Guyana’s Oil Boom: Exxon’s Project Could Reshape Global Energy

Economic Impact

• The USD 6.8 billion investment is set to transform Guyana into a major global oil producer.

• Government revenues from taxes and royalties could significantly boost GDP and accelerate economic development.

Environmental Impact

• While the Hammerhead project will enhance energy supply, concerns remain over greenhouse gas emissions and potential effects on marine ecosystems.

• On the positive side, routing gas into domestic power generation helps reduce reliance on imported fuels.

Political Impact

• Guyana’s geopolitical importance will rise, particularly mawithin South America’s highly competitive oil landscape.

• With Exxon, Chevron, and CNOOC involved, Guyana gains stronger bargaining power on the international stage.