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Guyana Gets Institutional Fund To Power Real Estate And Infrastructure

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News Americas, New York, NY, June 4, 2025: Guyana’s growing prominence on the global investment stage was further underscored this week as Rise Guyana announced the final close of its inaugural private investment fund at USD $29 million – marking the country’s first institutional real estate and infrastructure fund.

Backed by investors across the United States, United Kingdom, Europe, South America, and the Middle East, the fund aims to leverage Guyana’s rapid economic growth and its transformation into the world’s fastest-growing nation, fueled largely by oil discoveries in the Stabroek Block.

“This fund reflects our confidence in Guyana’s transformation and our commitment to building long-term value with local roots and global vision,” said Kristine Thompson, co-founder and managing partner of Rise Guyana.

Guyana’s Stabroek oilfield, which holds an estimated 11 billion barrels of reserves, has propelled the country to the center of global energy discussions. According to Wood Mackenzie, this vast reserve could yield over $190 billion for the Guyanese government in the next 15 years, while generating $182 billion in profits for ExxonMobil and its partners. The high returns, coupled with a low breakeven cost of production under $30 per barrel, make the field one of the most lucrative oil projects worldwide.

Capitalizing on this momentum, Rise Guyana is rolling out a series of transformational infrastructure projects including:

A dual-branded Marriott City Express and City Suites hotel near Ogle Airport and Exxon HQ.

Modular housing manufacturing for scalable, cost-effective construction.

A private aviation hub at Ogle and Timehri airports.

Multi-phase residential developments in fast-developing corridors.

A portfolio of completed multi-family developments.

The fund targets a 30% net internal rate of return, utilizing a barbell strategy to balance stable yield with growth opportunities.

“This is more than a real estate fund – it’s a platform for national transformation,” added Thompson. “We’re combining frontier returns with institutional governance to help shape the physical, economic and social future of Guyana. This is the first of many funds to come.”

As Guyana continues to redefine its economic landscape, Rise Guyana is positioning itself as a key player in shaping a sustainable and inclusive future for the country and its citizens.

Exxon-Led Oil Group Nets $10.4B In Guyana As Output Surges

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News Americas, New York, NY, June 4, 2025: Guyana’s booming oil industry continues to break records, as the ExxonMobil-led consortium reported a massive 64% surge in 2024 profits, totaling $10.4 billion from operations in the South American nation. The figure highlights Guyana’s transformative role in global energy markets and its position as a top-tier oil-producing frontier.

ExxonMobil alone earned $4.7 billion of its total $33.5 billion in 2024 from Guyana, the company confirmed this week, while partners Hess Corporation and China’s CNOOC reaped $3.1 billion and $2.5 billion respectively – significant jumps from the previous year.

The group’s output reached 652,000 barrels per day (bpd) in the fourth quarter, thanks to key upgrades at floating production facilities. With a fourth production vessel arriving in February and more installations underway, Guyana’s oil output is projected to exceed 900,000 bpd soon, with long-term plans aiming for 1.7 million bpd by 2030.

“This performance showcases the scale of opportunity that Guyana represents,” said an Exxon executive, pointing to the country’s strategic positioning, rapid production growth, and investor-friendly environment with relatively low royalties and taxes.

While consortium expenses in Guyana rose by 42% to $4.9 billion last year, the pre-tax profit reached an impressive $12.8 billion—solidifying Guyana’s status as a cornerstone in the partners’ global portfolios.

As pressure mounts to secure natural gas and diversify energy strategies, Exxon and its partners are also exploring new developments to quantify and utilize Guyana’s gas reserves.

With this continued momentum, Guyana and its neighbors are firmly on track to become one of the world’s last great oil frontiers—offering robust returns while fueling national development.

Apple Purchases And Retires 100,000 Carbon Credits From Guyana In Landmark Sustainability Move

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News Americas, New York, NY, Tuesday, June 3, 2025:In a significant stride towards environmental sustainability, global technology leader Apple Inc. has acquired and retired 100,000 carbon credits from Guyana, marking its inaugural engagement with jurisdictional carbon credits under the Architecture for REDD+ Transactions, (ART) framework.

