Guyana, along with long-standing South American petro giants, Brazil and Argentina, continue to be in the ‘front row’ of countries in the hemisphere in terms of crude oil production, according to a September 4 disclosure by the globally regarded, Oslo-based independent energy research and business intelligence company, Rystaad Energy.
While the company asserts that South America, on the whole, experienced what it describes as “significant growth in crude oil production” it asserted that Venezuela’s oil production while currently “recovering” faces an uncertain future “due to political factors.” With regard to the outlook for Guyana, going forward, Rystaad asserts that the country’s “crude and concentrate production for August was projected to average around 520,000 bpd,” a 120,000 bpd m/m jump from July’s average of 400,000 bpd though it noted that this was “well below the country’s first-half average of 626,000 bpd.”
