Guyana is considering plans to export crude oil to the United States to improve and restore fuel for domestic supply and may be sold to the nearest countries, President Guyana Irfaan Ali told a conference in Houston on Tuesday.
Guyana has one of the fastest growth economies in the world thanks to the rapidly increasing oil output in productive offshore oil fields in the country, which is operated by a consortium led by the main oil US Exxon Mobil XOM.
The government is entitled to part of the output as an earnings oil, which is exported through a trading company that allocates cargo in different markets, especially Europe.
Guyana does not have a refinery, but is discussing projects with companies and the Dominican Republic to build small refineries.
Guyana will do anything to maintain regional peace, Ali also told the Ceweek Conference in Houston, when asked about tension with Venezuela.
South American neighbors are involved in a long -standing dispute about which country has an esequibo area of 160,000 square km (62,000 square miles), which is the subject of the ongoing case in the International Judicial Court
“We only ask Venezuela to respect ICJ and the rule of law,” he said.
Source: Reuters
