Yearly Archives: 2024

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Guyana exploring exportation of electricity to monetise resources – President Ali says Jun 22, 2024 News Kaieteur News – The Government of Guyana has contracted a U.S. firm, Fulcrum LNG to help monetize the country’s gas resources. A number of options are presently on the table for consideration and are pending a full technical and financial analysis, including the export of electricity. President Irfaan Ali addressing reporters during his press conference This was revealed by President Irfaan Ali on Thursday during a press conference at State House, Georgetown. He explained, “We recently concluded the expression of interest for a major gas project outside of the Wales development (Gas-to-Energy project). We had a company identified, that company with the Government of Guyana and Exxon and its partners will now have to have discussions and we will have to together arrive at a model and a plan as to how we will advance this major gas development in our country.” In January, the government invited proposals seeking private sector pitches for the design, financing, construction, and operation of gas infrastructure to support current and future upstream developments in Guyana. The Head of State was keen to note that the government has since assembled a technical team to participate in the discussions and draft a model for the utilization of the gas resources. President Ali anticipates a Heads of Agreement in this regard will be signed by next year. President Ali said, “What we want is the monetization of the gas as fast as possible to add an additional revenue stream and it’s not only gas, it’s the condensate that comes with it. For a matter of fact that has tremendous opportunity and potential for us but we can’t know that, we can’t know the degree of opportunity until the full analysis, technical (and) financial, is completed for us to know what we have.” To this end, he revealed that a number of possibilities are being examined, including the export of energy through the development of an energy corridor to Brazil and Suriname. In addition to that, he cited the marketing of by-products from the natural gas. Ali also hinted at the possibility of a second power plant to position the country as an exporter of electricity. “It also speaks about the development of a shore base facility, additional power plants that could be used for export of not only the gas, but power directly, so there are a number of opportunities that we think can be generated from this gas coming to shore or being processed but those are all things that will be examined in the conversation and then a viable option, the most competitive, cost effective, profitable option will be presented,” the Head of State explained. Presently, the GoG is pursuing a US$2B Gas-to-Energy (GTE) project. This is the country’s first natural gas project. It is expected to generate 300 megawatts of power and an additional 3,400 barrels of by-products daily. Project Head, Winston Brassington previously said the startup of this facility will provide the country with some 4,100 barrels of by-products daily – such as cooking gas and fuel for cigarettes – among others. Guyana however utilises approximately 700 barrels per day of these products, which means the country will have to seek markets for 3,400 barrels of byproducts each day or 1,241,000 barrels on an annual basis. Related Similar Articles

Israel pounds Gaza, killing dozens, as fighting rages Jun 22, 2024 News A woman and a girl react following an Israeli strike that hit a tent camp, amid the ongoing conflict between Israel and Hamas, in Al-Mawasi area in western Rafah, in the southern Gaza Strip, June 21, 2024. REUTERS/Mohammed Salem CAIRO, June 21 (Reuters) – Israeli forces pounded Rafah in southern Gaza on Friday, as well as other areas across the enclave, killing at least 45 Palestinians as troops engaged in close-quarter combat with Hamas militants, residents and Israel’s military said. Residents said the Israelis appeared to be trying to complete their capture of Rafah, which borders Egypt and has been the focus of an Israeli assault since early May. Tanks were forcing their way into the western and northern parts of the city, having already captured the east, south and centre. Firing from planes, tanks and ships off the coast caused more people to flee the city, which a few months ago was sheltering more than a million displaced people, most of whom have now relocated again. The Gaza health ministry said at least 25 Palestinians had been killed in Mawasi in western Rafah and 50 wounded. Palestinians said a tank shell hit a tent housing displaced families. “Two tanks climbed a hilltop overseeing Mawasi and they sent balls of fire that hit the tents of the poor people displaced in the area,” one resident told Reuters over a chat app. The Israeli military said that the incident was under review. “An initial inquiry conducted suggests that there is no indication that a strike was carried out by the IDF (Israel Defence Forces) in the Humanitarian Area in Al-Mawasi,” it said. Earlier, the military said its forces were conducting “precise, intelligence-based” actions in the Rafah area, where troops were involved in close-quarter combat and had located tunnels used by militants. Over the past week, the military said, troops targeted a university that served as a Hamas headquarters from which militants fired on soldiers and found weapons and barrel bombs. It