PRESIDENT Dr. Mohamed Irfaan Ali has disclosed the government’s plan to complete the 30,000 barrel-per-day oil refinery in Region Six (East Berbice-Corentyne) by year-end.
Multiple bids have been submitted for the design, financing, and construction of an oil refinery at the mouth of the Berbice River.
The president shared this revelation during the commissioning ceremony of the $125 million Corriverton Entertainment Park, which took place last Saturday.
“As we come closer to realising the opportunity with the energy project here in Region Six, we are working on the 30,000-bpd refinery- the proposals that came in – because we are hoping that before the end of this year, we must finalise the refinery,” he said.

President Ali emphasised that the proposed refinery will fundamentally alter the economic landscape of the region, creating plentiful opportunities for its inhabitants.
“For those who cannot be excited with the development that is taking place across our country and here in Region six, something is wrong with them,” the president stated.
An oil refinery is a manufacturing facility that transforms crude oil into various valuable products such as diesel, gasoline, lubricants, and heating oil, among an array of others.
Once extracted from the ground, petroleum must undergo processing at oil refineries, marking the second stage in the production of diverse petroleum products.
Once the refinery in Berbice initiates operation, Guyana can distribute distinct components of crude oil to diverse industries. The oil will be employed by these industries for transportation, road construction, electricity generation, and chemical material production.

This will entice international investments due to the surge in global fuel prices. Additionally, with the passage of time, heating expenses are on the rise, hence, the necessity for additional refineries to convert crude oil into gasoline and diesel.