Guyana lawmakers pass bill making companies liable for oil spill damages

It also includes penalties for companies that fail to comply with regulations, including the suspension of licenses to explore and produce oil for those that do not provide the financial assurance required.

Last year the country became Latin America's fifth largest oil exporter after Brazil, Mexico, Venezuela and Colombia. The Exxon group, which includes US Hess and China's CNOOC, produced an average of 631,000 bpd of oil in the first quarter, three per cent higher than in the same period last year.

(Reporting by Kemol King; Writing by Brendan O'Boyle; Editing by Diane Craft)