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The oil and gas exploration activity by Guyana created a new source of tension with neighboring Venezuela. The 2015 discovery set off a round of recriminations between Venezuela and its eastern border neighbor. Officials in Caracas, which has long had claims on Guyana's Essequibo region, have alleged that the concession is located in disputed ...
The long-standing territorial dispute over the Essequibo region escalated into a crisis in 2023. The region is controlled by Guyana but is claimed by Venezuela.The dispute dates back many years and the current border was established by the Paris Arbitral Award in 1899.
A 2018 estimate predicts Guyana's oilfields are holding over 3.2 billion barrels. [12] Off-shore crude oil extraction began in 2019. By 2024, oil production in Guyana had soared to approximately 645,000 barrels per day (bpd), marking a significant increase from 98,000 bpd in its initial full year of production. Guyana increased crude oil ...
U.S. oil major Exxon Mobil and partners are continuing to negotiate with Guyana's government on the terms for developing a shallow-water oil block, an Exxon spokesperson said on Monday. Exxon ...
Venezuelan President Nicolás Maduro on Tuesday directed the country's state-owned companies to “immediately” begin to explore and exploit the oil, gas and mines in Guyana's Essequibo region ...
Guyana has opened bids for 14 offshore oil blocks available for exploration and development as the South American country seeks to ramp up oil production. Six companies and groups submitted bids ...
Other events of 2019; Timeline of Guyana history; Events in the year 2019 in ... Events. December 20 – Production of crude oil starts from the Liza oil field in the ...
Venezuela’s threats to annex a majority of Guyana may be an effort by its leader to consolidate power at home ahead of a potential presidential election next year instead of a real intention to ...