Data published by the Latin American and Caribbean Energy Organization (OLACDE) shows that by 2025, the Latin America and Caribbean region will contribute approximately 11 % of the world’s oil supply and nearly 6 % of its natural gas supply.

The report “Panorama 2025: Oil and Natural Gas Production and Foreign Trade in Latin America and the Caribbean (LAC)” revealed that “oil production in the region increased by 20 %” last year. Regarding the hydrocarbon sector, the report noted a boost from Guyana’s growth and Brazil’s continued leadership.

According to the document, seven countries account for 87 % of oil production in Latin America: Brazil, Mexico, Venezuela, Argentina, Colombia, Guyana, and Ecuador, each with a share exceeding 5 % of the regional total.

The list is distributed as follows: Brazil as the main regional producer, “reaching 3.77 million barrels per day (bpd); followed by Mexico, which registers 1.67 million bpd; leaving Venezuela in third place, with 1.08 million bpd.

Guyana’s oil production stood at 900,000 bpd, Argentina’s at 878,800 bpd, Colombia’s at 746,000 bpd, while Ecuador’s remained at 439,717 barrels of oil.”

M.Pino

Source: actualidad.rt

(Reference image source: Maria Lupan on Unsplash)

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The U.S. Energy Information Administration (EIA) forecasts an increase in global oil production of 800,000 barrels per day in 2026, thanks to the prominent role of Argentina, Brazil, and Guyana: three non-OPEC countries that will contribute an average of 400,000 barrels per day.

This projection has not gone unnoticed by the United States, which is currently focusing on South American nations in terms of crude oil supply for this year.

The IEA has stated: “Global crude oil production has been driven by non-OPEC countries, which will increase by 800,000 barrels per day in 2026, with Brazil, Guyana, and Argentina accounting for 400,000 barrels per day of global growth.”

In the case of Brazil, the agency projects a significant increase in crude oil production thanks to the operation of “new floating production, storage, and offloading (FPSO) units designed to exploit deepwater oil resources,” with projects such as the Bacalhau field, developed by the Norwegian company Equinor. This year, it could reach 4 million barrels per day by 2026.

Guyana “stands out for having increased its production tenfold between 2020 and 2025, reaching an average of 750,000 barrels per day,” thanks to discoveries in the Stabroek offshore block, operated by the consortium led by Exxon Mobil, in collaboration with Chevron and the China National Offshore Petroleum Corporation (CNOOC). By last November, production had risen above 900,000 barrels, according to the Department of Energy agency.

“Finally, the EIA focuses its attention on the Argentine case, particularly on the shale oil formation in Vaca Muerta, where the US model employing fracking or hydraulic fracturing technology is being adopted.”

M.Pino

Source: elinformador

(Reference image source: Gerhard Crous on Unsplash)      

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The International Energy Agency (IEA) estimates that oil demand will continue to rise. In this context, production is expected to continue at this upward pace, reaching 5.8 million barrels per day, with a quarter coming from Argentina, Brazil, and Guyana.

According to the agency, global oil production will increase this decade due to demand for the product, “although it may seem counterintuitive in the midst of the climate change crisis affecting the world.”

In this oil boom, countries like Venezuela, Ecuador, Mexico, and Colombia would be displaced by other emerging countries: Brazil, Guyana, and, to a lesser extent, Argentina, which are emerging as leaders in “a new chapter in the region’s oil production.”

In Guyana’s case, it entered the oil market in 2015, when “the US oil giant ExxonMobil discovered the first of its proven crude oil reserves, estimated at around 11 billion barrels, in the depths of the Atlantic Ocean.” According to the IEA, the country, once the poorest in the region, would surpass Kuwait.

For its part, Brazil is also gaining strength from underwater discoveries. “Under three kilometers of water and five more kilometers of rock and salt, the country extracts crude oil from one of the largest offshore oil fields in the world.” These discoveries made the country the largest oil producer in Latin America in 2017.

According to the IEA, Argentina would rank third in the new regional oil boom, taking into account the gigantic Vaca Muerta field in the northwest of the country, which has the “second-largest shale gas resources in the world and the fourth-largest shale oil resources.”

M.Pino

Source: sela.org

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The Inter-American Development Bank signed the Alliance for Security, Justice and Development with Argentina, Bahamas, Barbados, Belize, Brazil, Chile, Costa Rica, Dominican Republic, Ecuador, Guatemala, Guyana, Honduras, Jamaica, Panama, Paraguay, Peru, Suriname and Uruguay.

