GUYANA stands on the precipice of a historic transformation. With its rapidly expanding oil production, the nation is poised to become the world’s largest oil producer per capita, surpassing energy giants like Qatar and Kuwait. This remarkable feat has positioned Guyana as a key player in the global energy landscape, attracting international attention, including that of the United States.

During a recent press briefing, US Special Envoy for Latin America, Mauricio Claver-Carone lauded Guyana’s ascent, describing it as “one of the greatest stories of the last five years.” His remarks underscored the growing recognition of Guyana’s potential and the US government’s commitment to supporting its development. Unlike past policies that sought to hinder hydrocarbon progress in favour of renewables, the current US administration acknowledges that oil and renewable energy must co-exist as complementary forces rather than competing entities.

Beyond energy production, Guyana’s newfound economic strength comes with heightened security challenges. The persistent territorial threats from Venezuela, including the recent incursion into Guyana’s Exclusive Economic Zone (EEZ) by a Venezuelan naval vessel, serve as stark reminders of the geopolitical complexities that accompany resource wealth. The US has reaffirmed its commitment to safeguarding Guyana’s sovereignty, with Claver-Carone stressing the importance of “binding security co-operation” to counter these threats.

Since joining the ranks of oil-producing nations five years ago, Guyana has made substantial strides in its energy sector. ExxonMobil, in partnership with Hess and CNOOC, has achieved a production capacity of approximately 650,000 barrels per day, with over 500 million barrels of oil extracted. These achievements have fueled broader economic growth, evidenced by Guyana’s 43 per cent economic expansion in 2024. The Caribbean Development Bank (CDB) has identified Guyana as a major contributor to the region’s impressive 8.8% growth rate.
Crucially, the government has prioritized ensuring that oil wealth translates into tangible benefits for its citizens. Among its most ambitious initiatives is the gas-to-energy project, slated for completion in 2025. By utilizing offshore natural gas to replace heavy fuel oil for power generation, the project is

expected to reduce electricity costs, lower emissions, and stabilize the nation’s energy supply—an essential step towards sustainable development.
Guyana’s oil-fueled economic boom has implications that extend far beyond its borders. As a driving force behind Caribbean economic expansion, the nation is proving that strategic resource management can uplift an entire region. The coming years will be critical in determining how effectively Guyana

leverages its wealth for long-term prosperity. While the potential for unprecedented progress is clear, so too are the challenges of maintaining security, fostering equitable growth, and balancing environmental responsibilities.

As President, Dr. Mohamed Irfaan Ali prepares to meet with US Secretary of State, Marco Rubio for a joint press briefing today, the world will be watching. The decisions made today will shape Guyana’s future as an energy powerhouse and regional leader. The opportunity before us is immense, as such, how it is seized will define Guyana’s legacy for generations to come.