SEATTLE (Oil Monster): The government of Guyana has invited Expressions of Interest (EOI) towards establishment of a new oil refinery at Crab Island, Berbice River in Region Six, Guyana. The refinery will have a processing capacity of approximately 30,000 barrel per day. The interested parties are required to submit their EOIs to the National Procurement and Tender Administration Board (NPTAB) by 13th December, 2022.
ALSO READ:
Oil Edges Up on Weaker Dollar, Lower U.S. Diesel Stocks
Oil Bounces Higher as U.S. Dollar's Strength Eases
The government plans to extend support to the refinery by providing land to set up the refinery. Also, the refinery would be supplied crude oil at market prices. It will also be offered tax waiver for a period of ten years. Additionally, the government will offer help in ensuring access to local markets for refined products from the facility.
Addressing the opening ceremony of the 16th Berbice Exposition and Trade Fair at the Albion Sports Complex, Corentyne Berbice, President Irfan Ali noted that the oil refinery project is expected to create significant benefits to the local community by opening up new opportunities in various industries such as transport and logistics, services and the construction and rental.
The decision to call for EOIs follows submission of multiple applications for investing in the construction of the refinery.