The objective of this regional alliance, open to new participants, is to design concrete policies and actions to fight organized crime.

“The Alliance, in which Ecuador will hold the first pro tempore presidency, will have a steering committee, a technical secretariat in charge of the IDB and three working groups that will promote policies and concrete actions and define metrics.”

The working groups will focus on the three pillars of the initiative: “protecting vulnerable populations, strengthening security and justice institutions, and reducing illegal financial markets and flows.”

The Alliance for Security, Justice and Development will have the support of at least 11 organizations, such as the Organization of American States (OAS), the International Criminal Police Organization (Interpol) and the World Bank (WB).

M.Pino

Source: cnnespanol

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In Latin America, the country that will have the greatest economic growth in 2025 is Guyana, according to the predictions of analysts and organizations such as the World Bank, which projects an expansion of 12.3 %.

On a par with world economies, such as China and India, Guyana is preparing for growth supported by “its vast natural resources and the drive of a new industry.” The country, with some 800,000 inhabitants, has demonstrated sustained growth for five years. According to the latest report “on global economic prospects in the Latin American and Caribbean region, the World Bank (WB) adjusted its forecasts and highlighted the economic boom of a country, with exceptional growth projections for 2025.”

Guyana went from being one of the poorest nations in the region to one of the richest in terms of per capita income in five years. This is demonstrated by data from the WB 2024 report, which projects an expansion of 12.3 % for 2025. “Guyana’s economy expanded by 43.5% in 2020, 20.1% in 2021, 63.3 % in 2022, and 33.8 % in 2023. Growth of 43.0 % is expected for this year,” they say in the report.

One trump card that this country has been able to use is oil, which has made it the fourth-largest oil producer in the world, “above historically productive nations such as Qatar, the United States, Mexico and Norway.”

Although its economy is based on agriculture, gold and diamond mining, and forestry, “up to the beginning of this year, reserves of approximately 11 billion barrels of oil were discovered” with the possibility of reaching 17 billion.

The discovery of oil on the coasts allowed a substantial increase in GDP. Current production is almost double that of Ecuador and is expected to reach 800,000 barrels per day next year.

M.Pino

Source: cronista

(Reference image source: Dinesh Chandrapal in Unsplash)

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The dispute over Essequibo, between Venezuela and Guyana, has aroused contrary opinions in the international context. In this regard, Russia calls for non-interference and for the parties to find a solution.

Through the spokesperson for the Ministry of Foreign Affairs, María Zajárova, Russia called on the international community not to intervene in the conflict. He indicated that Latin American countries must find Latin American solutions, adapted to their reality.

Zajárova pointed out that “maintaining Latin America as a zone of peace, free of any type of conflict, is in the interest of all countries in the region and the world as a whole.”

At the meeting on December 14, in Saint Vincent and the Grenadines, the presidents of Venezuela and Guyana agreed to maintain dialogue and avoid warlike positions on the Essequibo case.

In the midst of the different international reactions regarding the case, it is appropriate to mention the support of the British Secretary of State for the Americas and the Caribbean, David Rutley.

This Monday, the official expressed in Guyana his support for the country in its dispute with Venezuela, which remains critical of the European country’s position and has considered it as interfering.

At the meeting this Monday, Rutley and the Guyanese president, Irfaan Ali, addressed issues such as the continuation and expansion of the relationship between the United Kingdom and Guyana, particularly in matters of security and economic development.

M.Pino

Source: diarioelvistazo

(Reference image source: @mae_rusia, social network X)

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At an important meeting held last Thursday, 14 December in Kingstown, the capital of Saint Vincent and the Grenadines, the Governments of Guyana and Venezuela committed themselves to finding concrete solutions to the border dispute involving the territory of Essequibo.

The leaders of both nations, Nicolás Maduro and Irfaan Ali, expressed their readiness to continue the dialogue, based on the Geneva agreements of 1966, with the aim of reaching a peaceful and mutually beneficial resolution.

The diplomatic initiative that led to this meeting was led by the Prime Minister of Saint Vincent and the Grenadines, Ralph Gonsalves, who chairs the Community of Latin American and Caribbean States (CELAC). In addition, the Caribbean Community (Caricom) supported this action, with the crucial support of former Brazilian President Luiz Inácio “Lula” da Silva.

The United Nations (UN) played an observer role at the meeting, represented by the Special Envoy of Antonio Guterres, the Chief of Staff, Earle Courtenay Rattray. This important meeting marks a significant step towards the peaceful resolution of a long-standing territorial conflict in the region.

