Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » BP wins contract to market Guyana’s share of oil production

    BP wins contract to market Guyana’s share of oil production

    November 26, 2022
    Share
    Facebook Twitter LinkedIn WhatsApp
    *BP.

    News wire — BP Plc will market Guyana’s share of crude oil produced over the next year from two offshore production platforms, the South American country’s Ministry of Natural Resources said.

    Guyana is home to one of the largest oil discoveries in the last decade, with about 11 billion barrels found to date. A consortium that controls the country’s crude output expects to pump 1.2 million barrels per day (bpd) by 2027, up from an expected 380,000 bpd at year-end.

    The London-based oil company agreed to market the state’s share produced from the Liza Destiny and Liza Unity platforms at no charge per barrel, according to a ministry statement on Thursday. It replaces a Saudi Aramco trading unit, which previously held the contract.

    BP did not reply to requests for comment on the contract. Along with Spain’s Repsol and Italy’s Eni, it has received cargoes from the county’s offshore oilfields this year, vessel tracking data showed.

    Its proposal to take over as marketing agent was chosen over 13 others, the ministry said. The statement did not identify the others and the ministry did not reply to a request for details.

    Through mid-year, Guyana’s share of oil production from the consortium composed of Exxon Mobil, CNOOC Ltd and Hess Corp was worth $307 million. The group markets two crudes: a medium to light sweet oil called Liza, and an even lighter grade called Unity Gold.

    The government recently said it would auction 14 offshore blocks to increase output by adding more oil producers. Guyana has not yet disclosed a timetable but indicated it could hold the auction by May.

    BP will market crude to refiners, provide benchmark and performance comparisons, and help the government understand the behavior and yields of the Liza blend, the ministry said.

    Reporting by Gary McWilliams;Editing by Elaine Hardcastle – Reuters

    Follow us on twitter

    Related News

    Geopolitical risk could add $10/b to oil prices – Goldman Sachs

    Nigeria to introduce real-time tracking for oil export shipments

    Green Energy International exports first crude from Nigeria’s Otakikpo terminal

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    Police nab three electricity cable thieves in Niger

    June 19, 2025

    Geopolitical risk could add $10/b to oil prices – Goldman Sachs

    June 19, 2025

    Nigeria to introduce real-time tracking for oil export shipments

    June 19, 2025

    Green Energy International exports first crude from Nigeria’s Otakikpo terminal

    June 19, 2025

    1,500 NPA staff promoted in move to strengthen human capital base

    June 19, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.