Guyana and the Dominican Republic on Tuesday signed a memorandum of understanding to cooperate on recruiting companies to build a 50,000-barrel-per-day refinery in Guyana that would tap the country’s oil wealth.
Any project would be at least 51% owned by the Dominican Republic government, according to the terms of the preliminary agreement, which was seen by Reuters.
The pact was signed by Guyana President Irfaan Ali and Dominican Republic President Luis Abinader during Ali’s trip to Santo Domingo.
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