标签： Guyana

Eco Atlantic Oil & Gas has indicated that the recent sanctioning of the Hammerhead project by ExxonMobil could pave the way for significant heavy oil development offshore Guyana. The US$6.8 billion seventh phase of the Stabroek block has demonstrated the economic viability of heavy oil extraction, according to Eco Atlantic’s President and CEO, Gil Holzman. In an interview, Holzman emphasized that this development has prompted a reevaluation of the Jethro-1 discovery, which holds an estimated 1 billion barrels of oil, located in the neighboring Orinduik block where Eco Atlantic holds a 100% working interest. The company is now in discussions with the Guyanese government to potentially revisit the non-commercialization notice issued by Tullow, the previous operator of Orinduik. Holzman also noted that the extended farmout process for Orinduik was influenced by the shift in focus from light Cretaceous oil to heavy oil development. Additionally, Eco Atlantic maintains a stake in the Canje block, which borders Stabroek, further solidifying its presence in Guyana’s burgeoning oil sector.

Former Natural Resources Minister Raphael Trotman has disclosed that the United States Federal Bureau of Investigations (FBI) shared critical intelligence on gold smuggling activities with Guyana’s APNU+AFC administration. Trotman confirmed that prominent gold dealers, including Azruddin Mohamed and his father Nazar “Shell” Mohamed, were flagged in these investigations, though they were not the primary focus at the time. The US authorities were primarily concerned about the proceeds of Guyana’s gold being used to undermine US national interests, rather than violations of Guyanese laws. Trotman emphasized that the briefings were highly confidential and did not involve specific requests for action from the Guyanese government. He also highlighted the APNU+AFC’s efforts to combat gold smuggling, citing a significant increase in gold declarations between 2015 and 2020. However, annual gold declarations have declined since 2020, influenced by factors such as weather conditions, taxation policies, and fluctuating international gold prices. Vice President Bharrat Jagdeo has recently called for a comprehensive investigation into the alleged involvement of government officials in gold smuggling, with the Guyana Revenue Authority and the Guyana Police Force leading the probe. The US Treasury Department’s Office of Foreign Assets Control (OFAC) has already sanctioned the Mohameds for allegedly evading over $50 million in taxes and bribing government officials to facilitate illicit gold shipments. Despite these allegations, no Guyanese government officials have been charged in connection with the case.

In a landmark development for Guyana’s agricultural sector, the National Milling Company of Guyana (NAMILCO), an American-owned entity, has unveiled plans to invest GY$10 billion in expanding its flour production capabilities. The investment includes the construction of a state-of-the-art processing mill, enhanced wheat storage facilities, and an upgraded wharf to meet both domestic and export demands. The announcement was made during a meeting between NAMILCO executives and Guyana’s President Dr. Irfaan Ali, alongside key government officials. The project, set to commence in early 2026 and operational by 2027, aims to bolster Guyana’s agri-industrial development and contribute to regional food security. Additionally, NAMILCO is collaborating with the Guyanese government to explore the commercialization of cassava flour, a move designed to diversify the country’s flour offerings and enhance agricultural innovation. This initiative aligns with the Food and Agriculture Organization’s (FAO) recommendations on cassava as a strategic crop for food security. The company also highlighted plans to create significant employment opportunities and introduce advanced training programs to develop local expertise in milling operations. Beyond flour production, NAMILCO’s parent company, Seaboard Corporation, is evaluating opportunities in integrated pork production and liquefied natural gas (LNG) distribution, signaling a broader commitment to Guyana’s economic growth. This investment builds on the success of NAMILCO’s Mixing Plant, inaugurated in 2023, which marked a significant step in value-added food production in Guyana. Seaboard Corporation, a Fortune 500 company, continues to reinforce its legacy of driving sustainable growth and food security through strategic investments and partnerships.

In a recent revelation, Gabriel Lall, the former Chairman of the Guyana Gold Board (GGB), disclosed that the United States Embassy had provided a dossier containing names and photographs of individuals suspected of gold smuggling and other criminal activities. Lall, an American citizen who returned to Guyana, stated that he received the file during his tenure and promptly shared it with then Natural Resources Minister Raphael Trotman. The dossier reportedly included around 40 names, none of which were identified as Azruddin Mohamed or his father Nazar ‘Shell’ Mohamed, prominent figures in Guyana’s gold industry. Lall emphasized that the information was shared confidentially and did not contain definitive evidence of gold smuggling, which is why the police were not involved. He also noted that the GGB lacked specific intelligence on gold smuggling operations, relying instead on rumors and speculation. Lall expressed support for a comprehensive investigation into alleged gold smuggling, urging the involvement of the US Federal Bureau of Investigations (FBI) to ensure credibility. He also criticized Vice President Bharrat Jagdeo for singling him out for potential investigation, calling it political persecution. The Mohameds were previously sanctioned by the US Office of Foreign Assets Control (OFAC) in June 2024 for allegedly evading over $50 million in taxes on gold exports. Lall’s revelations shed light on the complexities of gold smuggling in Guyana and the challenges faced by authorities in addressing it.