Discussions on oil refinery narrowed to five interest groups but strategic reserves still being explored

nine proposals were submitted to the government for the design, financing and construction of the refinery.

During a State visit to the Dominican Republic in August, President Ali and his counterpart, President Luis Abinader, signed a Memorandum of Understanding (MoU) for the establishment of an oil refinery in Guyana that could possibly refine at least 50,000 barrels of oil daily.

With this new venture, it was noted that the Dominican Republic will be the majority shareholder, with a 51 per cent stake.

But the government has not yet finalised who will build this refinery though President Ali, in an invited comment in August, said the DR’s role in the project increases its viability.