Tag Archives: economy

GUYANA: The Bright Century Beckons: But What’s In It For Me, And When? – By Ralph Ramkarran

02/23/2022 – 12:30 am

– By Ralph Ramkarran – February 19, 2022 Conversation Tree Blog

The spectacular possibilities that await Guyana were revealed at the recently concluded Oil & Gas conference. Government spokespersons, led by President Irfaan Ali, Prime Minister Mark Phillips and Vice President Bharrat Jagdeo, and other officials, revealed plans, set out priorities and declared objectives. The head of Exxon talked about the possibilities of the oil industry and its growing potential. Not only will production increase but discoveries will multiply. The official estimate of reserves is 10 billion barrels, the unofficial 13. Guyanese can begin to think realistically of a potential of 20 billion and hope for 30 billion.

This was a conference to encourage investment and investors were represented. But the Heads of Government who attended – from Barbados, Suriname and Ghana – spoke about the interests of the Guyanese people. Even though Guyanese leaders did so as well, it was clear that uppermost in the minds of conference participants was investment opportunities, and not wages and working conditions for the jobs that would be created.           Continue reading →

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Guyana: Why Has the Economy Been In Shackles Since Colonial Times – By Ralph Ramkarran

11/02/2021 – 12:06 am

 CONVERSATION TREE BLOG – Posted by Ralph Ramkarran  – 

Guyana’s is and has always been a primary producer. During its years of Independence, although there was some economic growth, Guyana was unable to significantly diversify its economy by, firstly, adding value to what it produced and, secondly, advancing the process of industrialisation.

Apart from political instability and consequential factors, the absence of an adequate and cheap supply of electricity was the major obstacle inhibiting such development. For a decade and a half beginning in 1957, Guyana saw the construction of a bauxite smelter as a way of triggering and, thereafter, advancing industrial development. Both parties struggled mightily to access foreign aid for projects to increase the supply of electricity. From Tiger Hill to Mazaruni, both failed.      Continue reading →

By guyaneseonline | Posted in alternate energy, Business, Commentary, Geography, Guyana, History, International News, Technology | Also tagged , , , , , , , , , , , , , , , | Comments (4)

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 →

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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: 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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Guyana can learn global oil industry standards from TT– Energy Chamber of Trinidad Tobago assures

10/17/2019 – 12:34 am

  —“No, Trinidadian companies are not coming to take over”; 

Posted by: Denis Chabrol in Demerara Waves – October 16, 2019

ECTT CEO, Dr Thackwray Driver

The Energy Chamber of Trinidad and Tobago (ECTT) on Wednesday sought to dispel concerns that businesses from that twin-island Caribbean Community (CARICOM) member state are coming to Guyana to dominate the oil sector, instead saying that they are grasping business opportunities hinged on 100 years of experience and international safety standards.

ECTT Chief Executive Officer, Dr Thackwray Driver rubbished claims by sections of Guyana’s business community that Trinidadians are coming here in droves to take over the oil sector.    Continue reading →

By guyaneseonline | Posted in Business, Caribbean news, Governance, Government, Guyana, Guyana infrastructure, Oil Exploration, Personalities | Also tagged , , , , , , , , | Comments (8)

OPINION: Five years to real oil prosperity in Guyana could be an eternity – by GHK Lall

10/17/2019 – 12:18 am

Posted by: Denis Chabrol in Demerara Waves  October 16, 2019

  by GHK Lall
Five years to 2025, according to the Hon. Minister of Finance. That is how long before the oil money would start coming in, the real meaningful money. The money that, if honestly and wisely (prudent is the word) used, could make a world of difference for Guyanese. Every single citizen. I can only agree with anyone, who harbors such a vision, and who then removes all obstacles that may prevent that from being reality. Remember: every citizen. Some cautions first.

Continue reading →

By guyaneseonline | Posted in Economics/Finance, Government, Guyana, Oil Exploration, Personalities, Politics, Technology | Also tagged , , , , , , | Comments (1)

“APNU is not against cash grants” from oil revenues but more information needed – Granger

10/10/2019 – 10:30 am

— WPA ready to negotiate modified proposal

Posted by: Denis Chabrol in -Demerara Waves  October 9, 2019

President David Granger

President David Granger on Wednesday sought to dispel concerns that he is opposed to direct cash transfer of some oil revenues to Guyanese, even as the Working People’s Alliance (WPA) signaled that it was ready to modify its proposal with other political parties in A Partnership for National Unity (APNU) whenever those talks begin.

“There has been a lot of speculation and we ask that people put figures to their intention before we make any public discussion but the APNU is not against cash grants. It needs to know more so it can make a proper announcement to the people of Guyana,” the President said.              Continue reading →

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Guyana Politics: PPP virtually endorses WPA’s cash transfers to poor: Hinds warns APNU of losing votes

10/04/2019 – 10:04 am

Posted by: Denis Chabrol in Demerara Waves – October 3, 2019

Oil rig

The opposition People’s Progressive Party (PPP) on Thursday virtually endorsed the Working People’s Alliance’s (WPA) proposal of direct cash transfer of some projected oil revenues, but preferring to target the poor and needy instead of all just over 200,000 households across Guyana.

“In fact, in our manifesto, we are going to be talking about conditional transfers, targeted transfers to vulnerable groups right at the beginning. We have to help single parents, we have to help children, we have to help the older people first and as our capacity grows and we get more money – we constantly have to see that it’s sustainable though.          Continue reading →

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