Guyana’s high-quality crude is helping sustain ongoing talks for a US$300 million refinery project, even as negotiations continue without a final agreement.
Speaking during a March 29 interview on the Sources program, Nicole Theriot, United States Ambassador to Guyana, said the country holds a strong position among emerging oil producers.
“…You have some advantages that other countries just simply don’t have, including emerging oil and gas countries,” Theriot said.
She pointed to crude quality as a key factor. “One is the quality of your oil. It is extremely high. Sweet crude is incredible,” the ambassador said.
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Theriot also highlighted the role of the Stabroek Block partners. “Also, you have an incredibly successful consortium, and that is willing to expand further. It’s kind of like, why change a good thing? Things are working really beautifully. The partners that are here are interested in continuing along that same trajectory,” she said.
The refinery discussions involve U.S.-based Curlew Midstream and the Government of Guyana. The project has been under negotiation for more than a year.
Theriot confirmed that engagement remains active. “Yes, I can tell you just yesterday, I was talking to the government and to Curlew about this. Negotiations are absolutely ongoing,” she said.
She added, “They’re still working to reach an agreement on the contract, so it’s best if I don’t speak to it further because it is still ongoing… But we are very confident that they will reach a resolution.”
The proposed facility is expected to support Guyana’s fuel supply. Previous disclosures indicated it could store about 750,000 barrels of gasoline, diesel, jet fuel, and heavy fuel oil, targeting full domestic supply while enabling exports to Caribbean markets.
