Caribbean & Central America - September 2016 (ISSN 1741-4458)

*** GUYANA OIL TO FLOW FROM 2020. ExxonMobil, which has made two large oil discoveries in Guyana’s territorial waters, has said that it hopes to be producing 100,000 barrels of oil per day from 2020. According to the US oil company, the oil is of good quality, “not sour”. In preparation, the government of Guyana has said that it is drawing up plans to develop an onshore facility to maximise the benefits from the windfall. The location for the onshore facility has not yet been identified, but it is thought that the development will include a shipyard, port facilities, and support services for the operator. The government has also announced its intention to establish a Sovereign Wealth Fund to manage the revenue.

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