Marcelle Thomas

The development cost for ExxonMobil’s offshore Liza Phase-1 project has been significantly revised from the projected US$4.4 billion to US$3.7 billion.

Republic Bank has denied the claim that it would control up to 51% of Guyana’s banking assets should its acquisition of Scotiabank’s banking operations here go ahead.

Following complaints from  pensioners and parents of minor savers of unnecessary hassle in conducting transactions, the Bank of Guyana (BoG)  is working with banks to ease red tape without breaking any of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) laws.

Despite “significant interest” in Guyana’s remaining deep water oil blocks, the Department of Energy (DoE) has no immediate plans to grant any concessions until it completes an oil and gas model contract for future Production Sharing Agreements (PSAs), which could take just over a year.

The Berbice Bridge Company Incorporated (BBCI) yesterday announced that it would be instituting huge hikes in tolls as of November 12th, 2018 but Public Infrastructure Minister David Patterson assured residents of the county that the government would do everything in its power to ensure that they pay no increases.

Ensuring that the over 7,000 workers laid off by the Guyana Sugar Corporation (GuySuCo) receive their severance payments and planning for current and future staff are among the top priorities of newly-appointed Chairman of the company’s Board of Directors John Dow.

The United States has granted Russian aluminium giant, Rusal a few more weeks to find a way to avoid sanctions but local workers remain worried and a task force set up to look into the matter has stalled though government says that it is taking steps to ensure their welfare.

After several months without a Board of Directors, the APNU+AFC Cabinet on Tuesday approved a new board for the Guyana Sugar Corporation (GuySuCo) with agriculture expert John Dow tipped to be chairman, sources say.

Tapping into the emerging oil and gas sector, gold magnate Nazar ‘Shell’ Mohamed has made a  big investment in a storage facility at Mc Doom on the East Bank of Demerara which is expected to serve ExxonMobil’s current offshore works.

A long-delayed Memorandum of Understanding (MoU) between Guyana and Trinidad on energy cooperation is expected to be signed in the coming weeks, according to Trinidad and Tobago’s Minister of Energy, Franklin Khan.

-argues that approval for Liza Phase 1 defective -sees need for slowing down of Exxon’s planWith less than two years to first oil, former Government Advisor on Petroleum, Dr Jan Mangal says the number of  oversight personnel has to be swiftly  ramped up to monitor the current operations and  before ExxonMobil is given approval for its Liza Phase 2 Development Plan.

Facing questions from a parliamentary committee, ExxonMobil yesterday denied that it was funding any political party or political initiatives in Guyana.

Following the discovery of a number of safety infractions, the aircraft which crashed shortly after take-off in Cuba last Friday, leaving 110 persons dead, had been grounded by the Guyana Civil Aviation Authority (GCAA) last year.

Even as he sought to assure taxpayers yesterday that they are getting value for money on the US$150 million Cheddi Jagan International Airport (CJIA) expansion project, Minister of Public Infrastructure David Patterson said an additional $346.5 million in supplementary funding is being sought for to see the project to completion.

Three companies, including two regional conglomerates, have expressed interest in taking over the shuttered Wales, West Bank Demerara sugar estate in a deal that is expected to see the development of significant agro-processing operations here.

Twenty-three Guyanese, including a doctor, have been working on a drill ship contracted to ExxonMobil for oil operations and yesterday the company flew seven journalists to the site for a firsthand look at operations.

Residents of Barama, Region One are bemoaning the three-month closure of the Yakishuri Aerodrome by the Guyana Civil Aviation Authority (GCAA) as the Barama River is dry and their access to health care and other services has been severely hindered.

Rejecting suggestions of any conflict of interest because he was once a director of a locally-registered oil company, the Deputy Director of the Petroleum Directorate Nicholas Chuck-A-Sang says qualified Guyanese in the sector should be encouraged to serve their homeland without concerns that they will be influenced by their former employers.

  Guyana’s Gross Domestic Product (GDP) growth for last year was 2.1%, falling short of government’s projection of 2.9%, and the 2016 figure of 3.3%, Finance Minister Winston Jordan said yesterday.

If government believes or has evidence that there are illegalities in ExxonMobil’s and partners’ operations offshore, it will make an impromptu visit despite the contract saying that the minister must give seven days’ notice, Minister of Natural Resources, Raphael Trotman says.