The Venezuela-Guyana Essequibo dispute reignited in 2015 with ExxonMobil’s oil discovery, escalating under Maduro’s sovereignty claims. Recent actions include a contentious referendum and military exercises. Historical efforts temporarily eased tensions, but post-2015 incidents strained relations. Analysts view a Venezuelan military move as improbable, given global opposition, economic challenges, and unfavorable court rulings. Tensions persist, but military actions seem driven more by domestic considerations than a genuine threat.