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Black Facts for October 13th

2022 - Guyana Shorebase, NCB Merchant Bank sign US$10m loan - Trinidad and Tobago Newsday

NCB Merchant Bank (TT) Ltd (NCBMBTT)- a subsidiary of the Jamaica-based NCB Capital Markets Group - has signed an agreement with Guyana Shorebase Inc (GYSBI) for the disbursement of a syndicated term loan to the value of US$10 million.

GYSBI is a Guyanese majority-owned company that provides a multi-use facility offering support and logistical services to satisfy the highly specialised needs of Guyana's oil and gas industry. Fourteen international oil companies are currently engaged in petroleum operations onshore and offshore in Guyana's territorial waters.

This loan facility will allow GYSBI to expand its capacity in the delivery of secure open and covered storage, berthing for supply vessels, operational personnel, and loading/unloading logistics support. GYSBI offers services ranging from waste management, chemical storage, warehousing, construction, supply chain management, expatriate management, and customs and logistics services. The company currently has four berths, 30 acres of developed land at its main port and owns and manages 140 acres of industrial estate.

Guyana's estimated reserves at August stands at more than 11 billion barrels of oil equivalent and 13.2 billion cubic feet of associated gas. With an estimate of 750,000 barrels of oil per day in the next two years and potential revenues of US$50-US$200 billion by 2050, the industry is ramping up for the long haul.

NCBMBTT has been providing financing in Guyana since 2015. It was part of a wider NCB syndicate out of Jamaica that extended a US$20 million loan to the Guyana Sugar Corporation, and in 2020 NCBMBTT arranged financing for Nabi/KCL Oilfield Construction Services JV to aid in their construction of a corporate campus in Ogle, Guyana for a prominent energy company.

'We were able to provide financing that is flexible, forward thinking, and facilitative of GYSBI's business model', said Marli Creese, head of corporate and investment banking at NCBMBTT. 'By taking the time to understand Guyana Shore Base, we were able to create a custom-tailored financial solution.'

GYSBI general manager Robert Albiez stated that, 'This bridging loan agreement is a precursor to a more significant multimillion-dollar deal involving NCBMBTT and three other Guyana banks to provide capital for projects that will further build and enhance GYSBI's capacity to support ExxonMobil's offshore drilling campaign.'

The NCB Financial Group has assets of US$12 billion, a capital base of circa US$1 billion and is publicly traded on the Jamaica and TT stock exchanges. It trades under the ticker symbol NCBFG.

In 2015 Muneshwers Ltd, Pacific Rim Constructors, LED Offshore, and Total Tec Oilfield Services - all companies with relevant experience and expertise, combined interests to establish Guyana Shorebase Incorporated. The company was later awarded a five-year mandate to provide ExxonMobil with shore base services which has been subsequently extended to 2032. With the increasing demand for services, GYSBI will now be able to provide increased services as

2022 - Parang festival to launch in Arima - Trinidad and Tobago Newsday

The National Parang Festival is once again open to the public and will begin with a grand launch at the Santa Rosa First People's Community Centre on October 15.

The celebrations begin with Holy Mass at Santa Rosa RC Church from 6 pm, to be followed by a procession to the community centre, the National Parang Association of Trinidad and Tobago (NPATT) said in a media release.

The theme for this year's festival is Parranda Para Siempre. Although this season is not in competition mode, after two years of no live performances - with the exception of Por Fin Parranda and the launch of the Orquesta Nacional de Parranda de Trinidad y Tobago - the association decided it was bringing back parang from the memories of yore - very reminiscent of the house parang style and format.

'We were hoping for a more dynamic festival this year, but due to a lack of financial resources, we could not present such a production which folks are accustomed seeing from year to year,' president of NPATT Alicia Jaggasar said in the release. 'Instead, we decided to celebrate the season the way parranderos do best - by offering our gift of music and song in the humblest way possible - a house parang. We want folks to bring their coolers and enjoy.'

Parranderos will journey through different communities sharing Christmas cheer, ending on January 7, 2023 - celebrating the Epiphany on January 6.

Bands to appear at Saturday's launch are Los Buenos Parranderos, Los Amigos Cantadores, Los Alumnos de San Juan, Los Ruisenores, Los Parranderos de UWI, and Herencia Venezolana. This launch will also serve as a collaboration with the Santa Rosa First Peoples community as its members celebrate their Day of Recognition.

In addition to the Santa Rosa First People, NPATT has also collaborated with Gayelle TV, Exodus Steel Orchestra, Café Mariposa, the Arima Borough Council, as well as Sacred Heart RC of Buenos Ayres and St Anthony's RC Church of Point Fortin, the release said.

'We are grateful to our collaborators who have offered us support this season,' Jaggasar said.

The festival will continue fortnightly. The dates and venues, including other highlight events are:

October 15 - Launch of Season 2022: Parranda Para Siempre Santa Rosa First People's Community Centre, Arima

October 29 ­- Parranda Para Siempre Sacred Heart RC, Buenos Ayres

November 12 - Parranda Para Siempre Cafe Mariposa, Lopinot

November 19 -Parranda es La Vida: Junior Parang Festival (primary school competition) TBA

November 20 - Parranda es La Vida (secondary school competition) TBA

November 25 - Divas of Parang, Central Bank Auditorium, Port of Spain

November 26 - Parranda Para Siempre, Exodus panyard, Tunapuna

December 10 - Parranda Para Siempre, St Joseph

December 16 - El Aroma De Parang, Arima

January 7 - Les Rois: Parranda Para Siempre St Anthony's RC, Pt Fortin

Parranda Para Siempre events are scheduled to begin at 8 pm, with a cover charge of $100. The cover charge for the Les Rois event is $50.