Guyana’s Vice President, Bharrat Jagdeo conveyed that foreign investors did not convey reservations about recent heightened aggression from Venezuela. The matter had raised international concern when overtures by Venezuela appeared to indicate a plan to annex Guyana’s Essequibo region.
During a Jan. 4 press conference, Jagdeo stated, “Not a single foreign investor called to express fear… to say they are not coming to Guyana, if they had planned something…”
He explained that only local companies expressed concern about the impact of the controversy on their business.
Some analysts who were closely monitoring the escalation did not believe that Venezuelan President, Nicolas Maduro posed any real threat to Guyana’s investment climate or investors.
Rystad Energy’s Managing Director for Latin America, Schreiner Parker had told OilNOW that Venezuela is an “international pariah state” with their threat not seriously being considered as a “potential issue”.
Energy Director at Americas Market Intelligence, Arthur Deakin, believed the Venezuelan government’s actions were meant to rile up voters ahead of presidential elections expected this year.
Maduro’s threats targeted in part oil companies operating in Guyana. He said they would have three months to leave the Essequibo territory following the passing of a law.
“…we have not been scared away by Venezuela…that’s why we’re still working in Guyana. That’s why we anticipate continuing to do so for decades to come,” ExxonMobil Guyana President, Alistair Routledge Routledge told reporters on October 17.
‘We are not going anywhere’, says Exxon on its Guyana operations
Guyana President Dr. Mohamed Irfaan Ali has assured all companies operating in the territory that their investments are secure.
