The Atlantic waters off Guyana have become one of the world’s hottest oil-drilling zones. Now, international oil executives are looking at neighboring Suriname.
Exxon Mobil, Royal Dutch Shell, Total, Apache and several other companies are gearing up operations off Suriname’s coast. They hope that the South American country, which recently emerged from decades of authoritarian and corrupt governments, will be the next great oil source.
But the world has more than enough oil, and prices for petroleum products are relatively low. In addition, investor interest in oil companies is waning as concerns about climate change give momentum to electric vehicles and renewable energy.
Surinam, un hallazgo petrolero para una industria en contracción nytimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nytimes.com Daily Mail and Mail on Sunday newspapers.
Suriname Could Be Latest Big Oil Find as Industry Cuts Costs
The small South American country has become a hot prospect for oil companies looking to produce fossil fuels while spending less.
The docks of an abandoned mine in Moengotapoe, Suriname. The nation’s emergence as a potential oil-producing star could help a new government trying to remake the country.Credit.Adriana Loureiro Fernandez for The New York Times
The Atlantic waters off Guyana have become one of the world’s hottest oil-drilling zones. Now, international oil executives are looking at neighboring Suriname.
Exxon Mobil, Royal Dutch Shell, Total, Apache and several other companies are gearing up operations off Suriname’s coast. They hope that the South American country, which recently emerged from decades of authoritarian and corrupt governments, will be the next great oil source.
US crude oil production has fallen 2 million barrels per day in the last year as low prices and demand forced output cuts. , , opec, crude oil, oil prices, oil demand, brent crude