Update (1600ET): The situation in Guayana is rapidly deteriorating, as Venezuelan President Nicolas Maduro has issued arrest warrants for opposition politicians who are challenging his move to annex oil-rich Essequibo.
As Charles Kennedy of OilPrice.com reports; Maduro has officially placed the disputed territory of oil-rich Essequibo under military jurisdiction, putting oil exploration and production operations of Exxon and Chevron at risk.
Following a Sunday referendum, Venezuelan President Nicolas Maduro has declared the return of Essequibo, which represents some two-thirds of Guyana’s territory, to Venezuela.
According to T&T News, Venezuela’s Prosecutor's Office has issued arrest warrants for a dozen opposition members, including former National Assembly head Juan Guaido and three members of staff of opposition presidential candidate Maria Corina Machado. The three are charged with conspiring against the Sunday referendum to annex Essequibo.
The recent temporary easing of U.S. oil sanctions on Venezuela were conditioned on the holding of free and fair elections in 2024.
.
While the U.S. has offered Guyana “unwavering support for Guyana’s sovereignty”, there has been no concrete talk of reversing the easing of sanctions based on Maduro’s actions.
Exxon, which is targeting 1.2 million barrels per day of crude output from Guyana’s offshore Stabroek oil block by the end of 2027, has refrained from commenting on the developing situation, telling journalists earlier this week only that it believes “border issues are matters for governments and appropriate international organizations to address”.
In a comment shared with IBT on Wednesday, Chevron said: "Chevron has a long history and excellent record of being a partner of choice in the countries in which we have operations. We always aim to be, and we are a constructive presence in the countries where we operate."
A consortium controlled by ExxonMobil holds a 45% in the Stabroek block, with Chevron, which recently acquired Hess, holding a 30% stake and China’s CNOOC holding a 25% stake.
On Tuesday, Maduro vowed to begin handing out exploration and extraction licenses “immediately” and ordered full compliance from foreign oil companies operating in the area.
Both U.S. and Guyanese officials have shared their hopes for a peaceful resolution with Venezuela. Guyana's president, Irfaan Ali, told CBS News in a Tuesday interview that the country would prepare military assets with its allies to ready itself for "the worst case scenario," but said he hopes the conflict does not come to that.
"Our first line of defense is diplomacy," Ali told CBS News, adding that Guyana has reached out to leaders abroad, including in the U.S., India and Cuba, hoping that "they can encourage Venezuela to do what is right, and ensure that they do not act in a reckless or adventurous manner that could disrupt the peace within this zone." -CBS News
The Maduro administration, meanwhile, has blasted the drills as a "provocation."
"This unfortunate provocation by the United States in favor... of ExxonMobil in Guyana is another step in the wrong direction. We warn that we will not be diverted from our future actions for the recovery of the Essequibo," said Venezuelan Defense Minister Vladimir Padrino Lopez in a post to X.
* * *
Meanwhile, the United States announced joint military drills in Guyana on Thursday.
"In collaboration with the Guyana Defense Force, the U.S. Southern Command will conduct flight operations within Guyana on December 7," the US Embassy in Guyana said in a statement, calling the flights part of "routine engagement and operations to enhance security partnership" between the US and Guyana and "to strengthen regional cooperation."
"The U.S. will continue its commitment as Guyana's trusted security partner and promoting regional cooperation and interoperability," the statement continued.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.