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The Guardian - UK
The Guardian - UK
World
Amy Westervelt

Could Guyana’s Exxon ruling scare big oil off risky exploration?

Exxon Oil Guyana British Petroleum EPA Insurance Caribbean
The Exxon Mobil Corp building in Georgetown, Guyana
The Exxon Mobil Corp building in Georgetown, Guyana Photograph: Reuters

A ruling from Guyana’s high court could change the face of offshore oil drilling throughout the Caribbean, according to financial and legal analysts.

The ruling ordered the country’s Environmental Protection Agency (EPA) to require an independent liability insurance policy from Esso Exploration and Production Guyana Limited (EEPGL) and an “unlimited guarantee” from its parent company, ExxonMobil, in the case of any damage caused by the company’s oil and gas development in the country.

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