Guyana Surpasses Venezuela as South America's Second-Largest Oil Producer

Guyana has emerged as a major oil exporter in South America, surpassing Venezuela and cementing its place among the continent's leading producers.

In just four years since the first discovery, Guyana's offshore oil industry has expanded rapidly, pumping nearly one million barrels per day at the end of May 2026.

The country's rapid expansion is largely due to ExxonMobil's $12.7 billion Uaru project, which will add 250,000 barrels per day to Guyana's petroleum output when it reaches capacity in 2026.

This will make Guyana the continent's second-largest oil producer behind Brazil, with a total production of over one million barrels daily by 2030.