Govt. partners with U.S. company to refine Guyana’s oil

Feb 19, 2025 News

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Kaieteur News –The Government of Guyana (GoG) will soon partner with United Stated-based Curlew Midstream to refine and store locally produced oil. This was announced by President Irfaan Ali at the opening ceremony of the 2025 Guyana Energy Conference and Supply Chain Expo on Tuesday.

Curlew Midstream, headquartered in Bentonville, Arkansas, specialises in energy infrastructure and operates terminal facilities in South Louisiana.

Speaking at the event held at the Marriott Hotel in Georgetown, President Ali made the disclosure but stated that the details of the agreement are still to be ironed out.

Notwithstanding the finalization of the deal, President Ali highlighted the scale and importance of the investment, noting that it would enhance regional energy security and economic growth.

“Only this week, I was pleased that we are now moving forward with the US government, and also because this investment will support both the United States and it will support Guyana, it will add to regional security. It will also add to the energy sustainability of Guyana,” the head-of-state said.

President Ali explained that Curlew Midstream is expected to process 30,000 barrels of oil per day from Guyana by the end of 2025. This will see an initial investment of at least US$300 million in the first two years.

He noted that the project will result in refined petroleum products being available at lower prices in Guyana while also establishing the country as a hub for fuel distribution across northern Brazil and the wider Caribbean region.   He said, “These are the type of investment that we are pursuing, transformative investment, investment that goes beyond economics and financial returns, investment that strengthens security, integrate security, expand partnership.”

The President outlined the broader economic potential of the initiative and underscored the role it would play in developing Guyana’s marine economy, transportation, and logistics sectors. The project is expected to create thousands of jobs and support the movement of tankers between Guyana and international markets.

“When you look at the numbers in a seven-year period, you’re talking about close to seven billion US of refined fuels imported here in Guyana alone, seven billion US dollars when you look at the numbers in the next seven years, and then when you look at the numbers in CARICOM, what CARICOM’s internal consumption is, that’s about US$10 billion annually. I’m not even talking about northern Brazil as yet,” Ali noted.

Moreover, in a press statement, Curlew detailed that the partnership with the Guyanese government will ensure Guyana’s continued move toward energy independence.

Curlew Midstream said that the partnership will allow Guyana to store 750,000 barrels of gasoline, diesel, jet fuel, and heavy fuel oil in a modern fuel storage facility.

“The agreement between the Government of Guyana and Curlew Midstream would enable Guyana to execute trading agreements for United States-refined fuels to be stored in a state-of-the-art, local fuel storage facility that will initially house 750,000 barrels of gasoline, diesel, jet fuel and heavy fuel oil,” it was stated.

It was stated that this will enable Guyana to meet 100% of its domestic fuel needs while also supplying high-quality, non-sanctioned fuels to CARICOM nations.

The release further stated that the increased fuel trade between the U.S. and Guyana through the Curlew terminal would lead to “an immediate, dramatic reduction in the wholesale and retail price of fuels that power the nation.”

Curlew further stated, “These cost reductions will have the further impact of reducing the costs of all goods transported by air, road and river. Additionally, the impacts of the reductions of fuel costs will be felt by businesses and households across Guyana in lower production costs of electricity generated by the burning of heavy fuel oil, prior to the completion of the massive gas-to-energy complex.”

Notably, President Ali reiterated that in order for Guyana to move into its rightful and proud place in the growing regional economies, infrastructure must be viewed as one of the most vital puzzle pieces alongside education, healthcare, tourism and oil and gas. He highlighted the partnership with Curlew as a giant leap in that direction.

An oil refinery has been on the government’s agenda for some time now. The government had gone out to tender and had even signed a Memorandum of Understanding (MOU) with the Dominican Republic (DR).

(Govt. partners with U.S. company to refine Guyana’s oil)

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• Curlew Midstream, Guyana, Irfaan Ali, oil, refinery

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