Guyana to receive more than US$100 million from sale of oil

The Guyana government says it has received its first entitlement lift of the Unit Gold crude from the Liza Unity Floating Production Storage and Offloading (FPSO) production platform.

It said the forecasted price for this first lift of the Unit Gold crude for Guyana is US$106 per barrel.

A government statement confirmed that the usual lifting entitlement amount of one million barrels of oil had been loaded over the weekend onto the vessel MV Dimitrios.

The first cargo of Guyana’s lifting entitlement was sold to ExxonMobil Sales and Supply LLC following a competitive bidding process by the 5 companies, inclusive of the covertures of the Stabroek Block.

“The ExxonMobil affiliate bid was the best on the pricing differential for the crude and this lift will incur no marketing fee by the lifter. This lift is a one-off arrangement for the company. The government of Guyana will be working to ensure that Guyana receives the best price for each cargo from both the Liza and Unity Gold crudes,” according to the government statement. -(CMC)