ExxonMobil to buy Guyana’s first crude entitlement from Liza Unity

Last Updated on Saturday, 23 April 2022, 18:52 by Denis Chabrol

ExxonMobil Sales and Supplies would be buying Guyana’s first entitlement of 1 million barrels of oil from the new Floating Production, Storage and Offloading (FPSO) vessel but that company would not be charging a marketing fee, the Ministry of Natural Resources said Saturday.

“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,” government here said.

The Ministry of Natural Resources said in this “one-off arrangement” for ExxonMobil Sales and Supplies, Guyana would be selling the oil at forecast price of US$106 per barrel.

Described as “unit gold crude”, the consignment would be loaded from the FPSO Liza Unity during April 23- 24 to the vessel MV DIMITRIOS by the terminal operator.

“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,” the Natural Resources Ministry said.

The Liza Unity is designed to produce 220,000 barrels per day.