Sunday, March 3, 2024
spot_img
HomeBusinessEco EnergyGuyana to receive first entitlement lift from Liza Unity FPSO

Guyana to receive first entitlement lift from Liza Unity FPSO

GEORGETOWN, Guyana, (DPI) – The government of Guyana will be receiving its first entitlement lift of the Unit Gold crude from the Liza Unity Floating Production Storage and Offloading (FPSO) production platform from April 23 to 24.

“The usual lifting entitlement amount of one million barrels of oil (1MMBBls) will be loaded onto the vessel MV DIMITRIOS by the terminal operator”, DPI reported. “The first cargo of Guyana’s lifting entitlement was sold to ExxonMobil Sales and Supply LLC following a competitive bidding process by the five companies, inclusive of the covertures of the Stabroek Block.”

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. This lift is a one-off arrangement for the company.

“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 forecasted price for this first lift of the Unit Gold crude for Guyana is US$106 per barrel.”

Meanwhile, the International Energy Conference and Expo 2023 was officially launched Friday.

“We look forward for greater success and a larger turnout in 2023. You have a longer time to plan. So, all stakeholders will have a longer time to prepare their exhibits, prepare presentations and therefore, we will have a grand conference in 2023,” said prime minister, Brigadier (Ret’d), Mark Phillips.

“It is very important that I mention all the people of Guyana. For far too long as a country, we have struggled with developing our country and improving the lives of the people of Guyana. [Today] we have a resource, and we as a government have committed ourselves to utilising that resource, to improve the lives and livelihood of all the people of Guyana,” the prime minister added.

Read more: International Energy Conference and Expo 2023 will be a mega event

spot_img
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img
spot_img

Caribbean News

ECCB to establish regional standards-setting body for non-bank financial sector

BASSTERRE, St Kitts - The Eastern Caribbean Central Bank (ECCB) is taking steps to introduce a Regional Standards Setting Body to regulate non-bank financial...

Global News

Canada-Italy roadmap for enhanced cooperation

TORONTO, Canada - The following is a joint statement from Prime Minister Justin Trudeau and Italy Prime Minister Giorgia Meloni. We, Prime Minister of Canada...