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News By Category: GUYANA

Security Exchange Newsletter | January | Americas

31 January 2020

USA - 2020 will be a busy political year for US politics. President Donald Trump is currently facing his impeachment trial in the Republican-dominated Senate. President Trump was impeached in the Democrat-controlled House of Representatives over charges linked to abuse of power and obstruction of Congress. He is accused of pressuring his Ukrainian counterpart, Volodymyr Zelenskiy, to investigate then US Vice-President Joe Biden – he is currently one of the front runners of the Democrat presidential race – and his son, Hunter Biden. Allegations emerged after President Trump was accused of threatening to withhold aid to Ukraine to exert pressure in the investigations. The impeachment trial comes in the same year as the US will hold its presidential election. President Trump is expected to run for another term in office, while the crowded Democratic battle continues. In a sign of division within the Republican establishment, President Trump has already been challenged ahead of the primaries by former Massachusetts Governor Bill Weld and former Congressman Joe Walsh. The elections come amid some scepticism towards the integrity of the US electoral process in the aftermath of the Russian-meddling investigations into the 2016 presidential vote. Although a 450-page report from Special Counsel Robert Mueller confirmed that no evidence of Russian involvement was identified, Democrats are still suspicious after Attorney General William Barr redacted parts of the document.

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Guyana's Oil Boom

07 February 2019

The US-based oil giant Exxon Mobil has announced that new oil discoveries have been made in the notorious Stabroek Block off northern Guyana. A dozen wells have been already discovered in the area, which spans 26,800 square kilometres in the Caribbean Sea. Exxon Mobil is leading exploration efforts, but other players also hold stakes, including the Chinese firm CNOOC, Hess Guyana Exploration and the French-based Total. Overall, the Stabroek Block is believed to hold more than five billion barrels of crude oil, with production expected to surpass 750,000 barrels per day until 2025. As drilling operations continue and further oil wells may be discovered, Guyana is currently facing a number of future challenges as the country is on track to become Latin America’s largest oil producer.

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