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Guyana

Yearbook 2016

Guyana. At the end of October, the US oil company ExxonMobil announced that a large oil deposit had been made in the sea off the coast of Guyana. The discovery was the third that ExxonMobil has made since May 2015 and the deposits are estimated to amount to at least 3 billion barrels, which could mean production of 100,000 barrels a day. The country's natural resources minister Raphael Trotman described the deposits as "explosive upheaval" for the country's economic and social development. However, analysts warned that optimism may be rushed and that the costs of infrastructure and extraction would exceed Guyana's financial capacity.

2016 Guyana

According to countryaah, another concern was that all discoveries were made in the 26,800-square-kilometer maritime zone (the Stabroek Block), which is an extension of the Essequibo area, after many decades being subject to a diplomatic conflict with neighboring Venezuela. The reactions therefrom were not immediately startling, but analysts pointed to the fact that Venezuela's domestic political and economically unstable situation could cause the government there to intensify its territorial demands on the oil-rich Essequibo. That the border dispute is still alive was shown by an incident in May when the Venezuelan military fired Guyanese government officials at the Cuyuni border.

A riot at Camp Street Prison in Georgetown in March led to the deaths of 17 prisoners and intense debate over Guyana's notoriously bleak crime statistics and congested prison systems. At the same time, the country's police department announced that the heavy crime rate had fallen by 14% during the first quarter of the year, mainly the number of rapes and robberies, while the murder rate remained high.

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