Oil exploration in Guyana

Global Business

As votes continue to be counted in the Guyana election one of the prominent issues for both the government and opposition campaigns has been the country’s oil exploration efforts. Unlike almost all its neighbors, Guyana is not yet an oil producer. But last week Exxon Mobil announced it had discovered oil off the coast.

It is not yet clear if the amount is commercially viable. And while the discovery is welcome news for Guyana could potentially fuel a long-time territorial dispute with its neighbor, Venezuela. CCTV America’s Stephen Gibbs filed this report from Georgetown, Guyana.

Oil exploration in Guyana

Oil exploration in Guyana

As votes continue to be counted in the Guyana election one of the prominent issues for both the government and opposition campaigns has been the country's oil exploration efforts. Unlike almost all its neighbors, Guyana is not yet an oil producer. But last week Exxon Mobil announced it had discovered oil off the coast.