Guyana Eyes US Oil Export Deal Amid Regional Peace Talks

Guyana is exploring a plan to export crude oil to the U.S. for refining, aiming to bolster domestic fuel supplies and potentially sell to nearby countries. Despite lacking refineries, talks are underway with companies and the Dominican Republic. Guyana also seeks to maintain regional peace amid territorial disputes with Venezuela.

Guyana is contemplating exporting its crude oil to the United States for refining, targeting improved domestic fuel availability and possible sales to neighboring nations, according to President Irfaan Ali during a Houston conference.

Experiencing one of the fastest-growing economies globally, thanks to surging offshore oil output, Guyana is strategically positioning itself. The oil fields, managed by a consortium led by Exxon Mobil, yield profit oil for the government, which is exported to various markets, chiefly in Europe.

Despite non-existence of local refineries, Guyana is in negotiations with firms and the Dominican Republic to construct a small refinery. Highlighting a commitment to regional peace during the CERAWeek conference, Ali addressed the ongoing territorial dispute with Venezuela, urging respect for the International Court of Justice and the rule of law.

(With inputs from agencies.)