did not name the university. In the central Gaza area of Nusseirat, the military said soldiers killed dozens of militants over the past week and found a weapons depot containing mortar bombs and military equipment belonging to Hamas. Some residents said the Israeli onslaught on Rafah had intensified in the previous two days and that the sounds of explosions and gunfire had hardly stopped. “Last night was one of the worst nights in western Rafah: Drones, planes, tanks, and naval boats bombarded the area. We feel the occupation is trying to complete the control of the city,” said Hatem, 45, reached by text message. “They are taking heavy strikes from the resistance fighters, which may be slowing them down.” STRIKES ON KHAN YOUNIS AND GAZA CITY More than eight months into the war in Gaza, Israel’s advance is now focused on the two last areas its forces had yet to seize: Rafah on Gaza’s southern edge and the area surrounding Deir al-Balah in the centre. “The entire city of Rafah is an area of Israeli military operations,” Ahmed Al-Sofi, the mayor of Rafah, said in a statement carried by Hamas media on Friday. “The city is living through a humanitarian catastrophe and people are dying inside their tents because of Israeli bombardment.” Sofi said no medical facility was functioning in the city, and that remaining residents and displaced families lacked the minimum daily needs of food and water. Palestinian and U.N. figures show that fewer than 100,000 people may have remained in the far western side of the city, which had been sheltering more than half of Gaza’s 2.3 million people before the Israeli assault began in early May. In nearby Khan Younis, an Israeli air strike on Friday killed three people, including a father and son, medics said. In parallel, Israeli forces continued a new push back into some Gaza City suburbs in the north of the enclave, where they fought with Hamas-led militants. On Friday, an Israeli air strike on a Gaza City municipal facility killed five people, including four municipal workers, the territory’s Civil Emergency Service said. Rescue teams were searching the rubble for more missing victims. In the nearby Beach camp, an Israeli air strike on a house killed at least seven people, medics said. Palestinian health officials said at least 45 Palestinians were killed in Israeli strikes across Gaza on Friday. The International Committee of the Red Cross (ICRC) said its Gaza office was damaged when heavy-calibre projectiles landed nearby, in an area where hundreds of displaced Palestinians are living in tents. “This grave security incident is one of several in recent days; previously stray bullets have reached ICRC structures,” the organization said in a post on X on Friday. “We decry these incidents that put the lives of humanitarians and civilians at risk.” Israel’s ground and air campaign was triggered when Hamas-led militants stormed into southern Israel on Oct. 7, killing around 1,200 people and seizing more than 250 hostages, according to Israeli tallies. The offensive has left Gaza in ruins, killed more than 37,400 people, according to Palestinian health authorities, and left nearly the entire population homeless and destitute. The United Nations said on Friday it is Israel’s responsibility – as the occupying power in the Gaza Strip – to restore public order and safety in the Palestinian territory so humanitarian aid can be delivered, amid warnings of imminent famine. Related Similar Articles

Teachers’ strike ends as Union, MoE agree on Terms of Resumption Jun 22, 2024 News President of the Guyana Teachers’ Union, Dr. Mark Lyte shakes hands with Permanent Secretary in the Ministry of Education, Shannielle Hoosein-Outar after the signing of the Terms of Resumption on Friday as another person looks on. Kaieteur News – The Guyana Teachers’ Union (GTU) on Friday agreed to end the ongoing teachers’ strike and return to the classroom on Tuesday. The Union and the Ministry of Education reached an agreement on the Terms of Resumption. Further, it was agreed that conciliation will begin on Wednesday to address the Union’s multi-year agreement, President of the GTU Dr. Mark Lyte announced on his social media. Among the terms of agreement are that there shall be an end to the strike and full resumption of work by all teachers/educators within two working days; There shall be no victimization by either party; There shall be no loss of service for any teachers/educators; Teachers/educators will return to their respective positions held before the strike; There shall be no transfers upon resumption; That the status quo ante shall prevail subject to any ruling which may emanate from extant legal proceedings between the two parties; Upon the full resumption of work by teachers/educators, conciliation will commence forthwith to determine whether the timeframe proposed by GTU, 2019-2023 or MOE 2024 and onwards should form part of a new multi-year agreement and that both parties shall conduct discussions in accordance with the existing 1990. “I am here to make a very short statement and to provide an update to the membership of the GTU. First of all let me say that this has been a very difficult time for all of us not only the executives of the Union but for teachers and educators across Guyana. So when no one else stood, any other Union stood for its members like we did resolutely over the last 70 odd days,” the GTU President said during his live statement on Facebook. He thanked all teachers who supported the strike and noted