Carib Scope

分类： business

  • TotalEnergies to shoot 3D seismic survey in Guyana shallow water block

    TotalEnergies to shoot 3D seismic survey in Guyana shallow water block

    TotalEnergies, in collaboration with a consortium including Qatar Energy and Petronas, has announced a significant investment of at least $20 million to conduct a 3D seismic survey in the S4 shallow water block offshore Guyana. The project, set to commence in late 2026, will span approximately 1,800 square kilometers and is expected to last at least six months. This initiative follows the signing of a five-year petroleum exploration agreement with the Guyanese government, marking a pivotal step in the region’s oil and gas exploration efforts.

    Daniel Larranaga, TotalEnergies’ Vice President of Exploration in the Americas, emphasized the potential impact of the survey, stating that it could lead to significant discoveries and further exploration activities. The S4 block, located off the coast of Demerara, has been a focal point for TotalEnergies since its initial exploration efforts 35 years ago. Larranaga expressed optimism about the block’s geological prospects, noting that while it differs from deep-water plays, it holds considerable potential.

    The consortium is awaiting final contractual arrangements and permits, which Larranaga anticipates will be expedited compared to industry standards. The selection of the company to conduct the seismic study remains undecided. Additionally, the project will be integrated with TotalEnergies’ ongoing offshore operations in Suriname’s GranMorgu production facility, currently under construction.

    In line with local content provisions, the consortium has committed to engaging in social projects and hiring local contractors and personnel. The agreement also includes a $15 million signature bonus, exceeding the stipulated $10 million, which will be directly deposited into Guyana’s Natural Resources Fund. Minister of Natural Resources Vickram Bharrat highlighted the transparency of the agreement, which will be publicly accessible on the ministry’s website.

    Guyana, currently producing over 900,000 barrels of oil per day, continues to attract significant investment in its burgeoning oil and gas sector, positioning itself as a key player in the global energy market.

  • Grenada launches Caribbean’s first Blue Economy Action Lab

    Grenada launches Caribbean’s first Blue Economy Action Lab

    Grenada has taken a groundbreaking step in advancing its blue economy by hosting the first-ever Blue Economy Action Lab. This innovative event brought together entrepreneurs, policymakers, and investors to transform ideas into actionable projects within a 90-day timeframe. The initiative, spearheaded by Island Innovators, aimed to move beyond theoretical discussions and focus on tangible outcomes that address the Caribbean’s unique challenges. Participants, including marine entrepreneurs, tourism operators, and data scientists, collaborated on pilot projects centered around three key themes: waste-to-value solutions, circular blue tourism, and coastal resilience. The event culminated in the formation of ‘Doers’ Circles,’ cross-sector working groups committed to delivering High-Impact Action Declarations (HIADs) under each theme. Notable attendees included sustainability leaders such as Crystal Young, Chad Fraser, and Benjamin Nestorovic, who highlighted the potential of Grenada’s marine resources to drive economic growth, job creation, and environmental health. Island Innovators will support these teams through a 90-day pilot program, providing mentorship, technical guidance, and accountability via an Impact Dashboard. The success of this inaugural event has paved the way for future Action Labs across sectors like technology, health, and the creative economy, with a focus on emerging opportunities such as marine biotechnology and coastal data mapping. Dr. Angus Friday, Advisor to Island Innovators, described the event as the beginning of a movement, emphasizing the Caribbean’s ability to turn potential into probability through structured collaboration and support.

  • Republic Bank (Grenada) Limited: Notice of Record Date

    Republic Bank (Grenada) Limited: Notice of Record Date

    Republic Bank (Grenada) Limited has officially announced that its Board of Directors has designated Wednesday, November 19, 2025, as the Record Date. This critical date marks the cutoff for determining which shareholders are eligible to participate in upcoming corporate actions, such as dividend distributions or voting rights at the annual meeting. The announcement underscores the bank’s commitment to transparency and adherence to corporate governance standards. Shareholders are advised to ensure their records are up-to-date to avoid any discrepancies. Republic Bank (Grenada) Limited continues to prioritize the interests of its stakeholders, reinforcing its reputation as a reliable financial institution in the region. For further inquiries or to report any concerns, shareholders are encouraged to contact the bank directly.

  • China Import Expo boosts global cooperation

    China Import Expo boosts global cooperation

    The 2023 China International Import Expo (CIIE), held in Shanghai from November 5 to 10, marked a significant milestone in global trade and economic collaboration. Foreign Ministry Spokesperson Lin Jian emphasized the event’s unprecedented scale, with participation from 155 countries, regions, and international organizations. Notably, 290 Fortune 500 companies and industry leaders showcased their latest innovations, reflecting the expo’s growing influence as a platform for international business engagement. Lin highlighted that the number of foreign exhibitors surged by over 600 compared to the previous edition, with 170 companies and 27 international institutions consistently attending all eight editions of the event. A total of 461 groundbreaking products, technologies, and services were unveiled, including more than 200 global premieres. The expo also facilitated intentional deals worth over $834 billion, underscoring its role as a catalyst for economic growth. Premier Li Qiang, in his address, reiterated the importance of fostering global cooperation and sharing opportunities with the international community. With over 4,100 foreign companies participating, this year’s CIIE solidified its position as a cornerstone of international trade and innovation.

  • NFM profits rise to $39.7m in Q3

    NFM profits rise to $39.7m in Q3

    National Flour Mills (NFM) has announced a robust profit after tax of $39 million for the third quarter ending September 30, marking a significant achievement in a challenging global economic landscape. The company’s revenue also saw a notable increase, rising to $401 million from $386 million during the same period last year. This growth comes despite ongoing trade uncertainties and heightened geopolitical risks that have disrupted supply chains worldwide.