Apple Inc. purchases and retires 100,000 carbon credits from Guyana, reinforcing its commitment to environmental sustainability and supporting the nation’s forest conservation initiatives.

The credits, priced at US$15 each, amount to a total investment of approximately GYD$313 million. Senior Director for Climate and REDD+ at Guyana’s Ministry of Natural Resources, Dr. Pradeepa Bholanauth, confirmed the transaction, highlighting its alignment with Apple’s commitment to offsetting its corporate emissions.

These 2019-vintage credits, representing emission reductions from 2016 to 2020, are part of Guyana’s comprehensive forest conservation efforts encompassing 18 million hectares—about 85% of the country’s landmass. Apple’s 2025 Environmental Progress Report emphasizes that this initiative supports the nation’s historically low deforestation rate while funding low-carbon development priorities.

Apple’s engagement with Guyana’s carbon credits follows a precedent set by Hess Corporation, which purchased US$750 million worth of credits in December 2022. This move underscores the growing corporate interest in high-quality, jurisdictional carbon credits as a means to achieve sustainability goals.

Since achieving carbon neutrality in April 2020, Apple has consistently invested in carbon credits from various countries, including Colombia and Kenya. The company’s latest acquisition from Guyana signifies a strategic shift towards large-scale, jurisdictional approaches to carbon offsetting.

Guyana’s participation in the voluntary carbon market has yielded substantial economic benefits, with earnings of US$237.5 million from carbon credit sales between 2022 and 2024. Projections indicate additional revenues of US$250 million for the 2021–2025 period and US$312 million for 2025–2030, as credits are sold at increasing rates of US$20 and US$25 per tonne, respectively.

This collaboration between Apple and Guyana exemplifies a mutually beneficial partnership, advancing global climate objectives while supporting sustainable development in forest-rich nations.

Invest Caribbean CEO To Co-Moderate Finance Panel At CCF 2025

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News Americas, New York, NY, June 2, 2025: The countdown is on to the Cross Continental Forum (CCF) 2025 in Barbados.

Felicia J. Persaud, the trailblazing CEO of Invest Caribbean, is set to co-moderate a pivotal panel at the event on “Decolonizing Financing & Investment.” The session, part of a five-day landmark gathering, aims to radically reshape global media investment frameworks and champion equity for Black and Global Majority content creators.

The countdown is on to CCF 2025 in Barbados where ICN’s Felicia J. Persaud will be among the moderators.

Persaud, a South Florida-based journalist, media and investment entrepreneur, and passionate advocate, has consistently raised awareness about the critical lack of access to capital – particularly for the Caribbean region, will join UK-based finance strategist Nathan Adabadze in leading the June 15th dialogue. Together, they will guide critical conversations with top-tier industry leaders, including Victor Mukete of Afrixembank (Nigeria), Joel Phiri of Known Associates (South Africa), Kerwyn Valley of C15 (Trinidad), and Kaye Greenidge of Invest Barbados.

Their collective goal? To explore new global ecosystems that prioritize inclusive capital flows and dismantle long-standing colonial power structures in media financing. This bold conversation is expected to surface solutions that emphasize cultural sovereignty, equitable partnerships, and sustainable development across Africa, the Caribbean, and beyond.

The Cross Continental Forum, produced by CaribbeanTales Media Group in partnership with the University of the West Indies, unites over 30 producers and 25 industry delegates from the UK, Canada, Africa, and the Caribbean. The forum seeks to reimagine global storytelling through a decolonial lens and is a cornerstone event of the CaribbeanTales International Film Festival’s 20th anniversary celebration.

Each day of CCF 2025 focuses on a different facet of decolonization in media:

June 14: Decolonising Policy & Legislation – Featuring experts from Canada, the UK, the Caribbean, and Africa, this panel tackles systemic legislative and policy barriers to equitable media production. Notable speakers include Joy Lowen (Canada Media Fund), Denitsa Yordanova (British Film Institute), and CARICOM’s Wayn McCook.

June 15: Decolonising Financing & Investment – Moderated by Felicia Persaud and Nathan Adabadze, this panel highlights new financing frameworks for empowering Black content creators and creating sustainable global partnerships.

