Tag: Guyana

NEWS

Guyana Ratchets Up Economic Growth

The Guyana economy grew by 14.5 percent during the first six months of this year. This is according to the mid-year report released by the country’s Ministry of Finance. Senior Minister of Finance Dr. Ashni Singh is expected to table the report at the first sitting of the National Assembly when legislators return from their annual recess. Earlier this year, […]

NEWS

Guyana In New School Opening Uproar

Following a three-day strike called by the Guyana Teachers Union (GTU) to protest the lockout or removal of teachers from schools because they are not vaccinated or do not have a negative COVID test. The government has said that teachers who supported the strike action will not be paid. According to press reports, the GTU General Secretary, Coretta Mc Donald, […]

NEWS

Guyana Gushes More Oil

Following the U.S.-based oil firm, ExxonMobil, recent announced discovery of high-quality oil-bearing sandstone reservoirs. The Government of Guyana has welcomed the new find of oil reserves within the Stabroek Block offshore. It noted that this will add to the previously announced gross discovered recoverable resource estimate of more than nine billion oil-equivalent barrels. Vickram Bharrat, Natural Resources Minister with responsibility […]

BUSINESS

Guyana Keeps Gushing Oil

Oil company giant ExxonMobil recently reported its twentieth oil discovery on the offshore of Guyana. The latest find was made at the Longtail-3 site in the Stabroek Block. Vickram Bharrat, Guyana’s Minister of Natural Resources with responsibility for the Petroleum Sector, said the discovery will add to the previously announced gross discovered recoverable resource estimate for the block, which is […]

NEWS

Guyana Gushes More Oil

Guyana’s Government has announced the country’s latest oil discovery within the Stabroek Block offshore Guyana. Natural Resources Minister Vickram Bharrat said the 19th offshore oil discovery will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be more than nine billion oil-equivalent barrels. Mr. Bharrat said the new development in Guyana […]

NEWS

Guyana Says No To Taiwan, Yes To China

Guyana ended an agreement with Taiwan to open an office in the South American country on Thursday after facing pressure from China to end the relationship. Taiwan’s foreign ministry had announced earlier that it had signed an agreement with Guyana to open an office in the country. However, Beijing seized upon the plan, claiming Guyana must correct their mistake. Beijing […]

POLITICS

Venezuela And Guyana In Tangle Over The Rich Territory Of Essequibo

The tension between Venezuela and Guyana is becoming increasingly evident. Last weekend, a Venezuelan military vessel intercepted and captured two Guyanese fishing boats alleging that the vessels were in its territorial waters. Guyana denied this, arguing that both vessels were operating within its jurisdiction. The incident is the latest chapter in a more than 100-year conflict over the territory of […]

NEWS

Baby Died In Guyana From COVID-19

The Caribbean recorded its youngest ever death from COVID-19 after a six-day-old baby died of the virus in Guyana.  The country reported two people dying from the disease on Monday, which included the infant. The other fatality is that of a 31-year-old woman. The total number of COVID-19 infections in Guyana now stands at 151. The Ministry of Health in […]

NEWS

Guyana Up The Ante In New Hotel Building

Guyana is plowing back money into the country’s infrastructure development and new ventures with its newly found oil wealth. The country, in one of its latest building moves, signed a memorandum of understanding (MOU) for the construction of a US$90 million 289-room hotel. The MOU is with integrated oil and gas service company, TOTALTEC. More than 25 Guyanese contractors and […]

NEWS

Exxon Loads Up On Oil In New Offshore Development In Guyana

According to ExxonMobil, it has made its final investment decision to proceed with the Payara field offshore development in Guyana after receiving government approvals.  The company noted that the Payara is the third project in the Stabroek Block and is expected to produce up to 220,000 barrels of oil per day after startup in 2024, using the Prosperity floating production and […]