Guyana passes oil spill liability bill 

Guyana’s parliament passed new legislation late Friday to hold companies liable for damages caused by oil spills, including from vessels, as the country’s offshore oil production nears 900,000 barrels per day (bpd).

Approved by voice vote, the bill requires oil operators to provide financial guarantees for spill-related costs, undergo regular inspections, and face penalties—including licence suspensions—for non-compliance.

The move comes as Guyana, now Latin America’s fifth-largest oil exporter, seeks to strengthen oversight of its rapidly growing oil sector, led by an ExxonMobil consortium that includes Hess and CNOOC. The group pumped 631,000 bpd in the first quarter of 2025, up 3 per cent year-on-year (YoY).

Attribution: Reuters

Subediting: M. S. Salama