34 companies submit expressions of interest to market Guyana’s crude oil

Last Updated on Tuesday, 21 April 2020, 22:34 by Writer

The fuel hose leading from the FPSO, Liza Destiny, to the Cap Philippe for the transfer of Guyana’s first million barrels of crude.

Thirty-four companies on Tuesday submitted expressions of interest (EOIs) to sell Guyana’s oil exports over a period of 12 months.

The EOIs were opened by the National Procurement and Tender Administration Board.

Already, the Ministry of the Presidency’s Department of Energy has said the company that wins the bid to market Guyana’s crude will not enjoy an automatic right of extension. The energy department has said this will be performance-based.

Among the EOIs are ExxonMobil, the operator in the giant Stabroek Block, and Shell Western Supplies and Trading. Shell Western Supplies and Trading had been already hand-picked by the Department of Energy to market Guyana’s first one million barrels of crude. That company, as part of the process, had also removed impurities and other contaminants as part of efforts to develop a Liza Standard.

Also submitting an EOI was Hartree Partners LLP , a United States company that had done a desktop study that had discouraged Guyana from building a refinery on the grounds that it would be too expensive and uncompetitive because there is a lot of spare refinery capacity around the world.

The companies, during this EOI phase, were required to submit stacks of documents including information that will facilitate due diligence on their background, capacity and experience in crude oil trading, and financial records for at least the past five years.

After these are analysed, a shortlist will be created and they will be invited to submit full-fledged bids containing technical capacity and the proposed cost for crude marketing services.

The 34 EOIs are:

1. ExxonMobil (Texas, United States)
2. Shell Western Supplies Trading (Bahamas)
3. Hartree Partners, LLP (United States)
4. Guyana-registered Century Tamara Energy Services Inc.
5. Heritage Petroleum Co. Ltd (Trinidad)
6. Gunvor SA (Switzerland)
7. Bonroy Tetchem Co.Ltd of Wales, United Kingdom & Guyana Crude Oil LLC
8. China Offshore Oil Singapore Int’l PTE Limited (Singapore)
9. Enteq Resources (United States)
10. MAB Oil Limited of London (United Kingdom)
11. Mercuria Energy Trading SA (Switzerland)
12. Sacoil Energy Equity Resources Limited (Seychelles, East Africa)
13. Mercantile and Maritime
14. Unipec America Inc (United States)
15. BP Products North America Inc. (United States)
16. PPT Energy Trading Co. Ltd (Japan)
17. BB Energy (United Kingdom)
18. Freepoint Commodities (Singapore)
19. Sinochem (United Kingdom)
20. Cathay Petroleum Int’l Ltd. (Hong Kong)
21. Concord Energy (Singapore)
22. PetroCo Oil Co. Ltd (Guernsey, a United Kingdom-dependency)
23. Tosta Total Oil Trading Sa (Switzerland)
24. Lukoil Oil Trading and Litasco (Switzerland)
25. Core Petroleum LLC (United States)
26. AlSAA Petroleum Shipping (United Arab Emirates)
27. Petro China International Brazil Trading Ltd. (Brazil)
28. Gladius Commodities Ltd (Nigeria)
29. Equinor (Norway)
30. Vitol S.A. (Switzerland)
31. Glencore Ltd. (United States)
32. Petrobras Global Trading BV (The Netherlands)
33. Interchem PTE Ltd. (Singapore)
34. Aramco Trading (United Kingdom)