June 16: Decolonising Content – This session explores authenticity in Black and Global Majority storytelling, with insights from Asha Lovelace (Caribbean Film Festival), Effie T. Brown (Gamechanger Films), and Elon Johnson (Tyler Perry Studios). The evening culminates in a conversation with Oscar-nominated filmmaker Ava DuVernay.

June 17: Decolonising Distribution – A deep dive into dismantling systemic distribution biases, featuring case studies and strategies for independent, decentralized media delivery.

June 18: Decolonising Co-Production – A culminating session that reflects on the forum’s insights and presents concrete action plans for sustainable global collaboration in Black and Indigenous media.

Complementing the panels are a series of public film events celebrating the CaribbeanTales International Film Festival’s two decades of impact:

June 13: Opening reception and screening of short films at Hayman’s Market.

June 14: Screening of HBO’s Get Millie Black followed by an in-depth conversation with Booker Prize-winning author Marlon James at Frank Collymore Hall.

June 15: Screening of Banel and Adama with a talkback featuring UK distributors We Are Parable at the Barbados Museum.

June 17: Screening of Ernest Cole: Lost & Found, directed by Haitian filmmaker Raoul Peck, also at the Barbados Museum.

About the Cross Continental Forum:
The Cross Continental Forum (CCF) 2025 is a production of CaribbeanTales Media Group in collaboration with the Department of Creative and Performing Arts (UWI Cave Hill). It is generously supported by the Canada Media Fund, British Film Institute, Mango Bay Group of Companies, Invest Barbados, Inter-American Development Bank, Picture NL, National Cultural Foundation of Barbados, Barbados Tourism Marketing Inc., Barbados Film and Television Association, Telecommunications Services of Trinidad and Tobago, Telefilm Canada, and numerous other global partners.

Guiding the forum is a distinguished Steering Group that includes Frances-Anne Solomon (CEO, CaribbeanTales Media Group), Andrew Millington (UWI Cave Hill), CCH Pounder (actor and activist), Dr. Keith Nurse (COSTAATT), Zikethiwe Ngcobo (Fuzebox Entertainment, South Africa), John Reid (former FLOW CEO), Agnieszka Moody (British Film Institute), Chloe Sosa Simms (CBC), and international events producer Diana Webley.

The film screenings are open to the public, and tickets can be obtained at: https://ticketnation.nuwebgroup.com/

Guyana, Afreximbank Launch US$1 Billion Oil Services Financing Facility

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News Americas, New York, NY, May 27, 2025: The Government of Guyana and the African Export-Import Bank (Afreximbank) have officially launched a US$1 billion financing facility aimed at strengthening the participation of local businesses in the country’s booming oil and gas sector.

Senior Minister in the Office of the President with Responsibility for Finance and the Public Service Dr. Ashni Singh, c., with the Afrexim team.

Unveiled recently at the Marriott Hotel during a two-day roadshow themed “Empowering Local Content Participation for Sustainable Prosperity,” the initiative follows high-level discussions between President Irfaan Ali and Afreximbank President Benedict Oramah earlier this year. The facility is intended to deepen Caribbean-Africa trade ties while ensuring local enterprises benefit from Guyana’s oil wealth.

Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni Singh, lauded the launch as a milestone in economic cooperation. “This generation must move beyond cultural ties and capitalize on the untapped commercial opportunities between our regions,” he said. He urged the local private sector to explore the bank’s financial products and engage in meaningful transactions.

Afreximbank’s Regional COO, Okechukwu Ihejirika, reaffirmed the Bank’s commitment to implementation, emphasizing that local businesses must have a stake in the country’s energy-driven prosperity.

The facility is a key step in expanding access to competitively priced financing for Guyanese companies.

EXXON/CHEVRON FIGHT

The facility comes as a high-stakes legal battle between U.S. oil giants ExxonMobil and Chevron over Guyana’s lucrative Stabroek oilfield begins this week in London arbitration. At the center is a 30% stake in the field, held by Hess Corporation, which Chevron agreed to acquire for $53 billion. Exxon, already holding a 45% share, argues it has first refusal rights under a joint operating agreement. The outcome could reshape future oil contracts and corporate takeovers. The Stabroek block, with over 11 billion barrels in reserves, is a key growth asset for both companies and a major revenue source for Guyana.

