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IDB helping Guyana strengthen institutions to better leverage oil revenues

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The Inter-American Development Bank (IDB) is helping Guyana strengthen the institutional capacity of its Ministry of Finance which will be in charge of the development and implementation of a Medium-Term Development Strategy. That document, the IDB explained, will essentially...
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Oil has opened floodgates for massive investments across all sectors in Guyana – US Ambassador

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With 10 floating production, storage and offloading vessels (FPSOs) envisioned for the production of Guyana’s multi-billion barrels of oil equivalent resources, companies from across the world are rushing to the South American country to cement their place in every...
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World Bank appoints new Resident Representative for oil hotspots, Guyana and Suriname

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The World Bank recently announced that Ms. Diletta Doretti has been appointed the new Resident Representative for Guyana and Suriname, the two most exciting exploration hotspots in South America. The financial institution said Ms. Doretti will be based in Georgetown,...
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Exxon says removing tax provisions in Stabroek PSA could make projects infeasible

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ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), will be seeking a dismissal of a case brought to Guyana’s High Court which seeks to strike out tax waivers granted to it, its co-venturers and sub-contractors under the Stabroek...
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Comprehensive demand, supply analysis key to success of Guyana’s biggest transformational project – Economist

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As Guyana prepares for construction to commence later this year on the Gas-to-Energy project, former Director of Economics at the Caribbean Development Bank (CDB), Dr. Justin Ram said the country would do well to make sure its natural gas...
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Application process for Exxon’s fifth Stabroek Block development underway

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ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), has already begun the application process for its fifth offshore development in the Stabroek Block, according to information contained in court documents filed by the company relating to a tax...
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Local content advocate, Timothy Tucker, re-elected to head Georgetown business chamber

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Businessman, Timothy Tucker, was on Friday re-elected to the presidency of the Georgetown Chamber of Commerce and Industry (GCCI), an association which represents about 550 businesses. Tucker is the owner of Rid-O-Pes, a pest control company. His re-election occurred at...
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At current oil price Yellowtail will deliver over US$3 million per day for Guyana

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The Yellowtail Project will add to Liza Phase 1, 2 and Payara, contributing positively to economic growth in Guyana, including increased national revenues, which will result in increased government investments in public services and infrastructure; local procurement of select...
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Rice mill giant to fund US$2M mining project in response to oil sector boom in Berbice

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Investments being made by CGX Resources Inc. in the county of Berbice are beginning to increase demand for various products and services. One large-scale business is taking advantage of the opportunity. Rice mill giant, Nand Persaud & Company Ltd., is...
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US$10 billion Yellowtail development will be largest investment in Guyana’s history

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The Yellowtail project will cost US$10 billion to develop, the Ministry of Natural Resources said, in a long-awaited announcement of its approval. This represents the largest investment ever made in the history of Guyana. The Liza Phases One and Two,...
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Exxon hits 900,000 barrels of oil per day in Guyana as Yellowtail reaches full capacity

ExxonMobil Guyana today announced that the country’s daily oil production has reached a new milestone of 900,000 barrels per...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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