Spotlight on Guyana’s impending oil wealth

As ExxonMobil ramps up production from the Liza project, election buzz has caused murmurings that contracts should be renegotiated

Guyana will head to the polls in March for an election expected to determine whether the fledgling oil producer will renegotiate its share of offshore oil revenues, and, importantly, how best to employ its newly found prosperity. The election is the first in Guyana since 2015 and pits incumbent president , who leads the APNU-AFC coalition (A Partnership for National Unity / Alliance for Change), against Irfaan Ali of the PPP (People’s Progressive Party). Since the last election, a string of discoveries in Guyana’s waters have transformed the financial prospects of the small Latin American nation. In January, ExxonMobil added another discovery to its catalogue of finds in the Stabroek block