News Review: Barita Management Changes?, VM Ups Stake in KPREIT?, Guyana rice exports? & Carbon Credits – Dec 30, 2022

Key takeaway: With a new export market secured in Lebanon for local rice farmers, Guyana’s rice exports in 2022 stand at US$185 million, the Ministry of Agriculture has disclosed. This figure falls just below the US$191 million exported in 2021

Key takeaway: Guyana’s demand for stone could not be satisfied by neighbouring Suriname, and Trinidad and Tobago. Planned road and drainage works in Georgetown from next year, plus the construction of several major roads and hotels in Guyana. Official figures show that Guyana produced 853,099 tonnes of stone in 2021.

Key takeaway: Another successful and quickly oversubscribed offer. Congrats

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Key takeaway: Part of a multi-year agreement for the sale of high-quality carbon credits to United States energy major, Hess Corporation, to the tune of a whopping US$750 million – a significant portion of which will be injected into the development of Indigenous communities across the country. A carbon credit is a tradable permit or certificate that allows the holder of the credit the right to emit a stated tonnage of carbon dioxide or an equivalent of another greenhouse gas. Countries and companies that exceed their permitted limits can purchase carbon credits from nations that have low emissions such as Guyana.