These Are the Freest Caribbean Economies In 2025—Is Your Country On The List?

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News Americas, New York, NY, May 15, 2025: Wondering how economically free Caribbean nations are? According to the 2025 Index of Economic Freedom from The Heritage Foundation, the region is mostly economically free, with several countries outperforming both global and regional averages.

BarBarbados leads the region with a score of 68.9, ranking 36th globally out of 184 countries and 5th in the Americas, placing it firmly in the “moderately free” category. It is followed closely by Jamaica (68.7, 38th) and Saint Lucia (67.0, 47th), showcasing the region’s continued push for open markets, efficient regulations, and growth-friendly policies.

The Bahamas, with its tax-free model and steady macroeconomic management, ranks 72nd globally with a score of 63.2, also considered “moderately free.” While still performing above global and regional averages, institutional improvements are needed to ensure sustainable economic growth.

Here’s how Caribbean nations ranked in the 2025 Index of Economic Freedom:

Barbados – 68.9 (36th globally)

Jamaica – 68.7 (38th)

Saint Lucia – 67.0 (47th)

Dominican Republic – 64.3 (65th)

Belize – 64.2 (66th)

Trinidad and Tobago – 63.6 (69th)

The Bahamas – 63.2 (72nd)

Saint Vincent and the Grenadines – 60.1 (87th)

Guyana – 58.2 (99th)

Dominica – 55.3 (116th)

Suriname – 50.9 (144th)

Haiti – 46.1 (163rd)

Cuba – 25.4 (175th)

At the bottom of the list, Cuba and Haiti are classified as “repressed” economies, facing entrenched challenges such as rigid state control, corruption, and weak legal institutions.

Despite variations in rankings, most Caribbean nations fall within the “moderately free” category, signaling a generally positive outlook for investment, private-sector growth, and economic development in the region.

Caribbean Economies Are Beating Latin America – Here’s Why

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News Americas, New York, NY, May 15, 2025: Caribbean nations are outpacing their Latin American neighbors in economic performance, according to a latest World Bank analysis. With tourism rebounding and oil-driven growth in Guyana, the region is solidifying its post-pandemic recovery and emerging as a model for economic management and fiscal discipline.

Tourism-dependent economies such as Barbados, Saint Lucia, and the Dominican Republic have returned to, or exceeded, pre-pandemic levels of GDP. For some, tourist arrivals have even reached pre-COVID-19 numbers, signaling a cooling in the sector’s explosive growth, while others still have room to grow.

Guyana continues to stand out with sustained GDP expansion, fueled by oil exploration and exportation that began in earnest in 2020. The country’s transformation into one of the fastest-growing economies in the world exemplifies the region’s new economic frontiers.

Inflation trends also show a marked divergence from Latin America. Thanks to widespread currency pegs in the Caribbean, the inflation spike of 2022–2023 was more subdued. However, nations like Jamaica and the Dominican Republic – operating under inflation-targeting regimes—experienced more pronounced and persistent inflation pressures. Since 2023, however, prices have been stabilizing, bringing inflation under better control across the region.

Jamaica’s innovative use of the Economic Programme Oversight Committee, (EPOC), to ensure fiscal transparency and build public trust has earned recognition from the World Bank as a potential model for broader adoption in the Latin America and Caribbean, (LAC) region.

Meanwhile, Barbados and Belize – long challenged by high debt burdens – have made significant strides through ambitious fiscal reforms. Both countries have achieved substantial reductions in their debt-to-GDP ratios, showcasing fiscal responsibility and resilience.

The World Bank’s assessment paints a hopeful picture for the investing in the Caribbean, positioning it not only as a recovery leader but also as a source of policy inspiration for the broader LAC region.

Luxury In Paradise: This New Resort Is Set For This Caribbean Island

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News Americas, New York, NY, May 13, 2025: A new era of ultra-luxury tourism is set to begin in The Bahamas with the arrival of Amancaya, a $260 million resort and residence development by world-renowned hospitality brand Aman. The major project, which will be located in Exuma, reflects growing global investor confidence in The Bahamas as a top destination for high-end, sustainable tourism.

