Decision rules for guiding the establishment of a local oil refinery

Introduction              

For the purposes of today’s column, I shall be revisiting my much earlier evaluation of development analysis and policy, along with my assessment of concrete proposals and studies by the Authorities aimed at evaluating the need for constructing a state-run or joint venture, JV, oil refinery that is designed to contribute value added to Guyana’s crude oil exportation. As will be indicated these efforts were rather extensive, lasting in essence over a score of consecutive columns; from May 28 2017 to October 22 2017.

Back then on September 17 2017 I had walked readers through the then advertised 100,000 barrels per day, Guyana Oil Refinery Study, prepared by Pedro Haas of Hartree Partners, Consultant to the Ministry of Natural Resources, MoNR and concluded as follows: