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Guyana simplifies investment processes with new single-window system

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The oil-rich nation of Guyana is taking significant steps to simplify business operations and attract more investments with the launch of its Planning and Development Single Window system. This new system, as announced by President Dr. Irfaan Ali, focuses...
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“I will not be compromised” – Pres. Ali on sanctioned businessmen 

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Guyana’s President, Irfaan Ali, is adamant that he will not be compromised in wake of sanctions levelled against two local businessmen by the U.S. Treasury Department just days ago.  “I will not be compromised, not me,” Ali affirmed during a...
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Guyana to inject US$66M into state power company to offset fuel price increases

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In response to rising global fuel prices, the Guyana government will soon present a supplementary budget of US$66 million to the National Assembly to enable the state-owned Guyana Power and Light to subsidize electricity costs for domestic consumers. Vice President...
News

Eni sells 10% stake in Saipem for €393 Million

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Italian oil and gas company Eni has divested a 10% stake in oilfield services provider Saipem for €393 million (US$422.48 million). The sale was conducted via an accelerated bookbuilding process on June 11, 2024, with the transaction set to...
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Guyana to implement ‘regime of penalties and sanctions’ for gold smuggling, following U.S. expose

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Guyana's Vice President Bharrat Jagdeo says a range of tougher penalties and sanctions will be introduced for persons caught smuggling large quantities of gold. This follows an expose by the United States, of gold smuggling, tax evasion and corruption...
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Saipem, CNOOC to host meetings with Guyana suppliers

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Saipem and CNOOC are set to hold separate meetings with Guyanese businesses in June.  Saipem’s meeting is an information session for businesses to understand their contractual obligations. It is scheduled for June 20, at 10:00 am. Registration is active, with...
News

Guyana sends gov’t official sanctioned by US on leave 

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The Guyana government said it sent Mae Thomas, an official sanctioned by the United States Treasury Department, on leave with immediate effect. The government statement came hours after an official release from the US announcing sanctions on Thomas; two...
News

Noble Corporation to acquire Diamond Offshore, creating U.S. offshore drilling giant

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Texas-based Noble Corporation is set to acquire fellow rig owner Diamond Offshore in a merger deal, creating a U.S. offshore drilling powerhouse with a fleet of 41 rigs and a combined backlog of US$6.5 billion.  Noble said it will acquire...
News

Exxon data reveals 80% average annual growth in spend on Guyanese suppliers for 2017-2023

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ExxonMobil and its contractors grew their spend on Guyanese suppliers by an average of 80% annually, its 2023 Annual Report revealed. Spend grew from US$23 million in 2017 to US$641 million in 2023. Recent growth in spend picked up, particularly...
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Qatar in 27-year LNG supply deal with Taiwan

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QatarEnergy said it signed definitive agreements with CPC Corporation, Taiwan (CPC) covering the long-term supply of LNG to CPC and partnership in the North Field East LNG expansion project (NFE). The two parties signed an LNG Sales and Purchase Agreement...
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‘Business as usual’: No disruption in Guyana’s operations despite Venezuela controversy – GCCI Pres.  

Kathy Smith, President of the Georgetown Chamber of Commerce and Industry (GCCI), has made it clear that there has...

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