GEORGETOWN, Guyana– The Guyana government Tuesday announced that it would be seeking expressions of interest (EOI) from the private sector to construct a small modular 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. Irfan Ali said at the formal unveiling of the ISO Standard for the Guyana Office for Investment (GO-Invest).
President Ali said his government intends to create an enabling investment environment and that GO-Invest is instrumental.
The government had previously said it would support a privately developed oil refinery in Guyana but had received 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 build the refinery near the Berbice river possibly. Still, with newer technologies, such a facility would be expected to minimize emissions.
“I think it is essential 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 shortly,” 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 daily in another three years.
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