Guyana’s Oil Boom Has Been Amazing For Its Economy

Guyana’s Oil Boom Has Been Amazing For Its Economy Main Photo

10 Feb 2022


The former British colony of Guyana, one of South America’s poorest nations, is undergoing a major economic transformation driven by a massive oil boom. ExxonMobil’s 2015 discovery of crude oil has been a game-changer for a deeply impoverished Guyana that was severely impacted by the COVID-19 pandemic. The U.S. energy supermajor, after making a slew of quality oil discoveries, is investing heavily in offshore Guyana commencing petroleum production during 2019 from the Stabroek Block.

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