Venezuela Claims Sovereignty Over Essequibo, Guyana Appeals to UN
Tensions rise as oil-rich territory dispute escalates, UN Security Council takes no immediate action.
- Venezuela's recent referendum approved the claim of sovereignty over Essequibo, a mineral-rich territory that accounts for two-thirds of Guyana and lies near big offshore oil deposits.
- Guyana maintains the initial accord is legal and binding and asked the United Nations’ top court in 2018 to rule it as such, but a decision is years away.
- Major oil deposits were first discovered off Essequibo’s shore by an ExxonMobil-led consortium in 2015, turning Guyana into the world’s fourth-largest offshore oil producer.
- Venezuelan President Nicolás Maduro has ordered Venezuela’s state-owned companies to immediately begin exploration in the disputed region.
- The United Nations Security Council took no immediate action at a closed emergency meeting requested by Guyana after Venezuela’s referendum.
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