GUYANA is emerging as a far more attractive destination for energy investment than neighbouring Venezuela, according to United States (U.S.) politician, Marco Rubio, who highlighted investor concerns over legal security and contract enforcement in Caracas.
Rubio noted that while Venezuela possesses vast oil reserves, international companies are increasingly inclined to channel capital into jurisdictions such as Guyana, where the business environment is viewed as more predictable.
“Venezuela has a lot of oil. They do, but there’s a lot of oil in other places too,” he said, warning that without credible guarantees, “companies are only going to invest somewhere if they know we’re going to invest, we’re going to make our money back with a profit,” he said while responding to questions during testimony before the Senate Foreign Relations Committee on Tuesday.
He noted that global energy firms will only commit funds where they can be confident of making a profit and where their assets are protected from arbitrary seizure.
“That’s what is part of this transition process, that’s part of this recovery process [which]is to normalise their industry, because, if not, they’ll just invest the money in Guyana, or they’ll just invest the money in some other part of the world that has oil. They’re not going to risk it, “he said, adding that investors expect access to independent courts and enforceable contracts.
Rubio noted that Venezuela has fallen behind newer producers like Guyana, which has rapidly risen in prominence following major offshore discoveries.
Unless Venezuela can “normalise” its industry and strengthen the rule of law, he suggested, investors will continue to favour Guyana and other markets offering clearer legal protections and a lower perception of political risk.
Guyana’s Minister within the Office of the President with responsibility for Finance, Ashni Singh, told the country’s national assembly on Monday that the extractive industries experienced some of the most significant gains, expanding by 21 per cent in 2025. Oil production for 2025 reached 261.1 million barrels, thanks to the startup of the One Guyana Floating Production Storage and Offloading (FPSO) vessel.
Dr. Singh was at the time presenting the country’s fiscal package for 2026.
He noted that the Stabroek Block, on average, produced crude oil at a rate of just below 830,000 barrels per day (bpd), with the Liza Destiny FPSO producing an average rate of approximately 134,300 bpd, the Liza Unity FPSO at 249,500 bpd, the Prosperity FPSO at a rate of 255,200 bpd, and the One Guyana FPSO at just under 191,000 bpd.
