In a landmark announcement on October 2, 2025, Guyana’s President Irfaan Ali revealed the nation’s ambitious plan to enter the global crude oil trading market. Speaking at the Georgetown Chamber of Commerce and Industry’s (GCCI) “Energy Insights” breakfast forum, President Ali outlined a strategic initiative to leverage both local and international expertise to establish Guyana’s presence in the crude oil trade. The plan includes hiring experienced crude oil traders to facilitate knowledge transfer and operational readiness while the country develops its infrastructure and human capital. This move is expected to create significant economic opportunities for Guyana, which is projected to increase its oil production from 650,000 barrels per day to 1.2 million barrels per day by 2030. The initiative will involve collaboration with the domestic private sector and international partners, ensuring Guyana’s ability to trade its crude oil independently in the future. Additionally, Guyana is implementing a competitive bidding system to select a crude marketing firm for its 50% share of profit oil from the Stabroek Block. The announcement coincided with updates from ExxonMobil Guyana, which reported that its Floating Production Storage and Offloading (FPSO) vessel, One Guyana, is nearing its full capacity of 250,000 barrels per day. ExxonMobil is also advancing plans for its eighth project, Longtail, which holds substantial natural gas deposits and could support multiple industrial developments in Berbice.