Persons who have purchased duplexes or condominiums from the state would soon be able to access the titles to their properties as the draft amendments for the Condominium Act have been completed and are currently with stakeholders for analysis, Attorney General Anil Nandlall has announced.
Nearly 20,000 tonnes of steel sheet piles are being stockpiled by Tristar at its planned Malgre Tout offshore base as the company prepares to begin revetment works at the facility.
With nearly US$345 million in a United States account from oil proceeds and no legislation for a Natural Resource Fund or its spending nearly 18 months after oil production began, the World Bank says Guyana’s fund needs early operationalising.
As United Kingdom-based company Valiant Business Media (VBM) prepares to host the third Guyana Petroleum Exhibition (GIPEX) summit virtually next month, Vice President Bharrat Jagdeo on Friday announced that government would not be participating, citing concerns about inadequate local content initiatives and accusing the organisers of ties to the opposition.
After filing lawsuits against the principals of Cevons, Car Care and Courtney Benn, the government yesterday announced that it will settle with all three parties but vowed to pursue public officers who might have transgressed.
Rising food prices underscore the national importance of the Intermediate Savannahs soya bean and corn project, according to investor and Bounty Farm Director David Fernandes, who says the venture represents a long-term solution to the country’s reliance on imports.
Upbeat about being part of a project to produce corn and soya bean locally for livestock feed, Chief Executive Officer and owner of Guyana Stockfeeds Inc, Robert Badal says the initiative will significantly decrease reliance on imports and ensure prices, especially for poultry, remain constant.
Scheduled to be commissioned in June, Demerara Distillers Limited (DDL) will be importing milk powder for its pasteurised milk processing plant until this country has an “organized dairy sector”, Chairman Komal Samaroo says.
An oil and gas masterplan for Guyana done by the Government of Japan had concluded in 2019 that a gas to power solution based on the country’s petroleum operations is economically viable but it leaned heavily in favour of an offshore facility rather than an onshore plant.
Canada-based Guyanese Omkaar Sharma will be investing around $75 million (CDN$450,000) in a Region Five plant to bottle farmers’ milk for sale across the country.
Having recently purchased land on the East Bank and East Coast of Demerara, Trinidad and Tobago headquartered Ramps logistics plans to significantly expand its oil and gas support services here and is hoping that an export free zone will be established in the future to catapult Guyana as a hub for exporting equipment and services, especially to the region.
If Guyana can get the approximate US seven cents per KWH projected for electricity from the gas-to-shore project, it should grasp the opportunity as this could be the catalyst for broad economic development but the suppositions must be underpinned by robust studies, financial analyst Floyd Haynes says.
Former Senior Advisor to the International Monetary Fund (IMF) Asgar Ally says that Guyana needs smaller banks but should also court a large western bank to start operating here if it wants to attract large foreign investments.
Even as plans continue for bringing gas to shore, ExxonMobil is working on amending the existing development plan for the offshore Liza-1 production area as it relates to commercial issues and expects to hand the document to government soon, the company says.
The Bank of Guyana (BoG) is awaiting a formal application for a licence and other documentation from First Citizens Bank (FCB) Limited of Trinidad and Tobago with which Canada’s Scotiabank last month announced it had reached an agreement for the sale of its operations here.
Anticipating “significant progress” in the partnership with government in advancing the gas-to-shore project here, ExxonMobil yesterday announced that the associated gas availability from the Liza fields has been changed from 35 million standard cubic feet per day (mmscfd) to 50 mmscfd.
Hoping to tap into the current and future demand for stone, local businessman Nazar ‘Shell’ Mohamed is optimistic that his proposed quarry business will be granted all the necessary permits and he promises to commence operations by January of next year if he gets the green light.
Before any gas-to-shore project is embarked upon, a detailed feasibility study is needed along with an analysis of whether renewable energy might not be a better option, according to former presidential advisor on petroleum Dr Jan Mangal.
To allow small businesses access to 20% of government procurement, the National Procurement and Tender Administration Board (NPTAB) has implemented a 5% margin of preference to those businesses that qualify under law.
With projections for the production of 220,000 barrels of oil per day from 2023 and 500,000 by 2025, ExxonMobil yesterday said that the Houston, East Bank Demerara shore base alone will not suffice and has advertised for firms to show their onshore support services capabilities.
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