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Suriname’s new President Chan Santokhi addresses the audience after receiving the presidential sash from outgoing President Desi Bouterse, in Paramaribo, Suriname July 16, 2020. In Guyana, the economic windfall from a humongous offshore oil find in 2015 has already begun to manifest itself since production kicked off in late 2019. The country earns at least $7.6 million daily from production. With two more oil fields set to come on stream in the next three years, officials say the daily figure will more than double once global oil prices hold steady. In the next four years, neighboring Suriname will join Guyana…

Taking its cue from Guyana, which is earning nearly $7 million daily from offshore oil production, the government in neighboring Suriname says it will give every citizen living in the country a cash grant of US$750.00 each from future oil revenues. Announcing the package at the 49th independence anniversary celebrations on Monday, President Chan Santokhi clarified that the government will pay the money from royalties and other revenues after actual oil production begins in 2028   Total Energies of France, which is the lead player in the offshore production effort, had earlier this year made the crucial final investment decision…