Guyana seeks energy independence through national refinery plans

Guyana is exploring the establishment of a national oil company to enhance domestic fuel security and reduce reliance on international markets. President Irfaan Ali revealed that the proposed entity would focus on the fuel supply chain, including refining and storage, rather than investing directly in offshore crude production.

Despite its growing role as a major crude oil producer, Guyana remains largely dependent on imports for gasoline and diesel. The government aims to build a refinery and expand storage capacity to provide between 30 and 120 days of fuel reserves to protect the economy from global price volatility and supply disruptions.