• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 20 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 2 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 1 day "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 1 day GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 3 hours U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 2 days An Indian Opinion on What is Going on in China
  • 8 hours Nord Stream - US/German consultations
  • 3 days Can Technology Keep Coal Plants Alive and Well?
  • 4 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 5 days Perfect Energy Storm in Europe: turning our back on fossil fuels is easier said than done!
  • 29 mins Australia sues Neoen for lack of power from its Tesla battery
  • 3 days Storage of gas cylinders
  • 4 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
A Novel Solution To The Plastic Pollution Problem

A Novel Solution To The Plastic Pollution Problem

Global initiatives and new technologies…

Aramco Wins Guyana Oil Tender

Saudi Aramco has won a tender for the purchase of crude oil from Guyana and will likely enter into a one-year deal for the marketing of the commodity, Reuters reports, citing a Guyanese government official.

Aramco vied for the contract with 15 companies when Guyana launched the tender last month, but it was only awarded one loading for now, the natural resource minister of Guyana, Vikram Bharat, told Reuters. Bharat added the Saudi major will probably get a one-year contract, but the process has not yet been completed.

Aramco was the lowest bidder in the oil tender, offering a commission of $0.025 per barrel, the minister also said.

Guyana is a newcomer on the oil production scene but with great promise, as Exxon and Hess keep making discovery after discovery in the offshore blocks they operate, so far tapping into 9 billion barrels of reserves. For now, they are also the only actual producers of oil in the tiny South American country. The loading awarded to Aramco will be the country's fourth this year.

Guyana and neighbor Suriname, with which the country shares the prolific Guyana-Suriname basin, are eager to exploit their newly discovered oil reserves in a race with the energy transition.

"We have been called to leave our oil in the ground. We believe that's totally unfair," Guyana vice president Bharrat Jagdeo said last month at the Offshore Technology Conference in Texas. "Being a small country, we will not have the capacity and the framework for an optimum operation of the oil industry right now, but we will continue improving."

Upstream Online reported last month that the Guyana-Suriname Basin could see 10 drilling rigs in 2022 as exploration in the area accelerates. Exxon already has six drillships in Guyana waters, and TotalEnergies has deployed two in Suriname waters. The report notes that 15 companies in total hold drilling rights to acreage in the basin.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News