that the decision to sign the terms of resumption was taken “through fresh country wide consultation.” Lyte explained that teachers from all three counties, though not 100 percent representative of all striking teachers, believed that the best option currently is to return to work and allow for the grievance procedure to take precedent. “Hence you see number eight clearly inked that the Union will allow the grievance procedure as signed in 1990 to be the basis of our negotiations going forward and so on Wednesday, the 26th will be the first set of engagements coming out of these discussions. We will meet with the Ministry to commence the process of conciliation on Wednesday,” he said. Furthermore, Dr. Lyte said that the GTU tried its best to get the government to agree to interim payments or cash grants as part of the terms of resumption. However, he disclosed that the government made it clear Friday’s meeting did not form part of the conciliation or pre-term process. “Government clearly declared that is not (a) part of the conciliation or the pre-term process. We tried to push that it did not work and as a Union, we took a decision in the interest of our teachers who are concerned about what would happen in the August term, who are concerned about what would happen in other facets of their lives,” he said. Meanwhile, the Ministry of Education in a separate statement on its Facebook Page expressed pleasure at the resumption of duties of teachers countrywide. The Education Ministry had reached out to the Labour Ministry on May 12, 2024 for assistance to mediate in the ongoing discussions with the GTU after there was a breakdown in negotiations between the Ministry and the GTU regarding the question of which years the new multi-year agreement should address. “The request was made pursuant to the provisions of the 1990 Memorandum of Agreement “the avoidance and settlement of disputes” between the Government of Guyana and the Guyana Teachers’ Union and the Labour Act, Cap. 98:01, which allows the impasse in respect of the timeframe to be referred to the Labour Minister for Conciliation. A meeting was held on Monday, June 13, 2024 at the Ministry of Labour and was mediated by the Chief Labour Officer,” the ministry said. Additionally, there were a number of meetings held over the last few weeks and which saw the GTU demanding a 20 percent increase across the board before resuming the conciliation talks. However, the Ministry had rejected that claim as abnormal in the circumstances and an attempt to place the ministry under duress. Meanwhile, Minister of Education, Priya Manickchand, thanked the Ministry of Labour and specifically the Chief Labour Officer for its intervention. Related Similar Articles

Oil companies fight over Stabroek Block stalled as arbitration panel not completed – Reuters Jun 22, 2024 News Guyana’s Stabroek Block Kaieteur News – A contract arbitration panel that could block or green-light the US$53 billion sale of Hess Corp to Chevron remains incomplete three months after the case was filed, stalling a decision on whether Exxon Mobil has a right of first refusal over Hess’ Guyana operations. The third and final arbitrator has not been appointed, according to people familiar with the matter. A delay could mean no decision this year as Hess has forecast. Uncertainty on whether the sale can proceed has pressured Chevron shares, which are down 7.8% since the deal was disclosed. Each side in the dispute appoints one arbitrator and those two nominate the third, according to the people. The International Chamber of Commerce (ICC), parent of the arbitration panel, did not reply to requests for comment on the timeline for appointing the third arbitrator or for deciding the case. Hess said “the arbitration is moving forward and we expect to have a decision by the end of 2024.” But lawyers who have been involved with international arbitrations say timing varies for such decisions. “The precise dynamics … will depend upon the rules of the arbitration,” said Chris Strong, a partner at Vinson & Elkins law firm and also vice-president for model contracts of the Association of International Energy Negotiators. Generally, he said, if two arbitrators “are unable to agree on a third arbitrator within a certain period of time, they can apply to the administering authority, if there is one”. “The market is hoping that there is a speedy settlement to the arbitration process, but has never understood properly what Exxon is trying to achieve,” said Mark Kelly, an analyst with financial firm MKP Advisors. “It is widely believed that Exxon has never communicated this to even Chevron or Hess.” Chevron originally hoped to close the Hess acquisition by the first half of this year. Hess shareholders last month backed the proposed sale by a slim, 51% majority. The U.S. Federal Trade Commission has yet to weigh in on any antitrust questions. The deal would give Chevron a 30% stake in a Guyana oil consortium that has found at least 11 billion barrels of oil and continues to plumb a 6.6 million-acre (26,800 sq km) block. The group has forecast output of 1.3 million barrels per day by 2027. Chevron, Exxon and Hess declined to estimate timing of an appointment to the panel, which will consider Exxon’s claim that Chevron is trying to circumvent its preemption right included in the Guyana oil consortium’s joint operating agreement (JOA). Exxon is the group’s majority owner with 45%, Hess has a 30% stake and CNOOC 25%. Chevron said Exxon’s right of first