drillship 'Yavuz'

Turkey's 230-meter (750-foot) drillship 'Yavuz' crosses the Marmara Sea on its way to the Mediterranean, from the port of Dilovasi, outside Istanbul, Thursday, June 20, 2019. Turkey had launched Yavuz, that it says will drill for gas off neighbouring Cyprus despite European Union warnings to refrain from such illegal actions that could incur sanctions against Ankara.(AP Photo/Lefteris Pitarakis)

OUR CARICOM neighbour, Guyana, which is headquarters of the Caribbean Community and Common Market (Caricom), has issued its first Extractive Industries Transparency Initiative (EITI) report, which reveals that in 2017 gross domestic product (GDP) generated by the mining sector amounted to US$634 million and accounted for 20.90 per cent of total GDP.

The mining and petroleum sector contributed US$99 million or 9.3 per cent to general government revenue. The value of exports from the mining sector amounted to US$927 million or 65.1 per cent of total exports in financial year 2017 and employment in the mining and petroleum sector was 4.2 per cent of total employment during 2017.

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AHEAD of Bernard Mitchell’s three-year contract as the chief executive of National Petroleum Marketing Company Ltd (NP) coming to an end, some 488 employees have put their signatures to a letter to Energy Minister Franklin Khan asking that his contract be renewed.

FINANCE Minister Colm Imbert says T&T has received a “favourable” rating from the US credit rating agency Fitch Ratings.

Increases in food prices have been minimal under the People’s National Movement (PNM), with prices going down for certain items in contrast to the large increases under the Kamla Persad-Bissessar administration.

SAGICOR Financial Corporation is paying nothing to CLICO and British American Trinidad to acquire their tradition insurance portfolios, worth over $8 billion, as the regional insurance company is acquiring insurance liabilities that have a greater value that the total investment assets that are to be transferred to Sagicor.

CLICO has not made a current, formal offer to sell its Methanol Holdings International Ltd (MHIL) shares to the methanol producer’s minority shareholder, Consolidated Energy Ltd.