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Guyana, Dominican Republic advance on oil drilling and refining, says president
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Guyana, Dominican Republic advance on oil drilling and refining, says president
Feb 18, 2025 8:13 AM

GEORGETOWN, Feb 18 (Reuters) - Guyana and the Dominican

Republic are making progress on accords for offshore oil and gas

exploration and to build a petrochemical plant and possible

refinery in the South American country, Dominican President Luis

Abinader said on Tuesday.

The countries signed a memorandum of understanding in 2023

to work jointly on the energy projects.

The Dominican government is interested in exploring Guyana's

Berbice offshore block, which was returned to the government by

Toronto-listed CGX Energy ( CGXEF ), as well as developing the

potential new refinery and urea plant.

Guyana is pressing a consortium led by Exxon Mobil ( XOM ),

which controls all oil and gas output in the country, to deliver

natural gas to shore from its floating production facilities to

feed power generation, petrochemical and liquefied natural gas

(LNG) projects that could expand revenue.

Abinader and Guyanese President Irfaan Ali spoke at an

energy conference in Guyana's capital, Georgetown.

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