Spanning two private cays, Amancaya marks Aman’s official debut in The Bahamas, bringing its elite brand of exclusivity and elegance to the country’s tourism landscape. The development is expected to create over 500 jobs—200 during construction and 300 permanent roles—while offering significant support to local businesses and entrepreneurs, expanding training and career opportunities, and driving long-term economic development in Exuma.

Chester Cooper, Deputy Prime Minister and Minister of Tourism, Investments & Aviation, described the project as a transformative moment for The Bahamas: “Aman’s entry into The Bahamas reflects the strength of our tourism sector as a premier luxury destination and the growing demand for eco-friendly sustainable development. Aman’s ultra-luxury lifestyle brand is a good fit for Exuma, and we look forward to the groundbreaking of this investment that will deliver meaningful, measurable long-term impact.”

With Amancaya set to join the country’s luxury offerings, The Bahamas continues to position itself as the Caribbean’s leading destination for elite travelers and innovative tourism ventures. This new project reinforces national efforts to attract high-value developments that align with both economic goals and environmental sustainability.

The resort’s launch is a powerful signal to the global market: The Bahamas is not only open for business – it’s ready to redefine luxury.

Jamaica’s Largest Solar Plant Just Got a New Owner

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News Americas, New York, NY, May 5, 2025: Jamaica’s largest solar energy plant has just been snapped up – marking a bold new move in the Caribbean’s clean energy revolution.

InterEnergy Group, a top player in Latin America and the Caribbean’s clean energy sector, has officially acquired the Paradise Park solar plant from Eight Rivers Energy Company (EREC), boosting Jamaica’s renewable future and reinforcing its position as a regional energy trailblazer.

Located in Westmoreland, the 51 MWp facility is Jamaica’s largest photovoltaic (PV) plant, operational since 2019. It generates over 80 GWh of clean electricity annually and offsets more than 13,500 tons of CO₂ – equivalent to powering 20,000 Jamaican homes every year.

“This acquisition aligns with our vision for a more sustainable energy future,” said Rolando González Bunster, InterEnergy’s CEO and Chairman. “Jamaica stands out as a remarkable example of the transformative power of clean energy.”

What This Means for Jamaica and the Region

With this deal, InterEnergy’s total renewable capacity in Jamaica now exceeds 85 MW, and it’s not stopping there. The company has plans to add 110 MW of new renewable projects across the Caribbean and Central America—making it one of the largest regional drivers of clean power.

InterEnergy, already the largest independent power producer in Jamaica, says this move strengthens both energy reliability and sustainability.

“Our 250 MW thermal capacity is the backbone of national stability,” said Dr. Wayne McKenzie, InterEnergy’s Country Manager for Jamaica. “With the addition of Paradise Park, we’re not just expanding – we’re ensuring a secure and resilient energy future for Jamaica.”

A Clean Energy Powerhouse in the Making

With more than three decades of experience, InterEnergy operates across the Dominican Republic, Panama, Mexico, Chile, Uruguay, Puerto Rico, and more. The company now boasts over 80% of its 2.5 GW portfolio in renewable and low-emission energy, including natural gas, solar, and wind.

The Paradise Park acquisition is not just another business deal – it’s a powerful signal that the Caribbean is leaning all-in on clean energy innovation.

ISS Supports Parkland’s Experienced Directors; Raises Concerns with Simpson’s Control Effort

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CALGARY, AB, April 29, 2025 /PRNewswire-HISPANIC PR WIRE/ — Parkland Corporation (”Parkland” or “the Company”) (TSX: PKI) today commented on the report1 issued by Institutional Shareholder Services Inc. (”ISS”), a leading independent proxy advisory firm, regarding the election of directors at Parkland’s Annual General Meeting scheduled for May 6, 2025. In addition, Parkland’s Executive Chairman, Michael Jennings released a short video to all shareholders. It can be viewed here.

