The Guyana government announced that it will be seeking expressions of interest (EOI) from the private sector for the construction of a small modular oil refinery with a capacity of 30,000 barrels per day to satisfy local fuel demand.
“We are looking at the launch of an expression of interest for a 30,000 barrel refinery. This expression of interest will be launched soon,” President Dr. irfaan Ali said at the formal unveiling of the ISO Standard for the Guyana Office for Investment (GO-Invest).
President Ali said his government is intent on creating an enabling investment environment and that the GO-Invest is instrumental in this regard.
The government had said previously it would support a privately developed oil refinery in Guyana but had been receiving numerous proposals for small refineries, including six proposals for a refinery in Berbice.
GO-Invest chief executive officer, Peter Ramsaroop said the government hoped to possibly build the refinery near a river in Berbice but with newer technologies, it is hoped that such a facility would minimize emissions.
“I think it is very important for Guyana to look at how it can sustain itself in the long term and I think the refinery is just one more step of us looking at our needs in the near future,” Ramsaroop told reporters.
Guyana recently ordered the reduction of gasoline and diesel prices by double-digit percent to ease the pass-through of fuel prices on goods and services. The country is expected to produce almost one million barrels of oil per day in another three years
CMC/
