(World Bank, 2020)
Guyana’s Oil Boom Has Been Amazing For Its Economy
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.