Latest update March 26th, 2026 12:30 AM
No proposal made to govt. for sale of Guyana’s crude to CARICOM – Jagdeo
…says open to looking at proposal if/ when made
Kaieteur News- The government of Guyana has not received proposals from any Caribbean Community (CARICOM) country for the sale of Guyana’s crude.
This is according to Vice President Bharrat Jagdeo who at his Thursday press conference was informed of recent comments by President of the African Export-Import Bank (Afreximbank) Prof. Benedict Okey Oramah suggesting that given Guyana’s status as a major oil producer, the country could be the solution to the region’s energy needs.
Vice President Bharrat Jagdeo
The Bank’s president asked whether CARICOM had considered aggregating its demand for petroleum by talking to Guyana to refine and supply it collectively. He noted that this move would allow the region to reduce its petroleum expenditure dramatically.
“So, we have never explored this with anyone in the region, I don’t think there has even been such a demand…” Jagdeo told reporters.
The vice president stated that, to date, the government has not received any joint proposal from CARICOM about the sale of Guyana’s crude for refining to supply refined products.
“There’s no such thing. So, I think maybe the president of the African bank…he is saying that given we’re a major producer that may be an option but there’s no formal proposal before us and if and when it’s made, we will then examine it on its merit. But right now, there is no proposal,” Jagdeo said.
Further, when asked if Guyana would be open to a deal with CARICOM countries at a discounted price for the sale of crude, given that the government’s preference is to sell its crude openly on the international market in order to get the best prices, Jagdeo said, “That is something we have to examine only when we have a specific proposal. I don’t want to deal with hypotheticals here.”
The vice president reminded that the government is already exploring the refining and storing of a quantity of its crude with United States firm Curlew Midstream.
Curlew Midstream would in turn, resell Guyana the refined product at a lower cost than the country is now procuring globally thereby significantly lowering costs to Guyanese consumers.
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