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Guyana Maintains Oil Production Plans Despite Venezuelan Threats

OIL

Despite the latest border escalation with Venezuela, oil majors operating in Guyana’s waters are “moving ahead aggressively” with production plans according to President Irfaan Ali.

  • He said Guyana’s troops were ready to defend the nations territory after further Venezuela claims to the oil rich region.
  • “There’s absolutely no slowing down” in production plans, Ali said in a video interview on Monday. “We are on the right side of international law, on the right side of ethics, and on the right side of history.”
  • Guyana is one of the fastest growing oil producers globally since 2019.
  • Maduro has told international oil companies to leave Guyana.
  • Guyana’s Ali and Venezuela’s Maduro are set to meet on Thursday on St. Vincent and the Grenadines in a bid to deescalate tension.
Energy BulletsCommodities
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