Venezuela objects to oil exploration off neighboring Guyana

[Zorro]

Guyana said Sunday that neighboring Venezuela is objecting to oil exploration in contested waters off the smaller South American country's coast.

There has been a decades-long territorial dispute between South America's biggest oil producer and sparsely populated Guyana, one of the region's poorest nations.

Guyana's foreign affairs ministry said that Caracas objects to plans for an exploratory well to be drilled in an area it contends is within Guyana's territorial waters. A subsidiary of U.S.-based Exxon Mobil Corp plans to conduct exploratory drilling later this month under a Guyana concession.

Guyana said it is requesting that Venezuela "desist from taking any actions that could only result in the stymieing of the development of Guyana."

http://news.yahoo.com/venezuela-objects-oil-exploration-off-neighboring-guyana-162655126.html

[hack89]

1. VZ can play the cut throat capitalist game when they want to. nt

[Zorro]

2. I'd keep my eye on this

Maduro might think it advantageous to take military action against a much weaker neighbor to a) fight against the proxies (e.g. oil companies) of the evil empire, and b) distract from the current mess in Venezuela.

Could be a combustible situation.