The U.S.-Venezuela-Guyana Oil Triangle
▻https://drilled.media/news/guyana-venezuela
While it may have known there was oil in those [Guyana’s] waters all along, ExxonMobil didn’t officially announce its find until 2015, after Shell had left the partnership. Within a few years it was already shipping its first barrel and announcing that #Guyana would soon be its most productive oil field in the world, outpacing even its Texas stronghold in the Permian basin. Chevron bought into the project in 2024 via its acquisition of Hess Corporation, a development Exxon fought fiercely but ultimately had to accept when an International Chamber of Commerce arbitration panel ruled in Chevron’s favor in July 2025. The project has faced a variety of lawsuits, protests, and criticisms, but the firm backing of the Guyanese government has enabled it to grow exponentially over the past decade. The one obstacle Exxon had not been able to shake was Maduro, who was growing increasingly obstinate in his claims that Guyana’s oil was actually #Venezuela’s.
What Is the Significance of Venezuela’s Naval Incursion into Guyana? [5 mars 2025]
▻https://www.csis.org/analysis/what-significance-venezuelas-naval-incursion-guyana
On March 1, a Venezuelan warship entered Guyana’s exclusive economic zone (EEZ), approached the Liza Destiny, an ExxonMobil oil facility, and demanded information from its crew. This provoked another escalation in the long-running conflict between the two countries. Guyana—with support from the broader international community—condemned the incursion and mobilized its own military, pledging to seek a peaceful resolution to the conflict but promising to protect the nation’s sovereignty. Venezuela responded in kind by alleging these waters form part of a contested maritime zone and refuted claims that it violated Guyana’s sovereignty.
[...] the Venezuelan Ministry of Foreign Affairs went so far as to send a communiqué calling President [of Guyana] Irfaan Ali the “Caribbean Zelensky.” It is well known that the Guyanese defense forces would not be able to match Venezuela’s capability in a protracted conflict without U.S. assistance.
[...] The consortium led by Exxon operates three FPSO vessels in these waters, with a fourth ship, the FPSO One Guyana, about to come on-line. This will bring the consortium’s production to an average of 940,000 barrels per day (bpd) later in 2025, from an average of 616,000 bpd in 2024. This new capacity means Guyana would eclipse Venezuela’s oil production. The intended message from March 1 was very clear: Guyana’s oil operations are at the mercy of Venezuela’s armed forces.
