SOUTH AMERICA’S only English-speaking country is one of its poorest. But perhaps not for much longer: Guyana has struck black gold. By 2020 ExxonMobil, the world’s biggest private oil firm, expects to be pumping oil in Guyanese waters, with Hess and Nexen, its American and Chinese partner firms. In the past two years they have found reserves of around 2bn barrels. Five more promising prospects will be drilled by 2018, and then perhaps a dozen more. Guyana could be producing 120,000 barrels per day by 2020, and more than 400,000 by the mid-2020s.
May 17, 2024
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