Gold and Diamond Miners Association, businessman Ronaldo Alphonso, has issued a call for the Government to address the problem of raiders in the gold industry. In a statement, Mr. Alphonso said with over two decades of experience in mining, he has witnessed the challenges faced by miners of […]
With its eyes set on the Stabroek Block, oil giant Chevron Corporation announced, today, that it has entered into an agreement with Hess Corporation to acquire all of its outstanding shares in an all-stock transaction valued US$53 Billion. Hess is one of three developers in the Stabroek Block with a 30 percent interest. To date, […]
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