Suriname awaits new president, new oil policy

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Suriname’s president Desi Bouterse has conceded defeat in the emerging oil producer’s 25 May parliamentary elections, two days after the country’s electoral council declared the official results, Argus Media said in a report on Monday.

This clears the way for the installation of a new government likely to be led by former justice minister Chandrikapersad Santokhi of the main opposition Progressive Reform Party (VHP).

In its policy statement, the VHP pledges a “reconstruction” of the country’s natural resources, without providing further details.

State-owned Staatsolie is seeking to emulate neighboring Guyana, where ExxonMobil’s offshore discoveries will make the country a significant producer in five years.

Read the full report HERE

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