Daily Archives: 03/02/2020

Guyana Elections 2020: A scoring opportunity Ahead of oil riches, Guyana holds a decisive election – The Economist

The country’s rancorous politics could make it hard to use the bonanza well

At election time, it is easy to tell which ethnic group dominates each of the villages strung out along Guyana’s Atlantic coast even without looking at the people. Where Afro-Guyanese are the main group, the green-and-yellow banners of the ruling coalition flutter. In Indo-Guyanese villages, it’s the red, gold and black of the opposition People’s Progressive Party (PPP). Voting in Guyana’s general election, due to be held on March 2nd, is likely to follow ethnic lines, as it has done for decades. This year the stakes are unusually high. That is because Guyana, South America’s third-poorest country, is about to be transformed by the petroleum that has begun to flow from vast offshore reservoirs.

Oil could change Guyana as radically as did sugar, which brought African slaves in the 18th century and indentured labourers from India in the 19th. By 2024 it could lift income per person from $5,000 to $19,000, nearly the same as in Poland. The IMF expects the economy to grow by 85% this year. By 2030 the government’s share of earnings from oil could reach $10bn in real terms, more than double last year’s GDP. This could “change us once and for all into a Singapore kind of country,” says the finance minister, Winston Jordan. Whichever party takes charge of the bounty could govern for decades. Mr Jordan calls the vote “the mother of all elections”.  Continue reading

Guyana Elections 2020: Guyanese Voting in General and Regional Elections

Caribbean360 News – GEORGETOWN, Guyana, Monday March 2, 2020 – “Guyana today will demonstrate that it’s a democratic country capable of conducting elections efficiently, credibly in accordance with the law and with the Constitution.”

That view was expressed by President David Granger this morning, as he became one of the hundreds of thousands of Guyanese who are voting to elect a new government.

The 2,339 polling places opened at 6 a.m. Polls close at 6 p.m.

Granger, the first person to cast a ballot at the Pearl Nursery School, Pearl, East Bank Demerara this morning, expressed the hope that the estimated 661,378 eligible voters, “regardless of their political persuasion, come out and express their opinion in favour of the party of their choice.”          Continue reading

Guyana Oil: Exxon pressing ahead with fourth well development named Hammerhead

The location of the Hammerhead discovery

amed Hammerhead

EXXONMOBIL affiliate, Esso Exploration and Production Guyana Ltd. (EEPGL), has applied to the Environmental Protection Agency (EPA) to undertake the Hammerhead Development Project, with facilities for petroleum production expected to last at least 20 years.

This marks the pursuit of Exxon’s fourth development project, with Liza Phase I and Liza Phase II already approved, and Payara awaiting approval.    Continue reading

Guyana Elections 2020: Guyana votes amid high hopes over oil discoveries – BBC News

Guyoil gas station in GuyanaImage copyrightALAMY

Voters in Guyana will go to the polls in a general election amid hopes that the discovery of huge new oil reserves could transform the South America nation, one of the region’s poorest.

A new 65-member National Assembly will be elected for a five-year term, and the leader of the largest coalition or party becomes the country’s president.

Incumbent President David Granger faces rival Irfaan Ali for the top post.

The economy is predicted to grow 85.6% in 2020, up from 4.4% in 2019.                Continue reading

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