Guyana’s President, His Excellency Dr. Mohamed Irfaan Ali has said current levels of global energy investment are not enough to meet rising demand, as he called for a more balanced approach to energy security and the energy transition. 

Ali made the comments on Monday at the opening of the 2026 Offshore Technology Conference in Houston, where he addressed industry leaders on the need for continued investment across the energy sector. 

 
 

According to Reuters, Ali said there is a growing gap between global energy supply and demand, with geopolitical tensions and potential supply disruptions placing additional pressure on markets. He pointed to risks around the Strait of Hormuz, one of the world’s most important routes for oil and gas shipments, as an example of the vulnerabilities facing the global energy system. 

The Guyanese President said the world should focus on “energy balance” rather than viewing the energy transition as a shift away from one source of energy to another. He said renewable energy will remain important, but oil and gas will continue to be needed to support economic growth, energy security and affordability. 

Ali’s remarks come as Guyana continues to expand its role as a major offshore oil producer. The country began producing oil in 2019 and has since become one of the fastest-growing producers globally, led by developments in the ExxonMobil-operated Stabroek Block. 

Reuters reported that Guyana is now producing more than 900,000 barrels of oil per day. Production is expected to continue rising as additional offshore projects are developed. 

Ali also highlighted concerns around the energy transition’s dependence on critical minerals, which are needed for technologies such as batteries, electric vehicles and renewable energy systems. He warned that the world must avoid replacing one form of energy dependency with another. 

Guyana’s Department of Public Information also reported that Ali used his address to highlight regional energy cooperation, including work with Suriname, Brazil and French Guiana on power infrastructure and interconnection systems. 

The comments come as Guyana seeks to use its oil and gas sector to support wider economic development, while also investing in gas-to-energy infrastructure, renewable energy and regional energy partnerships. 

Ali told the conference that the world needs an approach that supports both energy security and long-term sustainability, as demand continues to rise across developed and developing economies.