Guyana’s plans to establish a domestic oil refinery are closely linked to how the country finances and develops the proposed Berbice deep-water port, President Dr Mohamed Irfaan Ali said.
Speaking at a recent press conference, President Ali said that discussions during Guyana’s engagement in Qatar centred on securing a viable financing arrangement for the deep-water port rather than directly negotiating a refinery project. He noted that the port is an important component of the wider investment framework needed to support future energy development.
The President also confirmed that interest in building a refinery in Guyana continues to grow. Since the Qatar visit, the Government has received two further proposals, in addition to an earlier submission from a delegation representing UAE government and investment interests.
Ali indicated that the pace of refinery development will depend significantly on the financing model adopted for the Berbice port. Given the port’s scale and cost, the Government is examining how to structure the project to support the various industries and developments expected to rely on the facility.
Engineering company Bechtel is currently conducting studies on the proposed deep-water port. The Government is assessing both the technical requirements and potential financial arrangements before making a final decision on how the project should proceed. Discussions between Guyana and Bechtel on major infrastructure projects date back to 2020.
Natural Resources Minister Vickram Bharrat recently said the port study is expected to be completed in about two months. Once the assessment is complete, the Government will determine the project’s next steps.
The Berbice port is expected to play a significant role in Guyana’s broader energy and infrastructure expansion, including plans for a second gas development following the Gas-to-Energy project at Wales. The facility is also part of wider development plans for Region Six.
Guyana’s growing oil production has heightened the need to develop supporting energy infrastructure. Although the country produces substantial quantities of crude oil offshore, it still relies on imported refined petroleum products. Offshore production reached approximately 900,000 barrels per day in November 2025.
The Government has previously identified a refinery and increased fuel storage capacity as key elements of a strategy to strengthen national energy security. A domestic refining facility could reduce Guyana’s dependence on imported refined products and provide greater protection against international supply and price disruptions.
President Ali has also indicated that Guyana could eventually explore opportunities to supply refined petroleum products to other Caribbean Community (CARICOM) markets, provided domestic refining capacity is established.
With several investors expressing interest in a refinery, the Government’s immediate focus remains on resolving the infrastructure and financing arrangements for the Berbice port. The outcome of those discussions is expected to help shape the pace and structure of future refinery investment in Guyana.