Financial Times: How Guyana can avoid the curse of oil – The commodity can bring both wealth and trouble and it is easy to think of countries that have been damaged by its discovery
The hottest new prospect for the world’s oil industry is Guyana, a small, relatively poor, country on the north-eastern coast of Latin America. Over the past year, a series of discoveries by ExxonMobil have identified 3.2bn barrels of oil in the Stabroek block around 120 miles offshore. Given Exxon’s traditional caution, the actual reserves could…