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Friday, March 17, 2017

Venezuela says oil operations in Guyana violates agreement

The Energy and Petroleum Commission in Venezuela has rejected the oil operations in Guyana’s Essequibo region.According to a report in El Nacional — a Venezuelan newspaper, the Energy and Petroleum Commission of its National Assembly said that it is convinced that the ongoing oil exploration violates the Geneva agreement of 1966 and Article 10 of The Bolivarian Constitution of Venezuela, “which clearly establishes the Venezuelan territory”. Venezuela has been claiming Guyana’s territory for several decades although the issue was settled since 1899. According to the report, vice-president of the parliamentary body, deputy for Zulia, Elías Matta, tabled the draft agreement, explaining that, “As stipulated in Article 5 of the Geneva Agreement, no resource can be exploited if there is no agreement between both nations”.“Deputy Matta said the Guyana government carried out the expansion of oil prospecting operations in May 2015, in which Exxon-Mobil reported a discovery at the Liza-1 well on the Stabroek and Block. More…

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