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Guyana's Oil Production Surges, Reignites Conflict
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Overview
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Guyana's oil production has surged from 67,000 barrels per day in 2015 to around 400,000 in 2023, ranking 31st in oil production. Major oil companies like ExxonMobil, Chevron, and China National Offshore Oil Corporation are involved in the search and exploitation of oil fields in Guyana. The potential value of these assets is reflected in Chevron's $53 billion acquisition of Hess.
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How might the involvement of major oil companies impact Guyana's economy?
What are the implications of Guyana's increased oil production for the global oil market?
What are the potential consequences of the conflict between Venezuela and Guyana?
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