Exxon, Shell, Total among 19 companies shortlisted to market Guyana’s oil

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ExxonMobil, Shell and Total are among major oil companies which have been shortlisted for a one-year contract to market Guyana’s share of oil.

The names of the companies were announced by the Department of Energy Friday afternoon.

The first three million barrels were sold to Shell, of which two million barrels have already been lifted.

The government intends to hire an oil marketing and trading company this year to handle the marketing services of Guyana’s entitlement from the Liza Destiny FPSO Vessel, the first oil production ship offshore Guyana.

The Department of Energy said a five member Evaluation Committee was tasked with producing a Shortlist of Companies from the 35 that initially expressed interest.

The Department said it is looking forward to successfully appointing a marketing partner.

Recently, it was reported that Guyana received over US$35M (G$7.3B) for its second million barrels of oil sold to Shell Western Supply and Trading Limited. The company selected to purchase Guyana’s first three oil lifts collected its second shipment on May 21.

Guyana received US$54,927,994.80 for its first lift in February.

The total holdings of the Natural Resources Fund (NRF) as at June 11, 2020, is US$94, 921,803.00 inclusive of US$4,919,505.30 for royalty payments for oil produced and sold from the Stabroek Block in the first quarter of 2020.

The Natural Resources Fund is being kept at the New York Federal Reserve Bank.

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