Generic Hero BannerGeneric Hero Banner
Latest Market News

Energy security tops Rubio's Caribbean visit agenda

  • : Crude oil, Electricity, Natural gas
  • 25/03/25

Energy security is the "big opportunity holistically" of US secretary of state Marco Rubio's planned visit this week to Jamaica, Guyana and Suriname, US special envoy for Latin America Mauricio Claver-Carone said.

The island nations that are net importers of crude and other energy products have a chance to "turn the page" to improve energy security and reduce prices, the envoy said today in a state department briefing to press.

The trip comes after the US said this week it would impose a 25pc discretionary tariff on imports from countries that buy Venezuelan crude. Several nations in the past received crude from their South American neighbor through its PetroCaribe aid program which is largely defunct, other than shipments to Cuba.

Trinidad has also sought to develop cross-border natural gas fields with Venezuela to boost its flagging production, but the US announcement further complicates this plan.

"Along with a lot of the challenges posed with Venezuela, we're deeply committed to working with Trinidad to figuring out how to re-energize ... those natural gas opportunities," Claver-Carone said.

Booming oil producer Guyana in turn has faced a border dispute with Venezuela, and the US hopes to discuss "binding security cooperation" to solve this problem during Rubio's visit.

Along with Guyana's neighbor Suriname, which hopes to launch offshore crude production by 2028, the outlook for the region to increase energy production could end its "huge Achilles' heel to its economic development and security," Claver-Carone added.

Rubio will also discuss security, including improving conditions in Haiti, illegal migration and arms and drug trafficking during his visits on Wednesday and Thursday.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more