Tag Archives: Business

GUYANA: ExxonMobil makes two more oil discoveries offshore

01/06/2022 – 12:03 am

Exxon-Stena Drillmax

DEMERARA WAVES: Denis Chabrol — Wednesday, 5 January 2022 

IRVING, Texas – ExxonMobil today said it made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana.

The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located approximately 11 miles (18 kilometers) northwest of the Liza field. The Lau Lau-1 well encountered approximately 315 feet (96 meters) of high-quality hydrocarbon-bearing sandstone reservoirs. The well was drilled in 4,793 feet (1,461 meters) of water and is located approximately 42 miles (68 kilometers) southeast of the Liza field.

These discoveries will add to the previously announced recoverable resource estimate for the block, of 10 billion oil-equivalent barrels.          Continue reading →

By guyaneseonline | Posted in Business, foreign investment, Government, Guyana, Oil Exploration | Also tagged , , , , , , , | Comments (3)

GUYANA: GPL plans US$300 million investment but electricity theft major problem- CEO

07/25/2021 – 1:15 am

By: Denis Chabrol in Demerara Waves – 17 July 2021, 

The Guyana Power and Light (GPL) plans to invest US$292 million in building a modern transmission and distribution system, and the company is banking on behavioural change to stop losing GYD$4 billion (US$18.6 million) annually to electricity theft, said Chief Executive Officer Bharat Dindyal.

“We have developed a masterplan for transmission and distribution,” he told a webinar organised by the Public Utilities Commission (PUC) on “Energy and Electricity: What we should all know? “. Continue reading →

By guyaneseonline | Posted in Business, Economics/Finance, Government, Guyana | Also tagged , , | Comments (2)

BUSINESS: The office is dead! Long live the office in a post-pandemic world – Opinion

01/26/2021 – 12:03 am

By The Conversation – July 24, 2000

Introduction: The future of the office has become an open question after the coronavirus lockdown forced tens of millions of Americans to work from home. Will office workers flock back to their cubicles and water coolers when the pandemic ends? Or will employees want to hold on to their newfound freedom and flexibility, while employers eye the lower costs of the lack of a physical footprint?

At least a few companies have already answered this question: Twitter, for example, says most of its employees can continue working from home forever, making the office merely a place to meet clients. We asked three scholars to weigh in on the future of the office.        Continue reading →

By guyaneseonline | Posted in Business, Commentary, Economics/Finance, Education, Personalities | Also tagged , , , , , , , | Comments (0)

SUCCESS: Grew Up Poor Jamaican, Multimillionaire Entrepreneur; Harvard Orthopedic Spine Surgeon

10/08/2020 – 12:05 am

Grew Up Poor Jamaican, Multimillionaire Entrepreneur, Harvard Orthopedic Spine Surgeon

Dr. Kingsley Chin

“I wanted to prove to myself that I could rise to the highest level of success.” Dr. Chin sits down with Ian Boyne to tell his story, from struggle to strength and success, and explains why he wants to be “the most successful businessman to ever come out of [his] home country in Jamaica.”

For the past 10 years, Dr. Kingsley R. Chin built a billion dollar portfolio of health and technology companies as the CEO and managing partner at KICVentures, an investment firm he co-founded in 2005. Dr. Chin is a Harvard trained orthopedic spine surgeon with business and information technology experience who sees a niche opportunity where medicine, business, and information technology meet, and is uniquely experienced at the intersection of these three professions.      Continue reading →

By guyaneseonline | Posted in Arts / Culture, Business, Caribbean news, Commentary, Economics/Finance, Education, Medical, Personalities, Philosophy, Technology | Also tagged , , , , , | Comments (4)

GUYANA: COVID-19: Nurses at three hospitals protest for better pay and working conditions

09/28/2020 – 12:20 am

Nurses’ industrial unrest breaking the law; President shrugs claims of unjustifiable spending

Nurses protesting in Georgetown

Demerara Waves-: By Denis Chabrol –  September 26, 2020

Over the past week, workers from the West Demerara Regional Hospital (WRDH), the Linden Hospital Complex (LHC) and the Georgetown Public Hospital (GPH) staged demonstrations to press their demands for frontline workers who are managing the national response to the COVID-19 pandemic. These demands range from better and more personal protective equipment to payment of overtime and risk allowances. Some have even threatened strike action.

Government says  nurses are violating the law governing essential unrest by taking industrial  unrest to press demands for more COVID-19 frontline allowances and other benefits.   

