Tag Archives: crude oil

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 ...

Guyana’s low carbon dioxide emission crude oil and break-even price of an average of U$28 per barrel have positioned the country’s reserves for a good market, even with a projected global demand of up to 50 million barrels per day by 2050 due to the shift to cleaner energy such as renewables, according to the Norway-headquartered Rystad Energy. Rystad Energy’s ...

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 ...

The Ministry of the Presidency’s Department of Energy on Monday denied breaching the procurement process for sale of Guyana’s first three million barrels of oil aimed at what officials say is the removal of impurities and setting of standard for Guyana to get the best price for its oil. “This is sale; this is not the procurement of a good ...