refusal does not apply to a sale of the entire Hess company. Exxon and Hess have declined to comment on the precise language of the JOA, a confidential document. In April, Hess said it wants the case heard by the third quarter and arbitration completed by year end. On May 9, Hess CEO John Hess asserted the final arbitrator would be appointed by May 17, according to proxy adviser Institutional Shareholder Services. Exxon CEO, Darren Woods has said he expected the dispute would slip into 2025. Exxon executives have been saying the arbitrators should consider the “intent” behind the JOA made with its original partner in Guyana, Shell PLC, which sold its stake before oil was discovered there in 2015. “We wrote the JOA, so we have a pretty clear line of sightness to the intent and the circumstances that apply,” CEO Woods said after first quarter earnings, on April 28. “That is the point of the arbitration.” The intent was key in a 2017 right of first refusal case in which Exxon was targeted in Canada by energy firm Northrock Resources, says Mohamed Amery, a partner at Canadian law firm Linmac LLP. Exxon ultimately won the right to sell those assets. “When the court looks at the interpretation of a clause within a contract, it doesn’t read it in its black and white, it looks to what the discussions were between the parties,” Avery said. Exxon said the JOA it made on the Guyana assets was based on an industry model but declined to specify which model. Most of the industry used the 2002 model from the Association of International Energy Negotiators as a base, with some altered provisions, said Strong. Different valuations of the Guyana asset could play a role if Exxon prices Hess Guyana stake above the US$53 billion offered by Chevron for Hess Corp. The parties declined to disclose their valuations. Generally speaking, the question of right of first refusal “hinges on the specific wording of the JOA and on the value of the asset in relation to the larger change of control transaction,” said Strong. Related Similar Articles

Woman walks in store to buy birthday outfit, walks out with stolen panties and fake nails Jun 22, 2024 News A screen grab from the CCTV footage showing the suspect stealing underwear from Anna’s Trendz Boutique & Toy Store Kaieteur News – A woman was caught on Closed Circuit Television (CCTV) footage on Thursday, posing as a customer who wanted to purchase a birthday outfit, but left the store with stolen underwear and a press on nails set from Anna’s Trendz Boutique & Toy Store located on Camp and D’Urban Streets. The woman is also accused of stealing $40,000 from T&H Boutique, located at Lot 3 Norton Street, Georgetown on the same day. During an interview with Kaieteur News, 33-year-old Anna Hamilton, the owner of Anna’s Trendz Boutique & Toy Store said she recently gave birth and has not been at her business for a few days but her step-son has been managing the store in her absence. According to the CCTV footage time stamp, the incident occurred at about 12:56hrs. Hamilton told Kaieteur News that the accused reportedly told her step-son that she wanted an outfit for her birthday. Following her request, he assisted her in finding one. “She came (and) she look for a dress on the mannequin and she did her best to distract him, (she) took a dress off the mannequin and handed it to him for him to bag it, as he was bagging it, she went around doing she own thing,” Hamilton said. Suspicions arose when Hamilton realized that her step-son dealt with the suspect for a while. As such, she reviewed her cameras which were placed at the center of the store, and saw that the woman stole a press on nails set, whilst she was exiting the boutique. As a result, Hamilton reviewed the footage for the duration of the period the woman was in the store. “I see she going around and then she pick up the hanger with the underwears and she put it in her bag.” The owner described the woman as a “professional thief”. “This young lady is a pro, she does look innocent and simple but she is a pro,” the business owner told Kaieteur News. Meanwhile, earlier on Thursday around 11:51hrs, the suspect also stole from T&H Boutique located at Lot 3 Norton Street, Georgetown. Tiffany (only name given), the owner of the T&H Boutique told this publication that the woman allegedly stole $38,000 from the store’s cash register, and $2000 from her hand bag that was on a chair behind the counter. Tiffany revealed that the suspect distracted her and a staff by indicating to them that she (suspect) wanted a birthday outfit. “I asked her if she had anything particular in mind and she said no, my staff then proceeded to show her all the birthday fits we had in (the) store (over 20 different fits) she said she didn’t like any,” Tiffany said, who even recommended two other boutiques. Tiffany said, “She (suspect) then claimed she wanted to purchase one of the fits she didn’t like and asked my staff to package it.” The owner then highlighted that the suspect distracted her by asking to see a jersey that was at the back of the store. “I got up and went to look for her size while my staff was at the counter packaging her item.” Tiffany then said, that the woman reportedly requested another item, which was at the center of the store. “As soon as she (the staff) went to get that item, she (suspect) quickly swiped the money from the draw,” Tiffany claimed. She also indicated that $2000 was taken from her bag. Tiffany told Kaieteur News that after the woman removed the items, she told the staff “I’m going to check around and come back if I don’t find anything else.” Tiffany said, “Immediately after she left, I noticed the draw was slightly open and when I checked, the money was gone.” The entrepreneur said that moments after that incident occurred, she saw a Facebook post about the suspect doing the same thing at Anna’s Trendz Boutique & Toy store. Tiffany has since filed a report at the Brickdam Police Station. Related Similar Articles

