Spanish
San Juan.- The president of Guyana, Irfaan Ali, said this Thursday that his administration will promote the idea of selling its own crude oil, whose daily production reaches 650,000 barrels per day and expects to almost double to 1.2 million in the year 2030.
"I will work with international allies, the private and local sectors to ensure that we are able to develop in the sale of crude oil," Ali said this morning at a forum organized by the Guyana Chamber of Commerce and Industry, in Georgetown, the country's capital.
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He also said that the country has to be "fit and prepared" to, in the same way, "enter the exchange of Guyana's crude oil and thus, help us with infrastructure, human capital, and market tools." According to him, said crude oil exchange will create "great opportunities" for Guyana. And to do it as quickly as possible, he will hire an expert in the exchange of crude oil. "We have to move forward and look for those experts who have done that work in other countries and thus pass on their knowledge and so then we know how to do it later," he explained. Almost two weeks ago, India's Foreign Minister, Subrahmanyam Jaishankar, visited Guyana for several negotiations, including securing a long-term contract to purchase crude oil from the South American country. In turn, India's High Commissioner to Guyana, SK Srinivasa, explained that the Asian country is not seeking a discount on oil costs, as it would buy it at the Brent price. "We are a nation with an energy hunger, so we need to work with Guyana, because it is a matter that benefits us both," Srinivasa assured. He affirmed that Guyana will have "a direct buyer for a long period without the need for an intermediary." With a population of 1.4 billion people and the need to buy more oil to increase its national production, Srinivasa said that India is interested in acquiring sweet crude from the Liza area in Stabroek Block, approximately 190 kilometers off the coast of Guyana, "because it is good for its refineries".
