Exxon’s partner takes billion dollar blow in market trade value after Venezuelan incursion

One of ExxonMobil’s partners in the oil rich-Stabroek Block, Hess Corporation, took a huge blow to its market value after a Venezuelan military ship intercepted civilian vessels which were hired by Exxon to conduct seismic work within its licensed blocks. After the calculations were done, it was noted that the incident which took place on […]

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US$3M portion of signing bonus set aside for capacity building remains untouch–Finance Minister

When American oil giant, ExxonMobil, gave Guyana a US$18M signing bonus back in 2016, the coalition administration had said that US$3M would be put aside for much needed capacity building within the respective ministries and government agencies. But Finance Minister, Winston Jordan recently revealed that that allocation “is virtually untouched.” Challenged to explain why this […]

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Gold Sector revenues to reach US$101M in 2020 — UNDP Rep

Revenues from large scale gold mines in Guyana are expected to be at their highest in 2020 reaching some US$101M. This is according to a study conducted by the United Nations Development Programme (UNDP). Specifically making this known from the report was UNDP Resident Representative, Ms. Mikiko Tanaka. The official noted however that this money […]

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Police Force launches probe after $11M goes missing from ‘G’ Division

The Guyana Police Force (GPF) has launched a massive investigation after its commanding officer for ‘G’ Division, Khali Pareshram is unable to account for $11M. The Guyana Standard has been informed that the money disappeared from the division’s Finance department sometime last year. The rank, who was heading that department, has been on leave since […]

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No concrete evidence to support link between ASP and multi-million-dollar drug deal

Three weeks ago, an Assistant Superintendent of Police (ASP) was reportedly double-crossed by two “small time” drug dealers who were supposed to make arrangements for the purchase of six million dollars worth in cocaine. The cash reportedly belonged to businessmen in neighbouring Suriname and the senior cop was facilitating the deal. The exchange was supposed […]

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Guyana Goldfields Board left investors in the dark-Concerned Shareholders

Not only did the current Board of Directors of the Guyana Goldfields Inc. lose over CDN$1B (US$733M) in shareholder value due to a series of reckless decision making, but much of what they have been doing was hidden from shareholders. Raising these concerns to the Canadian headquarters and several local industry regulators are Northfield Capital Corporation’s Robert […]

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Guyana Goldfields Board loses over US$733M in shareholder value

The Board of Directors for Guyana Goldfields Inc. is being accused of losing over CDN$1B which is around US$733M in shareholder value accumulating since 2016. As a result of this, a group of concerned shareholders is calling on the local office to have the Board be replaced immediately by competent individuals. Specifically, Northfield Capital Corporation’s Robert […]

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Govt. to halt pension payments at post offices from next year

One of the biggest challenges facing the Government is the administration of pension payments at the nation’s post offices. Minister of Public Telecommunications, Cathy Hughes recently said that pension payments continue to be a massive drain on the resources of the Guyana Post Office Corporation (GPOC). And given the spate of robberies, Hughes said that […]

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All regions get 16 percent increase to support Health, Education, Agri. projects-Minister Bulkan

The nation’s 10 administrative regions will benefit from the sum of $39.3B for capital expenditure next year. This was revealed by Communities Minister, Ronald Bulkan during the recently concluded budget debates. The Minister said that the allocated sum represents an increase of 16 percent over 2018’s provisions. Bulkan said that the regions will be using […]

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IDB lending US$11.6 M support to transform Guyana’s Energy Sector

Guyana is set to transform its energy governance with help from the Inter-American Development Bank (IDB). This will translate to an US$11.64 M loan which will prepare Guyana to transition towards becoming a major oil and gas producing State. This project, according to information released by the IDB today, is designed to support the strengthening […]

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