Gov’t now pursuing local oil refinery

The Government of Guyana will soon launch an Expression of Interest (EoI) for the establishment of a local oil refinery, President Dr. Irfaan Ali announced on Tuesday.

“We’re looking at the launch of an EoI for a 30,000-barrel refinery,” the Head of State said during a briefing at his Shiv Chanderpaul Drive Office.

Previously, the Irfaan Ali-led government said it would support a privately developed oil refinery in Guyana. Even so, numerous proposals for small refineries, including six proposals for a refinery in Berbice had been received.

Other EoIs for key areas will be disseminated soon, he said too.

Chief Investment Officer of GO-Invest Dr. Peter Ramsaroop commented that this refinery could help Guyana meet its energy needs, particularly in periods of global shocks like the ongoing Ukraine/ Russian crisis.

He noted too that this refinery will most likely be a modular refinery. But specifics of the project will be left up to the proposals submitted by the investors.

Meanwhile, the President explained that his government is intent on creating an enabling investment environment.

And the Guyana Office for investment (GO-Invest), he said, is instrumental in this regard.

On Tuesday, President Ali presented the intentionally recognized ISO 9001 certification to the agency following the successful assessment of the body.