{"id":15238,"date":"2024-01-06T23:04:45","date_gmt":"2024-01-06T23:04:45","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=15238"},"modified":"2024-01-06T23:04:46","modified_gmt":"2024-01-06T23:04:46","slug":"government-explores-options-for-local-oil-refinery","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/government-explores-options-for-local-oil-refinery\/","title":{"rendered":"Government Explores Options for Local Oil Refinery"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>The Guyanese government is actively considering the construction of an oil refinery, engaging with potential investors to assess the viability of such a project. <\/p>\n\n\n\n<p>Vice President Dr. Bharrat Jagdeo provided insights during a recent press conference, stating that discussions have progressed significantly, narrowing down the list of potential contractors to about five.<\/p>\n\n\n\n<figure class=\"wp-block-audio\"><audio controls src=\"https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2024\/01\/Josiah-Oil-Refinery-1.mp3\"><\/audio><\/figure>\n\n\n\n<p>Among the parties expressing interest is a group associated with a Memorandum of Understanding (MOU) from the Dominican Republic (DR). <\/p>\n\n\n\n<p>Last year, Presidents Ali and Abinader signed an MOU addressing the possibility of the DR establishing a refinery in Guyana.<\/p>\n\n\n\n<p>Dr. Jagdeo emphasized that the ongoing discussions have deviated from the initially established parameters, with the government exploring various options to ensure the investment&#8217;s economic viability, sustainability, and overall benefit to the country. <\/p>\n\n\n\n<figure class=\"wp-block-audio\"><audio controls src=\"https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2024\/01\/Josiah-Oil-Refinery-2.mp3\"><\/audio><\/figure>\n\n\n\n<p>The Vice President highlighted the importance of thorough consideration, given that such investments typically span 30 to 40 years.<\/p>\n\n\n\n<p>While an oil refinery is one option, Dr. Jagdeo mentioned the potential pursuit of strategic reserves as an alternative. <\/p>\n\n\n\n<p>The final decision will depend on careful evaluation, considering long-term implications and economic factors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Guyanese government is actively considering the construction of an oil refinery, engaging with potential investors to assess the viability of such a project. Vice President Dr. Bharrat Jagdeo provided&hellip;<\/p>\n","protected":false},"author":4,"featured_media":15241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[360,366,363,350],"tags":[],"class_list":["post-15238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-local-development","category-national-transformation","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=15238"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15238\/revisions"}],"predecessor-version":[{"id":15242,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15238\/revisions\/15242"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/15241"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=15238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=15238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=15238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}