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Guyana Sets Sight on First Oil Refinery

10/17/2022

Guyana has recently called out for proposals to design, finance and construct a grassroots 30,000 barrel per day refinery, which would be the first one in the country’s history. Guyana President Mohamed Irfaan Ali remarked during a public event that “In two months’ time, we will be receiving the submissions from those who are interested in building this”.

ExxonMobil will be heading up a yet to be identified consortium for this refinery, which will be placed on public land somewhere near the Berbice River. Guyana is not expected to be one of the stakeholders in this consortium, but the country will provide the crude supply and fiscal incentives for the project. Physical construction is being hoped for in the first half of 2023 with a targeted startup date in 2025.