Marcelle Thomas

The third draft of Guyana’s Local Content Policy has received mixed reviews from the private sector, with some hailing the proposed measures to ensure that Guyanese benefit from the oil and gas sector, while others say more needs to be done.

Giving the  APNU+AFC a “mixed review” and apologising for its shortcomings while in office, APNU member the Working People’s Alliance(WPA) yesterday announced that it would remain in the governing coalition for the next elections and pledged to be active in ensuring that promises are kept.

Fat Boy Ventures Inc, the Pomeroon coconut factory fined $1 million for polluting and which subsequently decided to shutter operations, yesterday rejected a government report that suggested that it had reopened.

Diversification plans for the Guyana Sugar Corporation (GuySuCo) have been delayed as the government seeks approval to reallocate funds from a $30 billion bond as some priorities have changed.

The Pomeroon coconut factory fined $1 million by the Environmental Protection Agency (EPA) last month for dumping husks and shells in the surrounding waterways has closed operations indefinitely and is blaming the EPA for not giving it enough time to get its operations in compliance with rules.

The current political impasse has had “no real” impact on Guyana’s economy or its investment climate, according to Finance Minister Winston Jordan, who says preliminary findings from the 2019 Mid-Year Report signal a 4% growth rate in the first half of the year, and project a 4.4% growth for the entire year.

With evidence of soaring real estate prices and the buyout of most riverfront lands along the Demerara River in Region 4 for the oil industry, Minister of Finance Winston Jordan says that it cannot be dismissed that the feared Dutch Disease is already here in Guyana.

ExxonMobil’s local subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), and partners have secured the necessary local insurance for its operations here even as the oil major’s Country Manager Rod Henson assured that it won’t have to be used since there will be no oil spillage or accidents.

After several warnings, the Environmental Protection Agency (EPA) has fined a Pomeroon coconut company $1 million for its dumping of shells and husks into tributaries of the Pomeroon River.

The 2016 renegotiation of the Production Sharing Agreement (PSA) between government and ExxonMobil’s subsidiary benefitted both sides, according to the company’s Country Manager Rod Henson, who said that the oil major did not “strong arm” anyone and warned of the impact on investment if changes to the agreement are sought.

Tullow Oil and Gas of the United Kingdom yesterday announced that it had spud its first well in the offshore Orinduik Block on Thurs-day and results are expected next month.

President David Granger and Opposition Leader Bharrat Jagdeo yesterday both sounded notes of optimism about reaching agreement on a new Guy-ana Elections Commission (GECOM) Chairperson after they held their first meeting since the Carib-bean Court of Justice (CCJ) declared the previous appointment of retired judge James Patterson to be flawed.

Three years after government faced a scandal over the rental of a Sussex Street drug bond from a party member for millions of dollars, the Ministry of Public Health (MoPH) yesterday commissioned a 428.5 square metre bond extension at its Diamond, East Bank Demerara facility, costing some $161 million.

With the State Assets Recovery Agency (SARA) embarking on a probe of how two small companies without the capacity to drill for oil were able to lock down prime offshore acreage near to ExxonMobil’s key oil find days before the 2015 general elections, the spotlight will likely be on the key decision maker, then Minister of Natural Resources Robert Persaud.

The North Texas Guyanese Association (NTXGA) is arguably one of the most close-knit groups in the United States and relishes keeping Guyana’s traditions alive but it seems to have hit a hurdle in its efforts to pass them on to the younger generations.

The Guyana Sugar Corporation (GuySuCo) yesterday strongly refuted the claims by the Special Purpose Unit (SPU) of the National Industrial and Commercial Investments Limited (NICIL) that it is not adequately accounting for funds it has received and has withheld pertinent information on spending.

Guyana should not hold off on establishing a National Oil Company (NOC), according to the former head of Brazil’s oil and gas regulatory body, Nelson Narciso Filho, who says it would be essential for ensuring local capacity in industry planning and negotiations.

Even as Guyana awaits the Caribbean Court of Justice’s (CCJ) ruling on the December 21st 2018 No Confidence Motion, the Organization of American States (OAS) has pledged its support for this country’s next elections and says it will be willing to help if requested by government.

Small contractors will still have to compete with big companies for all construction projects as this sector is not covered by recently-passed legislation for small business to get 20 per cent of all government contracts.

Investors in a proposed mega ‘green’ project at Linden are bemoaning what they believe is the deliberate delay by the National Industrial and Commercial Investments Limited (NICIL) in notarising and filing their lease agreement although they have been paying rent for over a year.