The UK has deployed its Royal Navy Patrol vessel HMS Trent near Guyana. Venezuelan President Maduro has slammed this move as a provocation and asked 5,600 troops to launch a defensive exercise near the border. The neighbours are locked in a dispute over the oil-rich Esequibo region. Will this lead to an oil war in South America?

Gravitas | Will there be an oil war in South America?

On December 15, Guyana and Venezuela agreed to resolve the Essequibo dispute without the use of force. With that, the threat of a military conflict is over - at least for now.

Guyana-Venezuela tensions: How oil discovery revived Essequibo crisis

Guyanese president Mohamed Irfan Ali met his Venezuelan counterpart on Thursday. Fresh tensions erupted after Venezuela released a map on the 8th of December showing the disputed area as a part of its territory. This after Venezuelans voted for the creation of a new state in a referendum defying the international court of justice's jurisdiction.

Venezuela-Guyana dispute: Presidents of Venezuela and Guyana meet amid tensions

'The last thing the world needs right now is another War,' Brazilian President Lula De Silva said while talking about the Venezuela and Guyana row over Essequibo, a resource reach region located offshore in Guyana.

Venezuela-Guyana dispute: We don't need a war in South America, says Brazilian President

Tensions between neighbouring countries of Venezuela and Guyana have escalated in recent weeks. The US is holding military drills with Guyana. The dispute is regarding a border territory around the Essequibo River.

US-Guyana conduct joint military drills amid tensions

Tension is steadily rising between Venezuela and Guyana ever since the former has renewed its claim on Essequibo- an oil-rich region in Guyana. Maduro's government held a referendum in which 95% of the voters backed their country's claim over Essequibo. Guyana called the referendum a threat. This did not stop Maduro from asking his country's oil companies to start issuing licenses for oil extraction in the Guyanese territory. The U.S. has taken a side, and the International Court of Justice has given an order. Is an oil war brewing? Listen in to Vikram Chandra.

Essequibo: Is Venezuela's Maduro starting an oil war in South America?

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