AGP Executive Report
Last update: 10 minutes agoOil Market & Energy Prices: Disruptions around the Gulf are pushing crude higher, with Saudi export routes hit again as the East-West Pipeline stays offline and Red Sea loadings at Yanbu are suspended—Brent jumped to about US$109 and WTI to about US$106, raising costs and risk for regional economies. Guyana Oil Revenue: Guyana’s mid-year report projects petroleum deposits of about US$6.5B for 2026 and expects full-year petroleum revenues near US$6.5B, with first-half exports topping US$15B as production and prices rose. Cost of Living: Government data shows consumer prices up 4.4% (Dec 2025–Jun 2026) and food prices up 6.7%, even as headline GDP growth hit 33.3% for the first half. Power Supply Upgrade: GPL says the Chateau Margot 69kV substation is 60% complete, aiming to improve reliability and reduce blackouts on the East Coast. Tax & Legal Fight: The GRA is appealing a High Court decision that struck down nearly G$800M in taxes tied to luxury vehicles linked to the Mohameds. Labour & Safety Reform: Government is modernising occupational safety and health laws with ILO support and preparing oil-and-gas specific regulations. Business & Payments: GRA plans online tax payments via Mobile Money Guyana and debit cards before year-end, and is upgrading Padna for motor vehicle licence payments. Regional Connectivity: Surinam Airways talks continue on a proposed St Maarten route with connections through Guyana, pending a business case and approvals. Tourism & Jobs: CTO and Guyana tourism leaders push youth to see tourism as a real career path, not “menial” work.
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