Exxon On a Guyana Roll

Exxon found its sixth oil find off coast of Guyana (6th since 2015).

I think Guyana is expected to keep 50% of oil proceeds. Expected to have 2 billion barrels in reserves, and is hoping to pump 120,000 bpd. Average Guyana per capital annual income is about $4,000. I would imagine that this significant oil revenue could mean good things for Guyana. Emphasis on "could". Is this a curse?

Share this post


Link to post
Share on other sites

After all, this is the poorest place in South America ... but I liked what it's presidential spokesman said when all the excitement first started: 

"The plan is not to spend wildly like a drunken sailor but to put in a wealth fund for future generations and ensure we do not neglect agriculture," Archer said.

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0