Introduction
Today’s column continues the discussion of establishing a domestic oil refinery (or refineries), whether private or state-owned, to process Guyana’s crude slate. My recommendation remains: “a state-owned oil refinery makes no economic sense at this stage of Guyana’s emerging petroleum sector or its overall economic development”. The rules proffered in this column seek to provide guidance for State action in this area.
Private Refinery Proposals
I start with the observation that back in 2017, when I had first addressed this topic, there were several private proposals to build refineries in wide circulation. Now, over two years later, there is virtually no public comment on private refinery investments, despite the fact that First Oil is as imminent as next month.