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CERAWEEK-Guyana considers plan to refine oil in US, import fuel
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CERAWEEK-Guyana considers plan to refine oil in US, import fuel
Mar 11, 2025 2:03 PM

HOUSTON, March 11 (Reuters) - Guyana is considering a

plan to export crude oil to the United States for refining and

to bring back fuel for domestic supply and possibly for sale to

nearby countries, Guyanese President Irfaan Ali said at a

conference in Houston on Tuesday.

Guyana has one of the world's fastest-growing economies

thanks to rapidly rising oil output at the country's prolific

offshore oilfields, which are operated by a consortium led by

U.S. oil major Exxon Mobil ( XOM ).

The government is entitled to a portion of output as profit

oil, which it exports through trading firms that allocate

cargoes in different markets, particularly Europe.

Guyana does not have refineries, but is discussing projects

with companies and the Dominican Republic to build a small

refinery.

Guyana would do anything to keep regional peace, Ali also

said at the CERAWeek conference in Houston, when asked about

tension with Venezuela.

The South American neighbors are involved in a long-running

dispute about which country owns the 160,000-square-km

(62,000-square-mile) Esequibo area, which is the subject of an

ongoing case at the International Court of Justice

"We just ask that Venezuela respect the ICJ and the rule of

law," he said.

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