Sol Launches Mobil Fuel in Guyana in Partnership with ExxonMobil

The Sol Group has signed an agreement with ExxonMobil to introduce MobilTM fuels at its network of service stations across Guyana. Mobil Synergy ExtraTM and Mobil Synergy Supreme+TM fuels, featuring advanced engine-cleaning and performance-enhancing formulas, will now be available to Guyanese drivers. This partnership marks the first time MobilTM fuels will be sold in the country, adding to Sol's existing offering of MobilTM lubricants. Sol Guyana's leadership views this as a strategic move to elevate the quality of fuels available locally while delivering better mileage and engine performance for customers.

BVI Seeks Collaboration with Guyana in Oil & Gas and Financial Services

The British Virgin Islands (BVI) has expressed interest in partnering with Guyana, particularly in the oil and gas sector. Premier Natalio Wheatley emphasized the potential for cooperation in agriculture, tourism, and financial services, which account for 60% of BVI's government revenue. A Memorandum of Understanding (MoU) is being developed, with both nations working towards collaboration in these critical sectors. The MoU will further strengthen ties between the two countries, fostering trade and investment opportunities.

Business Opportunities Based On Today’s Developments

Small Enterprises

1. Agricultural Product Distribution

   • With the upcoming regional ferry service between Guyana, Barbados, and Trinidad and Tobago, small businesses involved in agriculture can explore new markets. Entrepreneurs can focus on transporting fresh produce (fruits, vegetables, spices) to these markets, targeting Caribbean consumers interested in locally-grown, organic goods.

   • Notes: Specialize in niche crops or organic produce that can command premium pricing in these new markets. Quick access via the ferry will reduce spoilage risks.

2. Logistics Services

   • The ferry service also creates opportunities for small logistics companies. Offering last-mile delivery services to ferry operators or customers on either side of the route could be lucrative. Coordination with local markets and agro-processing businesses could streamline distribution channels.

   • Notes: Develop partnerships with farmers and market vendors for collective shipping services, potentially reducing individual shipping costs.

3. Agro-processing Expansion

   • With an increasing focus on food security and manufacturing in Guyana and Suriname, small businesses in agro-processing could supply processed goods like dried fruits, jams, or sauces for the domestic and regional market. As the International Business Conference highlights the importance of reducing food imports, small enterprises can fill gaps by processing locally grown produce.

   • Notes: Access government incentives for agro-processing, and explore partnerships with Surinamese businesses at the IBC.

Medium Enterprises

1. Value-Added Agricultural Products

   • The livestock vaccine production in Guyana represents a direct opportunity for medium-scale farmers or businesses involved in animal husbandry to expand into value-added products such as organic meat, eggs, and dairy, ensuring that they are well-vaccinated and marketed as healthier options.

   • Notes: Position your business as a premium provider by guaranteeing that your livestock is protected with the latest vaccines, which could also lead to exporting opportunities within the Caribbean.

2. Supply Chain & Distribution for Oil & Gas

   • BVI’s interest in oil and gas collaboration with Guyana opens up opportunities for medium-sized logistics companies to handle the movement of materials and equipment between the two nations. Providing support services like equipment rentals, warehousing, and transportation for oil field workers could be profitable.

   • Notes: Focus on building relationships with ExxonMobil’s partners and other oil block operators for logistics contracts.

3. Healthcare Products & Services

   • The introduction of advanced prostate cancer treatments in Guyana presents a business opportunity for companies to supply medical equipment, pharmaceuticals, or outpatient services to clinics. Additionally, healthcare awareness campaigns and early screening services could be launched.

   • Notes: Collaborate with health institutions to market PSA tests or related diagnostics. A service-focused business offering testing facilities, mobile diagnostics, or screening services could grow alongside the increased focus on men’s health.

4. Technology & Innovation Consulting

   • With increased investment in digitization and the launch of an IBC mobile app, medium enterprises specializing in IT services, app development, and digital transformation can seize opportunities to provide technological solutions to local businesses. As the business environment in Guyana and Suriname modernizes, there will be significant demand for upgrading legacy systems.

   • Notes: Pitch digital transformation services to businesses attending the IBC conference, particularly in the areas of manufacturing and logistics.

Large Enterprises

1. Oil & Gas Joint Ventures

   • As Guyana positions itself as a key partner in Suriname’s $10.5 billion oil project, large enterprises in oilfield services, engineering, and construction should look to establish joint ventures or regional branches to capitalize on new contract opportunities in infrastructure, drilling, and resource management.

   • Notes: Partner with Tier-1 contractors already established in Guyana to secure contracts in Suriname’s emerging oil field development. Be prepared to offer end-to-end solutions for exploration, extraction, and logistics.

2. Manufacturing and Industrial Services

   • The Guyana-Suriname IBC and the new focus on manufacturing sectors offer excellent opportunities for large-scale manufacturing firms to set up plants or expand production facilities, especially in food processing, agro-processing, and heavy industrial manufacturing.

   • Notes: Take advantage of upcoming government incentives and explore joint ventures with Surinamese manufacturers. There’s also room for setting up industrial parks or special economic zones to facilitate smoother cross-border production.

3. Medical Infrastructure and Private Hospitals

   • With the prostate cancer treatment advancements and broader healthcare needs in the region, large healthcare enterprises could invest in building private hospitals or specialized treatment centers. These could cater not only to locals but also to regional medical tourism, focusing on cutting-edge treatments in cancer, cardiology, and orthopedics.

   • Notes: This could be coupled with insurance partnerships and government healthcare programs to provide both public and private services.

4. Renewable Energy Development

   • Large enterprises can explore renewable energy projects tied to the oil and gas industry. As Guyana and Suriname grow rapidly, demand for sustainable energy sources will rise. Companies can invest in solar, wind, and hydroelectric projects, providing power for industrial developments or even offshore oil rigs.

   • Notes: Partner with local governments to integrate clean energy solutions as part of their broader infrastructure and manufacturing push.

Additional Considerations:

• Sustainability & ESG: With growing global emphasis on sustainability, enterprises at all levels can integrate environmental, social, and governance (ESG) principles into their business models. Whether through adopting cleaner technologies, supporting local communities, or ensuring ethical practices, businesses can gain a competitive edge by emphasizing sustainability.

• Government Incentives: Across all sectors, there’s a growing mention of government incentives, especially in manufacturing and food security. Businesses should align their growth strategies with these incentives, ensuring that they qualify for financial support, tax benefits, and streamlined processes for new ventures.

• Collaborations with Foreign Investors: Guyana’s rapid growth, especially in oil and gas, and the high-profile international partnerships it’s forming, create opportunities for businesses to attract foreign direct investment (FDI) or partner with international players looking to enter the Guyanese and Surinamese markets.

These opportunities, across small, medium, and large enterprises, showcase the broad spectrum of growth potential in Guyana and Suriname’s evolving economy. Businesses that adapt quickly, invest in key sectors, and form strategic partnerships will be well-positioned to thrive in this dynamic environment.

Side Hustle Ideas Based On Today’s Developments

1. Agricultural Export Brokerage

• Opportunity: With the regional ferry service connecting Guyana, Barbados, and Trinidad and Tobago set to launch, there’s a prime opportunity to act as an agricultural export broker. This side hustle involves coordinating between local farmers and Caribbean markets to help export surplus produce like fruits, vegetables, or agro-processed goods.

• How It Works: You don’t need to be a farmer but can serve as the intermediary who links small farmers with buyers in Trinidad or Barbados. You can earn a commission for each transaction you facilitate, or even arrange shipping logistics for a fee.

• Why It’s High-Value: The Caribbean food security initiatives mean regional markets are seeking more locally grown produce. If you focus on export facilitation, the profit margins could be substantial with minimal upfront investment.

2. Health and Wellness Screening Services

• Opportunity: The growing awareness and push for early detection of diseases like prostate cancer, along with the new advanced laser treatment options, presents an opportunity in the health screening sector. This side hustle could involve organizing mobile health camps or partnering with local medical providers to offer prostate cancer screenings and basic health tests, particularly in rural areas.

• How It Works: Invest in portable testing kits (like PSA tests) and coordinate with local clinics or health professionals. You can market this as a community service while charging a small fee for each test. Guyana’s medical infrastructure is growing but still underdeveloped in many areas, making this a highly relevant service.

• Why It’s High-Value: With the government’s focus on healthcare and the Guyana Cancer Society already working to increase screenings, there’s a strong demand for accessible health services. This can grow as awareness rises.

3. Specialized Transportation Services for Oil & Gas Workers

• Opportunity: As Guyana’s oil and gas sector continues to expand, there’s an increasing demand for transporting workers between offshore rigs and inland accommodations, as well as within oil hubs. A specialized transportation service that focuses on this niche could serve as a side hustle with high returns.

• How It Works: You could start with a small fleet of vehicles (or even a single van or SUV) and offer transportation services specifically for oil and gas workers—whether for airport transfers, trips to work camps, or local transportation within Georgetown and coastal hubs.

• Why It’s High-Value: Oil companies are likely to pay a premium for reliable, dedicated transportation, especially as the sector grows. You can also establish relationships with Tier-1 contractors and secure long-term contracts or regular bookings.

Each of these side hustle ideas taps into growing sectors in Guyana and offers the potential for scalable income with a relatively low startup cost, making them ideal for people looking to earn extra while maintaining their full-time jobs.