VICE-PRESIDENT, Dr Bharrat Jagdeo, has said that, while Guyana is still exploring options for oil refining, if this is to be done, a plant will have to be established in Guyana.

He was at the time responding to questions from members of the media during his press conference held on Thursday last.

During the conference, he noted that the government is still exploring the establishment of one oil refinery here, and several persons have already expressed an interest.

“We went out for requests for proposal. We have several of those. There was a first-round evaluation. We are waiting for more information, but even as we do that, a number of other countries are sending in proposals,” he added.

If it is to go forward, he said that it has to be on conditions that are good for Guyana and all the financial and technical requirements would have to be met

He explained that Guyana does not have the capacity for two refineries and can only proceed with the establishment of one.

Dr Jagdeo added that one of the reasons a refinery is being sought is to assure national energy security.

“If you’re doing the refinery, it has to be here because what if there is a disruption in global supplies or regional supplies for an extended period and [at] the refineries in Trinidad, that doesn’t help us. So those are the considerations,” he said.
Against this backdrop, he emphasised that if we are to establish a refinery, it will be in Guyana as any other option defeats the purpose of achieving national energy security.