Guyana Short-lists 19 Companies to Market Its Oil

June 29, 2020

World Energy Reports LLC.
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A group of 19 companies including oil majors, trading houses and state-run firms were approved by Guyana's government for the next phase of a competitive process aimed at selecting an agent for marketing its share of crude produced in the country.

PetroChina Co, Sinochem International, China Offshore Oil, ExxonMobil Corp, BP Plc, Total SA, Royal Dutch Shell, Lukoil, Equinor, Petrobras and trading firms Mercuria Energy, Vitol, Glencore and Freepoint Commodities are among the firms included in the government's short list, Guyana's ministry of the Presidency said on Friday.

A consortium by Exxon, China's CNOOC, and Hess Corp began producing crude offshore Guyana last year after discovering more than 8 billion barrels of recoverable resources, inaugurating the South American nation's output.

Each party is entitled to a portion of production for exports, including the government, which is seeking a third party to help it sell the crude through a 12-month contract as the country has no refineries or national oil company.

The 19-company list also included Hartree Partners, Mercantile and Maritime, Cathay Petroleum, and Petraco Oil.

More than 30 oil firms in April submitted expressions of interest for the contract to market the government's share of crude. 

(Reporting by Luc Cohen in New York City, Writing by Marianna Parraga in Mexico City Editing by Matthew Lewis)

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