K. Tovar

Source: Descifrado

(Reference image source: @pampanocarvajal, X)

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The Prime Minister of Saint Vincent and the Grenadines, Ralph Gonsalves, announced that the presidents of Venezuela and Guyana, Nicolás Maduro and Irfaan Ali, will meet next Thursday, December 14 in Caribbean territory to discuss the border controversy between both South American countries.

The meeting will be held with the support of the Community of Latin American and Caribbean States (Celac) and the Caribbean Community (Caricom), as detailed in a letter sent by Gonsalves to Maduro and Ali.

Given the border controversy between Guyana and Venezuela over the Essequibo area, the leaders of Celac and Caricom have evaluated “the urgent need to reduce the escalation of the conflict and institute an appropriate face-to-face dialogue” between the presidents of both countries.

“Experience has taught humanity that it is mature, wise and preferable for leaders of nations in conflict to speak to each other calmly, respectfully and patiently, to avoid escalation that leads to threats or the use of force,” he said. Gonsalves.

Carta del Primer Ministro de San Vicente y las Granadinas, Ralph Gonsalves, al Presidente Irfaan Ali y al Presidente Nicolas Maduro sobre la reunión facilitada por la CELAC y la CARICOM. #9Dic #MiMapa

"El Primer Ministro de San Vicente y las Granadinas Indias Occidentales
09 de… pic.twitter.com/9bRR7OBXYB

— Mi Mapa de Venezuela incluye nuestro Esequibo (@AntroCanal) December 9, 2023

Taken from Doble Llave

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The International Court of Justice reported in a statement that it “will hold public hearings on the request for indication of provisional measures presented by Guyana in the case relating to the Arbitration Award of October 3, 1899 (Guyana v. Venezuela) on November 14, 2023.”

Guyana’s request has to do with the Consultative Referendum called by the Venezuelan authorities for next December 3.

The ICJ recalls that Guyana requested to confirm the validity of the boundary between the Colony of British Guiana and the United States of Venezuela of October 3, 1899, which grants the sovereignty of the 160,000 square kilometers of this territory to Guyana, which has important natural resources – oil, gas, mining, hydraulic and forestry – and great tourism potential.

Specifically, Guyana argues that Caracas agreed to give up Essequibo after the ruling in 1899, but that Venezuela later retracted the decision. For its part, Caracas relies on the agreement signed in 1966 in Geneva between Venezuela and the United Kingdom, the former colonial power of Guyana, which recognizes that Essequibo is a disputed territory.

Last Wednesday, Guyana requested “urgent protection” from the ICJ “in response to Venezuela’s sinister plan to seize Guyanese territory.” However, the Venezuelan Government has criticized “the tricks” of the Guyana government and its strategy to “destabilize the region” and “appropriate” this territory.

Source: dpa

(Referential image source: CIJ-IJC / UN-ONU / Capital Photos / F / Europa Press / dpa)

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Members of the Omega Industrial Group and other Mexican businessmen met with the President of Guyana, Mohamed Irfaan Ali in order to analyze the feasibility of a group of infrastructure projects that could be developed in the South American country, as reported by the Government of Guyana on the official website.

The information highlights the visit made by Andrés Holzer, CEO of the Industrial Omega group in order to reach future investment agreements. One of the projects studied and presented by the President of Guyana is the construction of a bridge over the Corentyne River, which will link Guyana and Suriname.

Another investment project that will generate a great impact is the construction of a metropolis, called “Silica City”, which plans to build a new city in Demerara-Mahaica, located in Region 4 of Guyana and where the capital, Georgetown, is located.

Other Mexican businessmen and various ministers and representatives of the government of Guyana also participated in the meeting and expressed the possibility of executing projects with social impact such as the construction of houses, hospitals and roads.

Investors interested in Guyana oil

The infrastructure in a country is key for the development of all sectors within a country. That is why investors recommended having roads in good condition between different locations, especially between Lethem and Linden, to improve trade between Guyana and Brazil.

Holzer and the other Mexican investors highlighted as areas of interest “an oil refinery and a new terminal at Cheddi Jagan International Airport.”

The president also expressed to Holzer his desire that “Guyana products be sold in duty-free shops at airports around the world,” taking advantage of the fact that the Mexican’s company is in charge of managing such establishments in 64 countries.

M. Rodríguez

Source: swissinfo.ch

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