Rethinking Latin American Oil and Gas Market: Case of Guyana–Venezuela Dispute and its Influence on the Competitiveness of the Region

Inga A. Mezinova and Oleg V. Bodiagin

Chapter 22 in The Sustainable Development of the Entrepreneurial Economy in the Fifth Industrial Revolution, 2026, pp 257-268 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Over the past 17 years, the Republic of Guyana has demonstrated a new miracle of economic growth, progressing from a low-income state to a high-income economy (within the World Bank classification). The discovery and subsequent exploitation of substantial oil and gas reserves in the Essequibo Region have been identified as the primary drivers of this economic transformation. However, escalating a longstanding territorial dispute between Guyana and Venezuela over this territory raises significant concerns for regional security and competitiveness. It is an issue that threatens stability within the Latin America and the Caribbean (LAC) region and globally. This research aims to ascertain the present energy balance and examine the implications of the ongoing conflict. The findings of the research indicate that the resolution of this protracted dispute will necessitate the continuation of diplomatic efforts, respect for international law, and a commitment to peaceful coexistence between the two nations.

Keywords: Sustainable Development; Entrepreneurship; Innovation; Technology; Information Management; Organizational Behavior; Industrial Organization; Entrepreneurial Economy; Fifth Industrial Revolution; Cause-and-Effect Relationships; Fourth Industrial Revolution; Digital Technology; Industry 5.0; Operations Management; Operations Research; Supply Chain Management; Fintech; Cryptocurrency; Blockchain; Economics and Finance; Corporate Governance; Technological Environment; National Economy; State Management; Corporate Management; Agro-Industrial Complex 5.0; Fuel and Energy Complex 5.0; BRICS; EAEU; Central Asia; Social Responsibility; Digital Competitiveness; Digital Energy; Entrepreneurial Universities 5.0; Machine Learning; Cyber-Social System; Smart Company; Management of AI; Automatization; Decision-Making in Entrepreneurship; Big Data; Blockchain Finance; Robotisation Of Production; Applied Technological Solutions; Smart City; Local Entrepreneurial Economy; Modernisation; Institutes of Globalisation; E-Government; Innovative Economy; Knowledge Society; BRICS+ (search for similar items in EconPapers)
JEL-codes: L26 O33 Q01 (search for similar items in EconPapers)
Date: 2026
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