What Lies Beneath Guyana's Petroleum Future
Oct 30, 2017 | 09:00 GMT
(JUAN BARRETO/AFP/Getty Images)
- ExxonMobil will start producing oil from offshore wells in Guyana by 2020. The country's initial oil production is expected to begin at around 120,000 barrels per day.
- Guyana's government likely will become dependent on oil revenue over the next decade. But greater oil revenue won't necessarily lead to economic benefits for the entire country.
- Neighboring states, such as Venezuela, may gain from rising demand for services in Guyana as new funds flow into the government and private sector.