Mining Association concerned about hints of removal of concessions Jun 22, 2024 News Kaieteur News – The Guyana Gold and Diamond Miners Association (GGDMA) on Friday raised concerns about statements made by Vice President (VP) Bharrat Jagdeo relative to the removal of mining incentives. The Vice President told reporters at his last press conference that in a move to combat rampant gold smuggling, the government will be conducting a comprehensive legal overhaul of the system aimed at imposing stringent penalties on large-scale gold smugglers. He had expressed disappointment that despite all the incentives government implemented for the mining industry, smuggling is still rampant. “We have lowered the taxes so that they can have a better environment but still no compliance because the rewards of smuggling seem to be greater, the foregone tax revenue seems to be a big incentive,” Jagdeo said. He continued, “We have to take away that incentive now by putting a regime of penalties and sanctions if you get caught smuggling the large quantity of gold…I’m talking about these smugglers who have been smuggling at this magnitude,” Jagdeo said. The Vice President had made the statement while speaking on the sanctions imposed by the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed on Guyanese billionaire Nazar Mohamed and his son Azruddin Mohamed for allege corruption – including gold smuggling and evading taxes. The OFAC sanctions were announced on June 11. However, in its statement, the Mining Association said, “The GGDMA notes with much consternation hints of the removal of certain incentives and concessions that the GGDMA has fought for on behalf of the industry. We urge the authorities not to give in to this knee jerk reaction and to “throw out the baby with the bathwater” as this would be unacceptable.” The Association said too that its position has always been anti-smuggling and welcomes this disclosure and the Government of Guyana’s commitment to pursue a full investigation into the matter and prosecute those involved. The body stated too that it has always urged members to sell only to licensed dealers or the Guyana Gold Board (GGB). It said that the gold mining industry has a long history in Guyana and has been a pillar for the economy long before oil was discovered, underscoring that miners have stood with Guyana and the industry has persevered through all the ups and downs of Guyana’s economic growth. To this end, the GGDMA urged the government not to use the recent disclosure by the United States as a “broad brush” to paint all miners as smugglers. “The majority of miners are not engaged in smuggling. They are in the business of mining and have worked hard for their place in society,” the body said.  Notably, the Mining Association said that there are smugglers in the midst of the industry, and vowed to continue to support the government to root them out. Notwithstanding, the GGDMA said, “The GGDMA notes with much consternation hints of the removal of certain incentives and concessions that the GGDMA has fought for on behalf of the industry. We urge the authorities not to give in to this knee jerk reaction and to “throw out the baby with the bathwater” as this would be unacceptable.” According to the OFAC, the Mohameds allegedly evaded tax on gold exports and defrauded the Guyanese government of tax revenues by under declaring their gold exports to Guyanese authorities. “Between 2019 and 2023, Mohamed’s Enterprise omitted more than 10 thousand kilograms of gold from import and export declarations and avoided paying more than US$50 million in duty taxes to the Government of Guyana,” the US Treasury alleged. Additionally, according to the GGDMA, there was a great fight to get concessions which have helped bolster the industry through the many tough times. “It would be grossly irresponsible to hold the actions of a few against the majority of miners,” GGDMA said. Moreover, the Association noted that due to the massive labour shortages at all levels in the sector, legitimate operators are also suffering from low production due to their inability to run as many operations. Consequently, it was stated that the total production of gold from the miners who are selling to legitimate channels has also been greatly diminished. “Benefits to these compliant organizations should not be taken away,” GGDMA added. To this end, the Association reiterated its call for the government to address frontally the issue of smuggling and to take the U.S. report as a launching pad to prosecute the bad actors in the industry. GGDMA also encouraged all miners to sell their gold to the GGB or to Licensed Gold Dealers. Miners were also reminded that they should ensure that proper documentation and a periodic statement of their transactions are received from the Licensed Gold Dealer to be presented to the GGB. It was underscored that the verification is important since it will ensure that gold is properly accounted for and that taxes are being correctly paid to the Government. Related Similar Articles