Latest update April 19th, 2024 12:59 AM
Jan 18, 2020 News
(Reuters) – The first-ever cargo of Guyana’s crude for export is scheduled to begin loading this weekend so the oil can be processed at Exxon Mobil’s refining system, the company told Reuters yesterday.
Exxon has so far made 15 discoveries of oil reserves in Guyana, turning a risky exploration venture into one of the world’s most promising oil mega-projects. The company is entitled to the first two crude cargoes to be exported from the Liza field, which it shares with U.S.-based Hess Corp and China’s CNOOC.
The Exxon-led consortium has discovered more than 6 billion barrels of recoverable oil and gas resources off Guyana’s coast, which could eventually produce 750,000 barrels per day.
Those finds are turning Guyana, an impoverished nation with no history of crude output that borders longtime producers Venezuela and Brazil, into a hot property for oil investment.
The tanker Yannis P, flagged by the Marshall Islands, arrived yesterday in Guyanese waters. It plans to transport up to 1 million barrels of Guyana’s Liza crude, which would arrive into the United Kingdom in late January, according to Refinitiv Eikon’s vessel tracking data.
The shipments following the two Exxon cargoes are to be taken in February by Hess and Guyana’s government. The government already awarded its first three cargoes of Liza crude to Royal Dutch Shell through an open-market tender.
Guyana’s first crude production started in December, ahead of schedule.
Where is the BETTER MANAGEMENT/RENEGOTIATION OF THE OIL CONTRACTS you promised Jagdeo?
Apr 19, 2024
SportsMax – West Indies Women’s captain Hayley Matthews delivered a stellar all-round performance to lead her team to a commanding 113-run victory over Pakistan Women in the first One Day...Kaieteur News – For years, the disciples of Bharrat Jagdeo have woven a narrative of economic success during his tenure... more
By Sir Ronald Sanders Waterfalls Magazine – On April 10, the Permanent Council of the Organization of American States... more
Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.
Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]