27 companies bid to market Guyana’s crude entitlement

Last Updated on Tuesday, 1 October 2024, 14:09 by Denis Chabrol

Bids inside one of the cabinets that was opened at 9 AM on 1st October, 2024

A Guyanese-owned oil exploration company is among 27 companies that submitted bids to market Guyana’s crude entitlement from the three Floating Production, Storage and Offloading (FPSO) vessels in the Stabroek Block.

The National Procurement and Tender Administration Board (NPTAB) officials did not announce the prices that were proposed and, instead, referred queries to the Permanent Secretary of the Ministry of Natural Resources.

Bids were closed at 9 AM Tuesday, 1st October, 2024, the same date and time that the steel cabinets were unlocked and opened in the presence of a number of the companies’ representatives.

The selected company would be responsible for marketing Guyana’s crude entitlement for one year.

Guyana’s 2024 National Budget states that crude oil prices are expected to average US$83.3 per barrel.

With three production platforms operationalised, government projected that there would be 202 lifts of crude oil from the Stabroek Block, 25 of which are estimated for Guyana in 2024.

1. Equinor- Norway
2. Trafigura Pte LTD – Singapore
3. Oando Plc- Nigeria
4. Mercuria Energy Trading S.A. Switzerland
5. BP Oil International Limited- United Kingdom
6. BK Holdings Limited- UK
7. ExxonMobil Sales and Supplies LLC – United States
8. Petraco Oil Company LimitedGuernsey
9. Shell Western Supply and Trading Limited-Bahamas
10. Adnoc Trading Limited- United Arab Emirates
11. POTSA Total Energies Trading SA- Switzerland
12. Chevron Products Company-USA
13. VB Energy Trading Limited-London
14. Cathay Petroleum Limited- Hong Kong
15. Gunvor SA- Switzerland
16. Glencore Energy UK Limited
17. APIOil Oil UK Limited
18. Vitol SA Switzerland (1 hour 7)
19. Socar Trading S.A. Switzerland ( 1 hour 10 ) bid 19
20. Springfield Energy Limited – Switzerland
21. Bono Energy Limited-Nigeria
22.  CNOOC (Trading) Singapore
23. ENI Trading and Shipping Inc- United States
24. Petrochina International (America) Inc- United States
25. JE Energy Limited -London
26. Unitec America Inc- United States
27. SISPRO Inc (Guyana)