ISS affirmed that Simpson Oil Limited (”Simpson”) has failed to meet the high bar required to justify a control slate, stating explicitly:

“… the bar for a control slate is high, and the dissident has not cleared it outright.”

ISS also highlighted significant deficiencies in Simpson’s proposed business strategy, noting:

“The dissident’s plan is light on details regarding capital allocation and which businesses would be potential divestitures, where specific cost savings would be identified and what a potential timeline for realization would be.”

“…the lack of detail provided makes it difficult for shareholders to objectively assess the dissident’s execution of its plan, if it is successful in this campaign, and as such does not warrant full control of the board.”

Further, ISS has recommended withholding support from Simpson’s nominee Mark Davis, who is also their proposed interim CEO, illustrating concerns over Simpson’s lack of depth and clarity in leadership transition planning.

In contrast, ISS endorsed Parkland’s recent strategic initiatives, including the ongoing strategic review and the comprehensive CEO search, emphasizing that Parkland’s Board is appropriately structured to oversee these processes and deliver value to all shareholders.

The choice for shareholders is clear: a vote for Parkland’s nominees is a vote for an experienced, diverse, and independent Board stewarding a credible and thorough strategic review and acting in the best interest of all shareholders.

Reminder: Continue Voting ONLY the BLUE Proxy ‘FOR’ the Parkland Nominees

Regardless of the recommendations issued by the proxy advisors, Parkland urges all shareholders to continue ONLY voting ‘FOR’ Parkland’s nominees on the BLUE Proxy ensuring the Company continues to be led by directors committed to rigorous governance and maximizing value for all shareholders. The deadline for voting is May 2, 2025, at 9:00 a.m. (Mountain Time).

Shareholders needing voting assistance may contact Kingsdale Advisors at 1-888-518-6832 (toll-free in North America), 1-647-251-9740 (text and call enabled outside North America), or email contactus@kingsdaleadvisors.com. Please visit www.ourparkland.ca for additional information about the Parkland Nominees and reasons to only vote the BLUE Proxy.

About Parkland Corporation

Parkland is a leading international fuel distributor, marketer, and convenience retailer with safe and reliable operations in twenty-six countries across the Americas. Our retail network meets the fuel, and convenience needs of everyday consumers. Our commercial operations provide businesses with fuel to operate, complete projects and better serve their customers. In addition to meeting our customers’ needs for essential fuels, Parkland provides a range of choices to help them lower their environmental impact, including manufacturing and blending renewable fuels, ultra-fast EV charging, a variety of solutions for carbon credits and renewables, and solar power. With approximately 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region, we have developed supply, distribution, and trading capabilities to accelerate growth and business performance.

Our strategy is focused on two interconnected pillars: our Customer Advantage and our Supply Advantage. Through our Customer Advantage, we aim to be the first choice of our customers through our proprietary brands, differentiated offers, extensive network, competitive pricing, reliable service, and compelling loyalty program. Our Supply Advantage is based on achieving the lowest cost to serve among independent fuel marketers and distributors in the hard-to-serve markets in which we operate, through our well-positioned assets, significant scale, and deep supply and logistics capabilities. Our business is underpinned by our people and our values of safety, integrity, community, and respect, which are embedded across our organization.

Forward-Looking Statements

Certain statements contained herein constitute forward-looking information and statements (collectively, “forward looking statements”). When used in this news release, the words “aim”, “continue”, “expect”, “will”, “would” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things: Parkland’s Annual General Meeting of Shareholders and the expected timing thereof.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. These forward-looking statements speak only as of the date hereof. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities laws. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks, assumptions and uncertainties including, but not limited to: general economic, market and business conditions; Parkland’s Annual General Meeting of Shareholders and the results thereof, Parkland’s ability to execute its business strategy; action by other persons or companies; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described under the headings “Cautionary Statement Regarding Forward-Looking Information” and “Risk Factors” in Parkland’s current Annual Information Form, and under the headings “Forward-Looking Information” and “Risk Factors” in Parkland’s Management’s Discussion and Analysis for the most recently completed financial period, each as filed on SEDAR+ and available on Parkland’s website at www.parkland.ca. The forward-looking statements contained herein are expressly qualified by this cautionary statement.