Continue reading →

By guyaneseonline | Posted in Government, Guyana, Health / Environment, Medical | Also tagged , , , , , , , | Comments (6)

Guyana, ExxonMobil about to ink Payara oil well approval

09/26/2020 – 12:15 am

— Hefty fines for flaring, dumping untreated water

Demerara Waves: Denis Chabrol i–September 25, 2020

Guyana is on the verge of signing an agreement with ExxonMobil for its Payara Development Plan that would provide for hefty fines for flaring and the dumping of untreated water back into the sea, Minister of Natural Resources Vickram Bharrat said Friday.

He told News-Talk Radio Guyana 103.1 FM/Demerara Waves Online News that the actual fines were still under discussion and would be ironed out before the draft agreement is approved by Cabinet and make way for its signing.

“We have managed to negotiate on a number of environmental issues…..flaring will carry a fine. Water will have to be treated to international standard before dumping. I think we have a better agreement than Liza,” he said.          Continue reading →

By guyaneseonline | Posted in Business, Government, Guyana, legal, Oil Exploration, Personalities | Also tagged , , , , , , , | Comments (7)

Guyana: Coronavirus hitting businesses hard – Cuban shoppers gone

03/25/2020 – 12:03 am

Posted by: Denis Chabrol – Demerara Waves –  March 24, 2020 

The COVID-19 impact on Shanta’s Puri Shop

Fears over the deadly Coronavirus (COVID-19) have been taking a toll on Guyana’s business sector as many of them have either closed or scaled back operations.

Many Chinese-run businesses in Guyana which depend on all-week shopping by Cuban traders, have closed their doors, so too are several local businesses and fast food enterprises. It is estimated that each Cuban comes to Guyana with at least US$3,000 to purchase clothing, electronic equipment and electrical appliances to take back to Cuba to sell.          Continue reading →

By guyaneseonline | Posted in Cuisine - Foods, Economics/Finance, Guyana, Health / Environment, Personalities, Politics | Also tagged , , | Comments (1)

ExxonMobil ups Guyana recoverable resources to more than 8 billion barrels, makes discovery at Uaru

01/27/2020 – 3:08 pm

Posted by: Denis Chabrol in – Demerara Waves – January 27, 2020

Oil discoveries, including dry holes and the latest, Uaru.

IRVING, Texas – ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 billion oil-equivalent barrels and made a further oil discovery northeast of the producing Liza field at the Uaru exploration well, the 16th discovery on the Stabroek Block.

The new recoverable resource estimate includes 15 discoveries offshore Guyana through year-end 2019. The Uaru discovery is the first of 2020 and will be added to the resource estimate at a later date.          Continue reading →

By guyaneseonline | Posted in Business, Government, Guyana, Oil Exploration, Personalities | Also tagged , , , | Comments (16)

Guyana: Pres. Granger commissions new power station in Bartica

12/30/2019 – 12:35 am
—  solar farm plans moving ahead

Posted by: Denis Chabrol in  Demerara Waves – December 28, 2019

The new Bartica Power Station.

President David Granger Saturday morning December 28, 2019 commissioned a US$3.4 million power station at Dogg Point, Agatash in Bartica, Cuyuni-Mazaruni (Region 7), where he noted that it will bring unprecedented relief to residents who have experienced severe power outages over the years.

The President in his address at a simple ceremony, said it is inconceivable that Guyana can be on a path of development and ignore the evolution of its hinterland communities.          Continue reading →

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ExxonMobil updates on oil exploration, local jobs and content at GIPEX 2019

11/21/2019 – 12:04 am

ExxonMobil oil exploration served up 1,700 Guyanese jobs, GYD$36 billion to local businesses; gov’t crafting Guyana local content policy

Posted by: Denis Chabrol in  Demerara Waves – November 20, 2019

ExxonMobil’s Senior Vice President Hunter Farris

ExxonMobil (Guyana) on Wednesday played up the local benefits of its operations in Guyana over the last few years, even as government’s Energy Department said it was crafting a local content policy that is relevant to Guyana.

Addressing the opening of the Guyana International Petroleum Business Summit & Exhibition (GIPEX-2019) at the Marriott Hotel, ExxonMobil’s Senior Vice President of Upstream Oil & Gas Company, Hunter Farris said so far more than 1,700 Guyanese or 50 percent of the 3,400 people in Guyana have worked in his company’s exploration and project activities directly.      Continue reading →

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