  • CB Foods reports disruption in egg supply following Hurricane Melissa

    CB Foods reports disruption in egg supply following Hurricane Melissa

    KINGSTON, Jamaica — CB Foods, a leading food supplier, has revealed a significant disruption in its egg supply chain following extensive damage to its Bamboo, St Ann egg farm caused by Hurricane Melissa. The company issued a statement expressing solidarity with those affected by the storm, acknowledging the widespread challenges faced by the community and its own workforce.

  • InterEnergy to rebuild solar park

    InterEnergy to rebuild solar park

    KINGSTON, Jamaica — In the aftermath of the devastating Category Five Hurricane Melissa, InterEnergy Group has pledged to reconstruct the 52-megawatt (MW) Eight Rivers Solar Park in Westmoreland, which suffered extensive damage. The company has unveiled a detailed reconstruction strategy aimed at restoring the solar park’s energy generation capabilities, enhancing its resilience against future extreme weather events, and supporting Jamaica’s broader energy recovery efforts.

    Rolando González Bunster, Chairman and CEO of InterEnergy Group, emphasized the company’s dedication to the people and communities it serves. ‘In Jamaica, we have seen remarkable resilience in the face of adversity. We are determined to support the nation’s recovery through tangible actions,’ he stated. ‘The reconstruction of the Eight Rivers Solar Park will prioritize strength, safety, and sustainability, reaffirming our commitment to Jamaica’s and the Caribbean’s energy future.’

    Despite the hurricane’s destructive impact, InterEnergy’s thermal power plants—Doctor Bird I and II, West Kingston Power Partners (WKPP), and Jamaica Private Power Company (JPPC)—remain operational, supplying 250 MW of uninterrupted power to the national grid. Additionally, the company is assessing its wind farm in St Elizabeth, with plans to resume operations once safety conditions are met.

    As part of its humanitarian response, InterEnergy has coordinated the arrival of the International Medical Relief (IMR) team to Jamaica. IMR, a nonprofit organization dedicated to providing medical care and support to vulnerable populations globally, will offer critical assistance. The company has also cleared vital access roads in Westmoreland to facilitate the delivery of relief supplies, initiated a nationwide donation campaign, and prepared 4,000 care packages for distribution to the most affected communities in western Jamaica.

    Dr. Wayne McKenzie, Country Manager of InterEnergy Jamaica, highlighted the broader mission of the recovery efforts. ‘Hurricane Melissa has left profound devastation, particularly in western Jamaica. Recovery is not just about restoring power but also restoring hope. Our teams are working tirelessly to clear access routes, organize relief logistics, and provide essential care packages to families in need. We remain steadfast in our commitment to helping Jamaica rebuild stronger,’ he said.

  • ‘It’s not a good picture’

    ‘It’s not a good picture’

    Jamaican Teas Limited is grappling with a significant downturn in its US market sales, a critical revenue stream for the company. CEO John Mahfood identified a ‘triple threat’ of challenges impacting consumer spending among the Caribbean Diaspora: increased tariffs, heightened immigration enforcement, and the suspension of food stamp payments. These factors have collectively dampened sales in key states like New York and Florida.

  • TJH in $3.8-m storm toll talks

    TJH in $3.8-m storm toll talks

    As Jamaica assesses the economic fallout from Hurricane Melissa, TransJamaican Highway Limited (TJH) has initiated discussions with the government to address the significant revenue loss incurred during a 15-day toll suspension. The suspension, mandated by Transport Minister Daryl Vaz as the hurricane approached, resulted in an estimated $3.8 million loss for TJH, based on its average daily revenue of $254,000. Despite this setback, TJH reported a 27% increase in third-quarter net profit, reaching $10.3 million, highlighting the financial impact of the temporary halt.

  • CAL is TT Chamber’s 2025 TT Owned Company of the Year

    CAL is TT Chamber’s 2025 TT Owned Company of the Year

    Caribbean Airlines Ltd (CAL), the state-owned carrier of Trinidad and Tobago, has been honored with the 2025 Internationally Known T&T Owned Company of the Year Award. This prestigious accolade, sponsored by the Ministry of Trade, Investment and Tourism, was announced during the TT Chamber’s Champions of Business: True Stories series, available on the chamber’s YouTube page. CAL emerged victorious among a competitive field of nominees, recognized for its significant contributions to the nation and its impressive international business expansion. The award criteria emphasize corporate excellence, innovation, and global competitiveness, celebrating companies that have established a strong regional or international presence with plans for sustained growth. Past recipients of this award include notable names such as Chief Brand Products, Carib Brewery Ltd, KC Confectionery Ltd, and Associated Brands Industries Ltd. CAL’s dedication to exceptional service, its expansion across regional and international routes, and its role in promoting Trinidad and Tobago’s brand globally were key factors in its selection. Kiran Maharaj, producer of Champions of Business and the chamber’s immediate past president, praised CAL, stating, ‘Caribbean Airlines has become more than a carrier; it is the wings of our region, connecting families, cultures, and nations across 27 destinations in the Caribbean, North and South America.’ The airline’s achievements will be formally celebrated at the Champions of Business Awards gala on November 13 at the Hyatt Regency Trinidad in Port of Spain. Now in its 20th year, the awards continue to highlight the innovation, leadership, and legacy-building efforts that shape Trinidad and Tobago’s business landscape.