Guyana’s parliament passed an oil pollution bill that holds parties liable for damages caused by oil spills, including from vessels.
The bill requires responsible parties to provide financial assurance, conduct inspections, and face penalties like license suspension for non-compliance.
This move reflects increased oversight as Guyana’s oil production, led by the Exxon Mobil consortium, approaches 900,000 barrels per day this year.
The legislation aims to safeguard the environment amid the rapid growth of Guyana’s offshore energy industry.
The country became Latin America’s fifth largest oil exporter last year, supported by Exxon, U.S. Hess, and China’s CNOOC.
The new law is expected to strengthen accountability and environmental protection in this expanding sector.