Currently, just 40% of Suriname’s offshore oil blocks have been licensed, some 32 million acres, leaving over 60% untouched and ripe with potential. Staatsolie’s Vice President of Offshore, Glenn Corrie, said that by the end of 2022, the 60% of unexplored offshore acreage will be up for grabs, and Suriname is looking to get good fiscal terms for the development of its oil and gas resources.
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One Guyana Dollar is currently valued at around 210 US dollars. Guyana’s currency is weak because of numerous factors, but one of the most influential of those factors is the low GDP that the country produced over the last several decades. However, Guyana’s financial windfall from oil revenues now enables it to have a much stronger currency.
I was extremely disappointed to hear our president referring to sugar as a “curse.” The same sugar that put food on the table for so many Guyanese families for centuries. The same sugar which enriched and sweetened the lives of so many people. The same sugar that laid the foundation for so many other industries, and created so many millionaires out of all races, classes, and conditions.