Guyana considered as one of the top four oil producers  – Global Energy VP

Guyana has been considered one of the top four incremental producers of oil.

This is according to Senior Vice President for Global Energy and International Affairs, S&P Global Commodity Insights, Carlos Pascual, while making a presentation at the Guyana Energy Conference and Supply Chain Expo 2024 on Tuesday.

Addressing a full auditorium at the Marriott Hotel in Kingston, Georgetown, Pascual emphasised that understanding the realities of geopolitics enables Guyana to comprehend how global dynamics shape its ability to foster investments, draw capital resources, and enact transformative changes.

For context, geopolitics is the study of the influence of factors such as geography, economics, and demography on politics and the foreign policy of a state.

“Understanding it will show you something about the constraints, but it will also show you something about the opportunities as to why Guyana is so important to the world today,” Pascual stated.

According to the senior vice president, Guyana is well on its way to producing oil at the same level as the world’s top suppliers.  

“Guyana is one of the top four incremental producers of oil in the world…Incremental capacity is contributing to an international system that adds to the stability of security and supply…It is a factor of supply and demand,” Pascual explained.

He added that while there is a stable supply of oil, Guyana is also offering the world a net negative carbon economy, which he described as ‘unique.’

The Energy Conference and Supply Chain Expo 2024 is ongoing at the Guyana Marriott Hotel in Kingston, Georgetown, where several international delegates are attending to contribute to energy and its evolution.