Will Venezuela Go To War Over Oil?

Viktor Katona, OilPrice.com

January 2021 is still far from over yet the pages of Oilprice already boast 6 articles about Guyana being the hottest drilling spot in the world. 

This is hardly surprising, considering the hot streak that ExxonMobil had over the past 5 years, with new companies coming in and stepping up the drilling game. 

The interest globally attributed to Guyana has aggravated Venezuela’s long-standing grievances over the disputed Essequibo province – before 2015 the Venezuela vs Guyana oil standoff was akin to a David vs Goliath story but now, with Guyana building up its oil reserves tally and continuing to attract new investors, the balance has become a lot more nuanced. 

Amidst all of this, Venezuelan President Nicolás Maduro has pledged to reconquer Essequibo. 


WNU Editor: Who knows what Venezuelan President Maduro is thinking. But what is known is that his government has claimed almost three quarters of Guyana, including the oil rich regions off its coast, and Maduro has been consistent in threatening to invade Guyana.