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Oil Rich Essequibo

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politics2 years ago

"Venezuela's Maduro Targets Opposition Figures Amidst Guyana Invasion Preparations"

Venezuelan President Nicolas Maduro has issued arrest warrants for opposition politicians challenging his move to annex oil-rich Essequibo, as he seeks to maintain his presidency amidst falling popularity. Maduro has placed the disputed territory under military jurisdiction, putting Exxon and Chevron's oil operations at risk. Following a referendum, Maduro declared the return of Essequibo to Venezuela, leading to the arrest warrants for opposition members. The recent easing of U.S. oil sanctions on Venezuela was conditioned on holding free and fair elections in 2024, but there has been no talk of reversing the easing based on Maduro's actions. Exxon and Chevron have refrained from commenting on the situation, while Maduro vows to hand out exploration and extraction licenses in the area.