Guyana

Guyana is a country on the northern coast of South America, bordered by Venezuela to the west, Brazil to the south and Suriname to the east. The capital is Georgetown. With a population of about 800,000, Guyana is one of the least densely populated countries in the region. The economy has been transformed since 2015 by the discovery of substantial offshore oil reserves, particularly in the Stabroek Block, which have positioned the country as one of the world's fastest-growing oil producers. Traditional economic pillars include bauxite mining, gold, sugar and rice, but hydrocarbons now dominate export revenues and fiscal planning. The currency is the Guyanese dollar. Guyana is a parliamentary republic and a member of the Caribbean Community (Caricom), the Commonwealth and the Union of South American Nations. Oil production, operated by international majors including ExxonMobil, Hess and CNOOC, began in 2019 and has since expanded rapidly through a series of floating production, storage and offloading (FPSO) vessels. The country faces ongoing territorial disputes with Venezuela over the Essequibo region. Guyana gained independence from the United Kingdom in 1966 and became a republic in 1970.