Marcelle Thomas

Two United Kingdom companies have won the contract to market Guy-ana’s oil share for the next fiscal year, government announced on Thursday, as daily oil production will also now come from three developments in the offshore Stabroek Block from next year.

A US$500 million lending purse has been extended to Guyana by the African Export–Import Bank (Afreximbank) to assist this country in hastening its infrastructural development agenda, President of the Bank, Dr.

A 250-plus delegation yesterday arrived in Guyana aboard an Ethiopian Air-lines aircraft for the second AfriCaribbean Trade and Investment Forum (ACTIF23) which begins today at the Marriott Hotel.

The Guyana Gold Board (GCB) has no role to play in collecting royalties from large-scale gold mining companies and this was made clear in the agreements the companies  signed with respective governments and highlighted by it to the Ministry of Finance back in 2019, former head of the agency, GHK Lall, says. 

ExxonMobil yesterday said that it told the opposition that it believed that it had proved that the US$214 million flagged by IHS Markit was reduced to US$3 million, but did not say that government had agreed to or finalised the process.

With no response from the company since a demand letter was sent last month, the government is of the view that Troy Resources has given up on Guyana and won’t be returning, leaving behind debts of $2.6 billion in royalties and over US$500 million to the Guyana Geology and Mines Commission (GGMC), top government officials said.

The contentious $865 million Belle Vue, West Bank Demerara, Pump Station contract award to Tepui Group was flawed, as not only should the company have been disqualified for not meeting the bidding criteria but the National Procurement and Tender Administration Board (NPTAB) erred when it lumped two other contracts to the award, former Auditor General Anand Goolsarran says.

The Public Procurement Commission (PPC) is to launch an investigation into the controversial $865 million Belle Vue, West Bank Demerara, Pump Station contract award to Tepui Group and will ask for the documents of the 26 bidders, Opposition Member of Parliament David Patterson yesterday said.

For their share in a US$300 million investment made with two other local businesses in the NRG consortium for the Vreed-en-Hoop Shorebase Inc (VEHSI), the Nazar ‘Shell’ Mohamed-owned Hadi’s World Incorporated has pulled out and is selling its shares to the other partners, a decision, Mohammed says, is based on personal religious beliefs.

Three weeks after he committed to provide evidence that he had reached out to Opposition Leader Aubrey Norton eight times in an attempt to fulfill his constitutional mandate, President Irfaan Ali is yet to deliver on the promise.

In a decision to focus on its Stabroek and Canje Blocks here, ExxonMobil yesterday announced that it has withdrawn its interests from the 3.3 million-acre (13,535 square kilometers) Kaieteur Block.

`I do not accept the GPF’s apology nor do I believe them.

Thirty months after a key audit of ExxonMobil’s expenditure found that it improperly listed US$214m in expenses, the government on Thursday finally accepted the findings of the UK auditor and blame was shared for an apparent unauthorised attempt involving the American oil company to slash the disputed figure to as low as US$3m.

The ANSA McAl Group of Companies last evening formally launched its US$15 million subsidiary – ANSA Building Solutions (ABS) – which focuses on meeting the demands of the booming infrastructure sector here and promised to continue bringing state-of-the-art services, in addition to a planned further investment of more than US$12 million.

Steering clear of a commitment to the confirmed appointments of  a Chancellor of the Judiciary and Chief Justice of this country, President Irfaan Ali yesterday said this will occur at the “appropriate” time.

The Barbados Crop Over festival came to an end last  month with many Guyanese joining the thousands of visitors to the island for a high-energy, events-packed week  and many are urging fellow citizens to go experience the diversity of the carnival-like celebrations for themselves.

`We don’t get involved in the details of these contracts. We don’t certainly get involved in the details of any business.

If the feasibility study into the building of a deep-water container port here determines that it is viable, the project would have to be undertaken by the private sector although government would support it, President Irfaan Ali says.

Outgoing US Ambassador Sarah-Ann Lynch says Washington does not fear losing influence to Beijing here and has amplified its own strategy to ensure that it remains Guyana’s and the Caribbean’s number one ally.

The government has sent a demand letter to Australian mining company, Troy Resources, which abruptly shuttered operations here, warning that failure to pay the over $2.6 billion in royalties owed, will result in the termination of their agreement and licences while simultaneously pursuing all legal means to ensure this country collects its due.