Guyana set to become the Region’s new Economic Giant | Trini.Online

Guyana set to become the Region’s new Economic Giant | Trini.Online

Natural Resources Minister - Raphael Trotman

Natural Resources Minister –
Raphael Trotman

Earlier this week at an Energy Chamber Conference being held in Port of Spain, Guyana’s Minister of Natural Resources, Mr. Raphael Trotman made the startling revelation that a massive offshore column of oil, which may hold 700 million barrels or more was discovered by Exxon Mobil.

Up to this point, Guyana was a poor nation saddled with a sizable external debt with which it has been struggling. It is still relatively under-developed with over 80% of its land area still under forests. Its GDP has remained positive through the export of: Rice, Sugar, Gold, Timber, Bauxite, Diamonds, Shrimp and Minerals. 

As news of this new oil find started to spread last year, Venezuela revived an old border dispute with Guyana [Read more]

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Comments

  • de castro  On January 24, 2016 at 4:36 am

    Share the sentiments of the right honourable gentleman but not his hopes that
    oil and its wealth creation will bring prosperity to Guyanese.
    North sea oil did not make Britain a rich country and observe what oil
    can do to some countries “economy”…..false hopes best not raised.
    Early days so best not comment further until the devil in the details
    is published / made public.
    Russia s economy is based primarily on oil and gas exports “observe”…
    Venezuela a similar scenario “observe”….learn from their mistakes.
    Eggs in one basket.
    However remain optimistic that right decisions will be made and openess and transparency will follow…..with anti corruption laws high up on the agenda.

    May add ….also observe Triniland post oil development.
    POS a dangerous city day or night.
    Just saying
    Kamtan

  • Clyde Duncan  On January 24, 2016 at 6:45 pm

    What Canada and Alberta could learn from Norway …. another pipe dream –

    http://credbc.ca/norways-oil-gas-policy/

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