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Oil-rich Guyana eyes carbon offset as lucrative revenue stream

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Guyana, which has pioneered offshore oil exploration, is leveraging its inland forests to access carbon markets, a business that the government sees as more profitable than mining or agriculture, Vice President Bharrat Jagdeo said.

The South American country, which has 90% of its territory covered by forests, is one of the fastest growing oil producing nations after a consortium led by Exxon Mobil Corp (XOM.N) discovered billions of barrels of oil in the last decade.

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